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FORTE BIOSCIENCES INC

FBRX

Health Care

1

exclusion reason

1 theme

Animal Welfare (1)
FBRX Health Care Current as of March 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Testing & Research
Since Mar 12, 2026

Forte Biosciences is a clinical-stage biotechnology company developing therapeutic candidates for autoimmune and inflammatory diseases. Its primary drug candidate, FB-401, is a topical live biotherapeutic for atopic dermatitis. The development of such biologic pharmaceuticals typically requires extensive animal testing during preclinical stages to establish safety, efficacy, and dosing before human trials can begin. This standard industry practice constitutes commercial exploitation of animals under the firm's ethical screen.

While specific details of Forte's animal testing protocols are not publicly disclosed in its regulatory filings, the company's clinical development pathway inherently relies on animal models. Its 10-K filings reference the establishment of clinical endpoints and bioanalytical methods, processes that are predicated on successful animal studies. The company is flagged by Cruelty Free Investors, an organization that identifies firms engaged in animal testing, placing it among biotechnology companies that exploit animals for product development.

Research Sources 1 organization
Cruelty Free Investors
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.