February 21, 2020 07:09 AM EST

Say goodbye to Tocagen, struggling brain cancer biotech to reverse merge with Forte Biosciences

Jason Mast

Editor

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.

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Say goodbye to Tocagen, struggling brain cancer biotech to reverse merge with Forte Biosciences

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