Estados financieros detallados de Forte Biosciences, Inc. (FBRX): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $76.99, FBRX presenta beneficios negativos (P/E no significativo) y un ROE del -94.82%. La capitalización bursátil es de $1.6B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $49000 | $41000 | $18.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | 0 | 0 | 0 | $11000 | $54000 | $36000 | 0 | $9000 | $39000 | $64000 |
| Beneficio Bruto | $49000 | $41000 | $18.0M | -$11000 | -$54000 | -$36000 | 0 | -$9000 | -$39000 | -$64000 |
| I+D | $27.2M | $29.1M | $50.5M | $2.7M | $9.9M | $13.9M | $5.6M | $21.9M | $21.2M | $58.2M |
| Generales y Administrativos | $4.3M | $8.3M | $12.8M | $1.4M | $4.2M | $7.6M | $8.3M | $10.6M | $15.4M | $12.4M |
| Gastos Operativos | $31.5M | $37.4M | $63.3M | $4.1M | $14.2M | $21.5M | $13.9M | $32.5M | $36.6M | $70.7M |
| Beneficio Operativo | -$31.7M | -$37.6M | -$45.9M | -$4.1M | -$14.2M | -$21.5M | -$13.9M | -$32.5M | -$36.6M | -$70.7M |
| EBITDA | -$31.2M | -$36.7M | -$43.7M | -$4.1M | -$46.4M | -$21.7M | -$13.8M | -$31.5M | -$35.4M | -$68.3M |
| Gastos por Intereses | -$1.8M | $1.9M | $173380 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$33.5M | -$38.9M | -$47.3M | -$4.1M | -$46.5M | -$21.7M | -$13.9M | -$31.5M | -$35.5M | -$68.3M |
| Impuestos | 0 | 0 | $1.7M | 0 | 0 | 0 | 0 | 0 | 0 | $1.0M |
| Beneficio Neto | -$33.5M | -$38.9M | -$49.0M | -$4.1M | -$46.5M | -$21.7M | -$13.9M | -$31.5M | -$35.5M | -$69.4M |
| BPA | $-634.80 | $-997.50 | $-915.18 | $-48.25 | $-157.93 | $-38.85 | $-19.96 | $-24.92 | $-12.17 | $-4.71 |
| BPA Diluido | $-634.80 | $-997.50 | $-915.18 | $-48.25 | $-157.93 | $-38.85 | $-19.96 | $-24.92 | $-12.17 | $-4.71 |
| Acciones en Circulación (Diluidas) | $52738 | $38953 | $53492 | $84330 | $294357 | $558712 | $695341 | $1.3M | $2.9M | $14.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$17000 | $45000 | -$19000 | 0 |
| Beneficio Operativo | -$18.4M | -$24.6M | -$22.4M | -$24.6M |
| EBITDA | -$17.7M | -$23.7M | -$21.7M | -$23.1M |
| Beneficio Neto | -$17.7M | -$24.8M | -$22.1M | -$23.3M |
| BPA | $-0.99 | $-1.39 | $-1.24 | $-0.97 |
| BPA Diluido | $-0.99 | $-1.39 | $-1.24 | $-0.97 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5.5M | $35.9M | $40.8M | $6.9M | $58.8M | $42.0M | $41.1M | $12.0M | $22.2M | $77.0M |
| Inversiones a Corto | $25.7M | $52.8M | $55.3M | 0 | 0 | 0 | 0 | $25.2M | $36.1M | 0 |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $817000 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $32.5M | $90.6M | $97.7M | $7.5M | $59.9M | $42.5M | $41.5M | $38.3M | $61.3M | $80.6M |
| Inmovilizado Material | $743000 | $1.2M | $4.0M | $152000 | $97000 | 0 | 0 | $109000 | $77000 | $129000 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $35.4M | $92.1M | $103.1M | $7.7M | $61.2M | $43.3M | $42.0M | $39.0M | $61.6M | $82.8M |
| Cuentas por Pagar | $1.7M | $2.0M | $78379 | $1.6M | $1.2M | $946000 | $1.2M | $1.4M | $4.9M | $10.0M |
| Deuda a Corto | $7.2M | $7.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $14.4M | $17.3M | $16.5M | $1.9M | $2.3M | $1.8M | $3.2M | $3.7M | $9.1M | $20.8M |
| Deuda a Largo | $13.8M | $3.6M | $26.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $28.4M | $21.0M | $44.9M | $1.9M | $2.3M | $1.8M | $3.2M | $3.7M | $9.1M | $21.8M |
| Reservas | -$128.0M | -$166.9M | -$215.9M | -$5.0M | -$51.5M | -$73.2M | -$87.0M | -$118.5M | -$154.0M | -$223.4M |
| Patrimonio Neto | $7.0M | $71.1M | $58.1M | $5.7M | $59.0M | $41.5M | $38.8M | $35.3M | $52.5M | $61.0M |
| Deuda Total | $21.0M | $10.8M | $26.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda Neta | -$10.3M | -$77.9M | -$69.9M | -$6.9M | -$58.8M | -$42.0M | -$41.1M | -$37.1M | -$58.4M | -$77.0M |
