** Shares of drug developer Forte Biosciences FBRX.O rise 132.4% to $13.77
** Company says private placement of its shares, worth $53 mln, oversubscribed
** Funds to support development of company's experimental drug, FB102, to treat autoimmune diseases - FBRX
** Received support from new and existing investors, including OrbiMed, Janus Henderson Investors and Tybourne Capital Management - CEO Paul Wagner
** Despite session's gains, stock down 34.2% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.