Fate Therapeutics Inc
NASDAQ:FATE

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Fate Therapeutics Inc Logo
Fate Therapeutics Inc
NASDAQ:FATE
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Price: 0.9864 USD 0.39% Market Closed
Market Cap: 113.8m USD

Fate Therapeutics Inc
Investor Relations

Fate Therapeutics, Inc. engages in the development of programmed cellular immunotherapies for cancer and immune disorder. The company is headquartered in San Diego, California and currently employs 449 full-time employees. The company went IPO on 2013-10-01. The firm is focused on the development of programmed cellular immunotherapies for patients with cancer. The company uses human induced pluripotent stem cells (iPSCs) generated from its proprietary iPSC product platform to create genetically engineered, clonal master iPSC lines having preferred biological properties. The firm is advancing a pipeline of programmed cellular immunotherapies, including off-the-shelf natural killer (NK) and T-cell product candidates derived from clonal master iPSC lines for the treatment of cancer. The firm's product pipeline includes FT596, FT538, FT576, FT536, FT573, FT819, FT500 and FT516. FT516 is an investigational off-the-shelf NK cell cancer immunotherapy derived from a clonal master iPSC line engineered to express a novel CD16 (hnCD16) Fc receptor. FT596 is an investigational off-the-shelf CAR NK cell cancer immunotherapy derived from a clonal engineered master iPSC line.

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Last Earnings Call
Fiscal Period
Q1 2024
Call Date
May 9, 2024
AI Summary
Q1 2024

Cash Position: Fate Therapeutics ended Q1 2024 with $391 million in cash, cash equivalents, and investments, providing operating runway into the second half of 2026.

Revenue: Q1 revenue was $1.9 million, consistent with prior quarters, reflecting research funding from the Ono Pharmaceutical collaboration.

Pipeline Progress: Key updates were shared on FT819 (off-the-shelf CAR-T) and FT522 (CAR NK) programs, including initial lupus patient dosing and promising early safety and translational data.

Clinical Milestones: Management expects to report data from 3–5 patients for FT819 in lupus and FT825 in solid tumors, initiate multi-indication studies for FT522, and amend protocols to test FT819 with single-agent cytoxan, all by year-end.

Safety Profile: FT819 and FT522 showed favorable safety, with no dose-limiting toxicities and low rates of adverse events in early studies.

Cost Guidance: 2024 operating expenses are expected between $215 million and $230 million, with over $270 million in cash projected at year-end.

Strategic Shift: The company is focusing FT819 clinical development on autoimmune diseases and pioneering less toxic conditioning regimens.

Competitive Landscape: Management acknowledged the potential impact of T-cell engagers and aims to differentiate through safety, patient accessibility, and off-the-shelf convenience.

Key Financials
Cash, Cash Equivalents, and Investments
$391 million
Revenue
$1.9 million
Research and Development Expenses
$32.1 million
General and Administrative Expenses
$20.9 million
Total Operating Expenses
$53 million
Net Loss
$48 million
EPS
$0.47 per share loss
Earnings Call Recording
Other Earnings Calls

Management

Mr. J. Scott Wolchko
Founder, CEO, CFO, President, Principal Financial & Accounting Officer and Director
No Bio Available
Ms. Cindy R. Tahl J.D.
Chief Legal & Compliance Officer and Corporate Secretary
No Bio Available
Dr. Bahram Valamehr Ph.D.
President of Research & Development
No Bio Available
Dr. Jerome Bressi Ph.D.
Chief Regulatory & Quality Officer
No Bio Available
Mr. Andrew Henry
Senior Vice President of Clinical Operations
No Bio Available

Contacts

Address
CALIFORNIA
San Diego
12278 Scripps Summit Drive
Contacts
+18588751803.0
fatetherapeutics.com