Core Viewpoint - Fate Therapeutics reported a narrower loss in Q3 2024 compared to the previous year, driven by increased collaboration revenues, and is focusing on its immuno-oncology pipeline while facing a downward trend in estimates [2][4][18]. Financial Performance - The company reported a loss of $0.40 per share in Q3 2024, which was better than the Zacks Consensus Estimate of a loss of $0.42 [2]. - Collaboration revenues reached $3.1 million, exceeding the Zacks Consensus Estimate of $1 million and up from $1.9 million in the same quarter last year [4]. - R&D expenses increased by 1.1% to $34.6 million, while G&A expenses rose by 9.8% to $20.8 million [5]. - As of September 30, 2024, cash, cash equivalents, and investments totaled $330.5 million [6]. Pipeline Developments - Fate Therapeutics is developing universal, off-the-shelf cell products using its proprietary iPSC platform, with a focus on immuno-oncology [7]. - A phase I study of FT819 for systemic lupus erythematosus (SLE) is ongoing, with initial results showing no dose-limiting toxicities or severe adverse events [8][10]. - The company is co-developing FT825/ONO-8250 with ONO Pharmaceutical, with initial clinical data showing a favorable safety profile [11][13]. - A phase I study of FT522 for relapsed/refractory B-cell lymphoma is also ongoing, with no reported severe adverse events [14][15]. Market Position and Outlook - Estimates for Fate Therapeutics have been trending downward, indicating a potential shift in market sentiment [16][18]. - The company holds a Zacks Rank of 3 (Hold), suggesting an expectation of in-line returns in the coming months [18]. - Fate Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry, which includes other players like Celldex Therapeutics, which reported significant revenue growth [19].

Core Viewpoint - Fate Therapeutics announces the retirement of Scott Wolchko as President and CEO, effective December 31, 2024, with Bob Valamehr set to take over on January 1, 2025, continuing the company's mission in developing iPSC-derived cellular immunotherapies for cancer and autoimmune disorders [1][2][3]. Company Leadership Transition - Scott Wolchko has led Fate Therapeutics for 10 years, establishing it as a leader in off-the-shelf NK cell and T-cell immunotherapies, treating over 300 patients with innovative product candidates [2]. - Bob Valamehr, the current President of R&D, has been instrumental in developing the iPSC platform and has overseen the establishment of a world-class R&D organization, resulting in over 500 issued patents and numerous high-tier publications [3]. Product Development and Clinical Trials - The company's pipeline includes FT819, an off-the-shelf, CD19-targeted CAR T-cell product currently in a Phase 1 clinical trial for systemic lupus erythematosus (SLE), with initial data showing a favorable safety profile [4][5]. - FT819 has shown promising results, including a patient achieving drug-free clinical remission after treatment, supporting the potential of the iPSC platform across various diseases [5]. iPSC Product Platform - Fate Therapeutics utilizes a proprietary iPSC product platform that allows for the generation of clonal master iPSC lines, enabling the manufacture of engineered cell products that are uniform, can be stored for off-the-shelf availability, and can be combined with other therapies [6][7]. - The platform is backed by a robust intellectual property portfolio, including over 500 issued patents and 500 pending applications, positioning the company for future growth in the cellular therapeutics market [7][8].

SAN DIEGO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to bringing a first-in-class pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune diseases, today announced that the Company will participate in the following upcoming investor conferences: Citi’s 2024 Global Healthcare Conference, including a panel discussion at 2:30 PM ET on Tuesday, December 3, 2024 in ...

Fate Therapeutics, Inc. (FATE) presented encouraging initial clinical and translational data from the first patient treated in its early-stage study on experimental pipeline candidate  FT819.Data showed that the first patient suffering from active lupus nephritis (LN) and treated with FT819 had favorable clinical experience, achieved drug-free clinical remission and continued on-study free of all immunosuppressive therapy.Shares gained 12.38% on the news data.Shares of Fate have lost 42.8% year to date comp ...

Fate Therapeutics (FATE) reported a loss of 40 cents per share in the third quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 42 cents. The company reported a loss of 46 cents per share in the year-ago period.The loss narrowed year over year due to higher collaboration revenues.The company earned collaboration revenues of $3.1 million, which beat the Zacks Consensus Estimate of $1 million. The figure also increased from $1.9 million reported in the year-ago quarter.Revenues were deriv ...

Fate Therapeutics (FATE) came out with a quarterly loss of $0.40 per share versus the Zacks Consensus Estimate of a loss of $0.42. This compares to loss of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.76%. A quarter ago, it was expected that this clinical-stage biotech company that develops stem cell treatments would post a loss of $0.47 per share when it actually produced a loss of $0.33, delivering a surprise of 2 ...

Initial Clinical Data from Phase 1 Autoimmunity Study of FT819 1XX CAR T-cell Product Candidate to be Presented in 4Q24; Second Treatment Arm Adding FT819 to Maintenance Therapy without Conditioning Chemotherapy Opened for Enrollment FT522 Multi-indication IND Application for Conditioning-free Treatment of B Cell-mediated Autoimmune Diseases Allowed by FDA; Initial Phase 1 Clinical Data in B-cell Lymphoma to be Presented at ACR Convergence Initial Low-Dose Cohort of FT825 / ONO-8250 Shows Favorable Safety P ...

It has been about a month since the last earnings report for Fate Therapeutics (FATE) . Shares have added about 18.7% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Fate Therapeutics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. FATE Q2 Earnings Beat on Lower Ex ...

Investors might want to bet on Fate Therapeutics (FATE) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. Since a changing e ...

Fate Therapeutics (FATE) reported a loss of 33 cents per share in the second quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 47 cents. The company reported a loss of 54 cents per share in the year-ago period. The loss narrowed year over year due to higher collaboration revenues and lower R&D expenses. The company earned collaboration revenues of $6.8 million, which beat the Zacks Consensus Estimate of $1 million. The figure also increased from $0.9 million reported in the year-ago q ...