Fate Therapeutics(FATE) - 2025 Q3 - Quarterly Results

Financial Performance - Fate Therapeutics reported total revenue of $1.7 million for Q3 2025, derived from preclinical development activities[12] - Collaboration revenue for Q3 2025 was $1.741 million, down from $3.074 million in Q3 2024, representing a decrease of 43.4%[17] - Total operating expenses for Q3 2025 were $36.5 million, including R&D expenses of $25.8 million and G&A expenses of $10.6 million[12] - Total operating expenses for Q3 2025 were $36.476 million, a reduction of 34.2% compared to $55.451 million in Q3 2024[17] - Net loss for Q3 2025 was $32.250 million, compared to a net loss of $47.678 million in Q3 2024, indicating an improvement of 32.3%[17] - The company reported total other income of $2.485 million for Q3 2025, compared to $4.699 million in Q3 2024, a decrease of 47.2%[17] - Comprehensive loss for the nine months ended September 30, 2025, was $104.056 million, down from $133.289 million in 2024, indicating a reduction of 21.9%[17] Cash and Assets - Cash, cash equivalents, and investments as of September 30, 2025, were $225.7 million, providing a projected operating runway through year-end 2027[12] - Cash and cash equivalents increased to $40.622 million as of September 30, 2025, up from $36.056 million at the end of 2024[19] - Total assets decreased to $343.671 million as of September 30, 2025, down from $440.694 million at the end of 2024, reflecting a decline of 22%[19] Research and Development - FT819, an off-the-shelf CAR T-cell product, has shown promising clinical activity in treating systemic lupus erythematosus (SLE), with a mean SLEDAI-2K score decrease of 10.7 points at 3 months and 14 points at 6 months for patients on Regimen A[5] - The first patient with systemic sclerosis was treated in a Phase 1 study, demonstrating the potential for FT819 to address significant unmet medical needs in autoimmune diseases[5] - The company received regulatory authorization from the UK and EU to initiate clinical trials for FT819, marking a significant step in international expansion[4] - FT836, a MICA/B-targeted CAR T-cell, was administered to the first patient without conditioning chemotherapy, showcasing the potential for broad accessibility in solid tumor treatments[8] - The ongoing Phase 1 study for FT825/ONO-8250 in advanced solid tumors is currently at the third dose level of 900 million cells, with no dose-limiting toxicities observed[7] - The company plans to present data on FT836's applicability against multiple myeloma at the upcoming ASH Annual Meeting, supported by a $4 million award from CIRM[8] - Research and development expenses for the nine months ended September 30, 2025, were $82.404 million, down from $101.392 million for the same period in 2024, a decrease of 18.7%[17] - General and administrative expenses for the nine months ended September 30, 2025, were $35.856 million, compared to $58.907 million in 2024, a reduction of 39.1%[17] Leadership Changes - Kamal Adawi was appointed as Chief Financial Officer, bringing over 20 years of financial leadership experience in the life sciences industry[10] Share Information - The weighted-average common shares used to compute basic and diluted net loss per share for Q3 2025 were 118,998,693, compared to 117,769,161 in Q3 2024[17]