  It is thought that planetary mass companions may form through gravitational
disk instabilities or core accretion. Identifying such objects in the process
of formation would provide the most direct test for the competing formation
theories. One of the most promising candidates for a planetary mass object
still in formation is the third object in the FW Tau system. We here present
ALMA cycle 1 observations confirming the recently published 1.3 mm detection of
a dust disk around this third object and present for the first time a clear
detection of a single peak $^{12}$CO (2-1) line, providing direct evidence for
the simultaneous existence of a gas disk. We perform radiative transfer
modeling of the third object in FW Tau and find that current observations are
consistent with either a brown dwarf embedded in an edge-on disk or a planet
embedded in a low inclination disk, which is externally irradiated by the
binary companion. Further observations with ALMA, aiming for high SNR
detections of non contaminated gas lines, are required to conclusively unveil
the nature of the third object in FW Tau.
