Say goodbye to Tocagen, struggling brain cancer biotech to reverse merge with Forte Biosciences
Five months after a huge Phase III failure triggered mass layoffs at the company, Tocagen will sign itself out of existence.
The biotech, once focused on brain cancer, announced it has signed a reverse merger agreement with Forte Biosciences, a biotech tackling atopic dermatitis and other inflammatory skin diseases. Tocagen’s stock shot up 85% on the news, although that only translated to a 41-cent bump for a company that saw the last of its value go poof in September. The new company will trade under the ticker $FBRX.