Fate Therapeutics(FATE)2025-03-05 21:02Financial Position - Fate Therapeutics reported $307 million in cash, cash equivalents, and investments, providing an operating runway projected through the end of 2026[1]. - Cash and cash equivalents decreased to $36,056,000 in 2024 from $41,870,000 in 2023, a decline of 14%[17]. - Total assets decreased to $440,694,000 in 2024 from $506,217,000 in 2023, a reduction of 13%[17]. - Stockholders' equity decreased to $318,726,000 in 2024 from $368,417,000 in 2023, a decline of 13%[17]. Revenue and Expenses - Total revenue for Q4 2024 was $1.9 million, derived from preclinical development activities for a collaboration candidate targeting an undisclosed solid tumor antigen[10]. - Collaboration revenue for Q4 2024 was $1,860,000, an increase of 11% from $1,676,000 in Q4 2023[15]. - Total operating expenses for Q4 2024 were $63.6 million, including $33.6 million in research and development expenses and $15.3 million in general and administrative expenses[10]. - Total operating expenses for Q4 2024 were $63,608,000, up 28% from $49,751,000 in Q4 2023[15]. - Research and development expenses for the year ended 2024 were $135,001,000, down 22% from $172,596,000 in 2023[15]. - General and administrative expenses for the year ended 2024 were $74,169,000, a decrease of 9% from $81,448,000 in 2023[15]. - Net loss for Q4 2024 was $52,153,000, compared to a net loss of $44,122,000 in Q4 2023, representing an increase of 18%[15]. - Net loss per common share for the year ended 2024 was $1.64, unchanged from the previous year[15]. - The company reported an impairment loss of $14,737,000 in Q4 2024, with no impairment loss reported in Q4 2023[15]. Clinical Development - The Phase 1 dose expansion for FT819 in systemic lupus erythematosus (SLE) has been initiated, targeting up to 10 patients at a dose of 360 million cells[3]. - No dose-limiting toxicities or cytokine release syndrome were reported in the first three patients treated with FT819 for SLE[6]. - The FDA has approved the inclusion of additional B cell-mediated autoimmune diseases in the FT819 Phase 1 study, with plans to initiate dose-expansion cohorts in 2025[6]. - FT825, in collaboration with Ono Pharmaceutical, is advancing into higher-dose cohorts for advanced solid tumors, with ongoing enrollment at the third dose level of 900 million cells[2]. - Initial clinical data for FT825 showed a favorable safety profile with no dose-limiting toxicities in heavily pre-treated patients[7]. - The company is evaluating unique clinical development opportunities for FT522 in autoimmunity, with the FDA allowing an IND application for multiple B cell-mediated autoimmune diseases[10]. Shareholder Information - As of December 31, 2024, common shares outstanding were 113.9 million, with pre-funded warrants and preferred shares totaling 3.9 million and 2.8 million, respectively[10].