Forte Biosciences initiated with a Buy at TD Cowen

TD Cowen analyst Yaron Werber initiated coverage of Forte Biosciences (FBRX) with a Buy rating and no price target The firm says FB102 is a CD122 monoclonal antibody that is designed to reduce pathogenic T and NK cells without impacting tregs. Forte’s healthy volunteer studies have shown clean safety and superior NK cell reduction with FB102 versus IL-15 monoclonal antibodies, the analyst tells investors in a research note. TD cites the “promising” mechanism of action and “pipeline-in-a-product potential” of FB102 across autoimmune diseases for the Buy rating.