| Capital Circulante | $18.1M | $73.3M | $81.2M | $5.6M | $57.6M | $40.8M | $38.3M | $34.7M | $52.3M | $59.8M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $93.4M | $77.0M | $58.2M | $49.6M |
| Activos Totales | $97.1M | $82.8M | $67.2M | $205.7M |
| Pasivos Totales | $13.0M | $21.8M | $25.1M | $21.9M |
| Patrimonio Neto | $84.1M | $61.0M | $42.1M | $183.8M |
| Deuda Total | 0 | 0 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$33.5M | -$38.9M | -$49.0M | -$4.1M | -$46.5M | -$21.7M | -$13.9M | -$31.5M | -$35.5M | -$69.4M |
| Amortizaciones | $255000 | $292000 | $625000 | $11000 | $54000 | $36000 | 0 | $9000 | $39000 | $64000 |
| Compensación en Acciones | 0 | $4.5M | $6.9M | 0 | $956000 | $4.2M | $4.0M | $3.3M | $3.1M | $6.3M |
| Cambio en Capital Circulante | $1.9M | $2.5M | $6.1M | $1.3M | -$3.8M | $720000 | $1.7M | -$392000 | $1.8M | $11.4M |
| Flujo de Caja Operativo | -$29.5M | -$31.1M | -$34.5M | -$2.8M | -$18.4M | -$16.7M | -$8.2M | -$28.7M | -$30.7M | -$50.9M |
| Inversiones (CapEx) | -$525000 | -$655000 | -$2.0M | -$162000 | 0 | 0 | 0 | -$88000 | -$37000 | -$116000 |
| Adquisiciones | 0 | $20000 | $2.2M | 0 | $3582 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | $3.4M | $89000 | 0 | 0 | 0 | 0 | 0 | 0 | -$1000 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$30.1M | -$31.8M | -$36.4M | -$2.9M | -$18.4M | -$16.7M | -$8.2M | -$28.8M | -$30.8M | -$51.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$14.0M | -$16.5M | -$18.8M | -$22.7M |
| Inversiones (CapEx) | -$55000 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$14.1M | -$16.5M | -$18.8M | -$22.7M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.5M | $1.7M | $3.2M | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -16.3% | +43890.2% | -100.0% | | | | | | |
| Crecimiento Beneficio Neto (anual) | | -16.3% | -25.8% | +91.7% | -1042.5% | +53.3% | +36.1% | -127.1% | -12.7% | -95.5% |
| Crecimiento BPA (anual) | | -57.1% | +8.3% | +94.7% | -227.3% | +75.4% | +48.6% | -24.8% | +51.2% | +61.3% |
| Cambio en Acciones (anual) | | -26.1% | +37.3% | +57.6% | +249.1% | +89.8% | +24.5% | +81.6% | +130.9% | +404.7% |
| Crecimiento FCF (anual) | | -5.7% | -14.6% | +92.0% | -528.1% | +9.5% | +50.9% | -251.8% | -6.9% | -65.7% |
| Margen Bruto | 100.0% | 100.0% | 100.0% | | | | | | | |
| Margen Operativo | -64675.5% | -91778.0% | -254.2% | | | | | | | |
| Margen EBITDA | -63614.3% | -89524.4% | -242.3% | | | | | | | |
| Margen Neto | -68322.4% | -94948.8% | -271.4% | | | | | | | |
| Margen FCF | -61355.1% | -77531.7% | -202.0% | | | | | | | |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -3.6% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -1.5% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-570.06 | $-816.06 | $-681.17 | $-34.78 | $-62.59 | $-29.85 | $-11.77 | $-22.80 | $-10.56 | $-3.47 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $52738 | $38953 | $53492 | $84330 | $294357 | $558712 | $695341 | $1.3M | $2.9M | $14.7M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -94.82% |
| Rentabilidad sobre capital invertido | -48.53% |
| Rentabilidad sobre activos | -42.74% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 10.01 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -7.35 | -3.85 | -3.36 | -4.14 | -5.76 | -1.38 | -1.25 | -0.82 | -1.87 | -5.79 |
| P/VC | 35.19 | 2.11 | 2.83 | 2.93 | 4.54 | 0.72 | 0.45 | 0.73 | 1.26 | 6.58 |
| P/V | 5024.91 | 3651.84 | 9.13 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 100.0% | 100.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | -64675.5% | -91778.0% | -254.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | -68322.4% | -94948.8% | -271.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |