Fate Therapeutic Stock Price, News & Analysis

Fate Therapeutics reported encouraging early clinical data for its FT596 product in a patient with refractory diffuse large B-cell lymphoma, showing a partial response with significant tumor size reduction and no serious side effects. The company has cleared multiple IND applications for its innovative iPSC-derived therapies, including FT538 for AML and FT819 for B-cell leukemias, and continues to advance its collaboration with Janssen to develop CAR NK and CAR T-cell therapies. As of June 30, 2020, Fate Therapeutics had $533 million in cash and investment resources.

Fate Therapeutics (NASDAQ: FATE) announced that its Chief Scientific Officer, Dan Shoemaker, Ph.D., will present at the Wedbush PacGrow Healthcare Virtual Conference on August 12, 2020, at 11:30 a.m. EST. A live webcast will be available on the company's investor relations website, with an archived replay to follow.

The company focuses on developing programmed cellular immunotherapies for cancer and immune disorders, utilizing its proprietary induced pluripotent stem cell (iPSC) platform.

Fate Therapeutics has entered an exclusive license agreement with Baylor College of Medicine for alloimmune defense receptors, a revolutionary technology aimed at preventing immune rejection of allogeneic cell therapies. Recent preclinical data published in Nature Biotechnology demonstrates that engineered allogeneic CAR T cells equipped with these receptors successfully evade immune rejection and achieve long-lasting tumor eradication. This innovation could potentially address significant challenges in allogeneic therapies, enhancing their effectiveness while preserving the patient’s immune system.

Fate Therapeutics announced the closing of a public offering of 7,108,796 shares at $28.31 each, raising approximately $201.3 million. The offering included 927,324 shares from underwriters' options. Funds will support clinical trials, production of clinical candidates, and expansion of manufacturing operations. Additionally, the company plans to sell 1,766,160 shares to Johnson & Johnson Innovation for about $50 million. This move aligns with Fate's focus on developing advanced cellular immunotherapies.

Fate Therapeutics (NASDAQ: FATE) announced the pricing of a public offering of 6,181,562 shares at $28.31 each, aiming to raise approximately $175 million, with expected net proceeds of $164.2 million after fees. The funds will support clinical trials, product manufacturing, and facility expansion. Additionally, the company plans to sell 1,766,160 shares to Johnson & Johnson Innovation for about $50 million. The offering is set to close around June 11, 2020, subject to customary conditions.

Fate Therapeutics, a clinical-stage biopharmaceutical company, has announced an underwritten public offering of its common stock. The funds raised from this offering will support clinical trials, manufacturing operations, and general corporate purposes. The company also anticipates a private placement with Johnson & Johnson Innovation, potentially raising up to $50 million. The offering is subject to market conditions, and underwriters may purchase up to an additional 15% of the shares offered. Fate's innovative therapies target cancer and immune disorders using its advanced stem cell technology.

Fate Therapeutics has received FDA clearance for its Investigational New Drug application for FT538, a novel CRISPR-edited iPSC-derived NK cell therapy. FT538 targets acute myeloid leukemia and multiple myeloma, designed to enhance innate immunity through engineered functionalities. The Phase 1 trial will assess the maximum tolerated dose across 105 patients. This marks the fourth iPSC-derived NK cell product from Fate's platform, aimed at improving treatment efficacy in relapsed cancer patients. The company has begun clinical manufacturing at its San Diego facility.

Fate Therapeutics (NASDAQ: FATE) announced the retirement of Amir Nashat from its board of directors, marking a significant leadership change. Nashat had been a board member since the company's inception in 2007. Robert Hershberg, with extensive experience in immuno-oncology and business development, has been appointed as a new board member. He previously held executive roles at Celgene and VentiRx Pharmaceuticals. The company is focused on advancing its iPSC-derived cell therapies aimed at treating cancer and immune disorders.

Fate Therapeutics (NASDAQ: FATE) will host a conference call on May 11, 2020, at 5:00 p.m. ET to discuss its first quarter 2020 financial results and provide a corporate update. Participants can join by calling 877-303-6235 (domestic) or 631-291-4837 (international), using conference ID 8623509. The event will also be available via a live audio webcast, which can be accessed on the company’s website under "Events & Presentations." Fate Therapeutics focuses on developing programmed cellular immunotherapies for cancer and immune disorders using its proprietary iPSC product platform.