argenx Completes $2.2B Acquisition of Forte Biosciences; Tender Offer Expires with 87.13% Tendered
ARGX sits 54% above its 52-week low of $661.85.
Summary
argenx completed its $2.2 billion acquisition of Forte Biosciences after 87.13% of shares were tendered at $77.00 per share. The merger closed under Section 251(h), and Forte will be delisted from Nasdaq.
Key Events · M&A and Partnerships · ARGX
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Tender Offer Expires with 87.13% Tendered
19,894,879 Forte shares were validly tendered at $77.00 per share, representing 87.13% of outstanding shares including argenx's existing holdings, satisfying the Minimum Condition.
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Merger Completed Under Section 251(h)
argenx's subsidiary merged with and into Forte without a stockholder vote, converting all remaining shares into the right to receive $77.00 per share in cash.
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Forte to Be Delisted from Nasdaq
Forte's shares are expected to cease trading on the Nasdaq Capital Market prior to market open on August 27, 2026, with deregistration to follow.
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FB102 Added to argenx Pipeline
The acquisition brings FB102, a first-in-class anti-CD122 antibody with clinical proof-of-concept in vitiligo and celiac disease, with Phase 2 celiac and Phase 1b alopecia areata data expected in H2 2026.
Analysis · ARGX · Life Sciences
argenx has closed its $2.2 billion all-cash acquisition of Forte Biosciences, with 19,894,879 shares validly tendered — representing 87.13% of outstanding shares including argenx's existing stake. The merger was completed under Section 251(h) without a stockholder vote, and Forte's shares will be delisted from Nasdaq. This adds FB102, a first-in-class anti-CD122 antibody with clinical proof-of-concept in vitiligo and celiac disease, to argenx's immunology pipeline. The deal expands argenx's portfolio beyond its blockbuster FcRn franchise and positions it to pursue diseases driven by T-cell and NK-cell activity.
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In the 30 days to Sep 14, 2026, 35.8% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, ARGX was trading at $1,018.58 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $65.4B. The 52-week trading range was $661.85 to $1,058.69. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.