Fate Therapeutics Conference Call Summary Company Overview - **Company**: Fate Therapeutics (NasdaqGM:FATE) - **Event**: 2026 Conference on March 09, 2026 - **Key Speaker**: Bob Valamehr, CEO Core Points and Arguments FT819 Overview - FT819 is an allogeneic CAR T-cell therapy, differing from traditional CAR T therapies by utilizing a master cell bank, allowing for consistent and uniform production of the therapy [4][8] - The master cell bank can produce approximately **10 million doses**, with each dose containing around **1 billion cells** [4][7] - The therapy is designed to ensure safety and controlled expansion of CAR T-cells, addressing concerns of adverse events associated with uncontrolled cell expansion [9][10] Clinical Focus and Efficacy - FT819 targets **CD19** and is being advanced for use in **autoimmune diseases** such as lupus nephritis, myositis, systemic sclerosis, and vasculitis [12] - The therapy has shown promising results in treating nearly **70 patients**, with a focus on balancing activity and safety [10][11] - In aggressive DLBCL, the complete response rate was about **40%**, but durability was an issue due to the design of the CAR [10][11] Manufacturing and Accessibility - The current facility can produce **50,000 doses** at full scale, with a cost of goods at **$3,000 per dose**, providing a competitive advantage [22] - FT819 is designed for outpatient therapy, allowing patients to receive treatment without extended hospital stays, enhancing accessibility for those with chronic conditions [23][24] Regulatory Path and Future Trials - The company is preparing for a pivotal Phase 2 trial focusing on lupus nephritis, with complete renal response as the primary endpoint [25] - Initial results show that the first two patients treated achieved a complete renal response within **6 months** [30] - The company aims to complete the single-arm study quickly, with expectations to enroll around **25 lupus patients** by summer [33] Next Generation Products - Fate Therapeutics is developing next-generation products, FT839 and FT836, which utilize multiplex editing to eliminate the need for conditioning and target a broader range of autoimmune diseases [62][66] - FT839 includes a dual-targeting approach (CD19 and CD38) to address multiple complex autoimmune diseases and potentially create immune tolerance [65][66] Market Position and Competitive Landscape - The company believes FT819 is superior to existing therapies like obinutuzumab and voclosporin, emphasizing its safety, accessibility, and efficacy [42] - The unique single-administration approach of FT819 positions it favorably against traditional therapies that require ongoing treatment [49] Additional Important Content - The discussion highlighted the importance of safety in CAR T therapies, with FT819 showing no instances of ICANS or GVHD, and low-grade CRS [24] - The CEO emphasized the need to demonstrate the safety and efficacy of FT819 to regulatory agencies to ensure it is held to the same standards as other approved products [42] - The company is exploring the potential for extra-renal lupus treatments and is in discussions with the FDA regarding endpoints for these studies [39] This summary encapsulates the key points discussed during the Fate Therapeutics conference call, focusing on the company's innovative CAR T-cell therapy, its clinical applications, manufacturing capabilities, and future directions in research and development.

Core Insights - Fate Therapeutics has made significant progress in 2025, particularly with the outpatient treatment of FT819 off-the-shelf CAR T cells, which enhances accessibility for autoimmune patients and improves health system economics [2][5] - The company is advancing towards its first Phase 2 clinical trial in lupus nephritis and is actively recruiting patients for the Phase 1 basket study of FT819 across multiple regions [2][3] - FT819 has shown promising clinical results, including a 78% reduction in disease activity in systemic lupus erythematosus patients and improvements in systemic sclerosis patients [5][7] Clinical Development & Program Updates - FT819 is an off-the-shelf CD19-targeting CAR T-cell product designed for improved safety and efficacy, produced from a clonal master induced pluripotent stem cell (iPSC) bank [3][12] - The Phase 1 clinical trial of FT819 is currently enrolling patients at 16 sites in the U.S., U.K., and EU, focusing on various autoimmune diseases [3][4] - The outpatient treatment model for FT819 eliminates the need for extended hospitalization and conditioning chemotherapy, facilitating broader patient access [5][6] Financial Overview - As of December 31, 2025, the company reported cash, cash equivalents, and investments totaling $205 million, providing a runway through the end of 2027 [9][11] - Total revenue for the fourth quarter of 2025 was $1.4 million, with total operating expenses of $36.1 million, resulting in a net loss of $32.4 million for the quarter [16][19] - The company has reduced operating expenses by 30% in 2025 compared to 2024, which supports the achievement of key clinical and collaboration milestones [9][11] Next-Generation CAR T-cell Programs - FT836, a next-generation CAR T-cell product, has demonstrated early clinical activity in colorectal cancer without the use of conditioning chemotherapy, showing over a 50% reduction in carcinoembryonic antigen (CEA) levels [6][11] - The company has secured a $4 million award from the California Institute of Regenerative Medicine to support IND-enabling activities for FT836 [8] - FT839, another product candidate, is designed to target multiple antigens and is expected to enter clinical investigation for autoimmune diseases and hematologic malignancies in 2026 [11][12]

TRANSFORMING THE LIVES OF PATIENTS WITH AUTOIMMUNE DISEASES AND CANCER Making Cell Therapies Accessible to AllTM Corporate Presentation February 2026 © 2026 Fate Therapeutics. All rights reserved. - 1 - Q1 2026 Business Updates & Near-Term Objectives Competitively positioned to accelerate clinical stage development | | Milestones Achieved | Near Term Next Steps | | --- | --- | --- | | | ✓ 15 lupus patients enrolled with 7 initial sites, with 16 | Complete Phase 1 SLE cohort enrollment by mid-2026 | | Autoim ...

Core Insights - Fate Therapeutics continues to show significant clinical progress with its FT819 CAR T-cell therapy for systemic lupus erythematosus (SLE), demonstrating meaningful and durable responses with a favorable safety profile [2][4] - The company is expanding its clinical trial capacity, including international sites, to enhance patient access to FT819 [2] - New preclinical data for next-generation CAR T-cell programs FT836 and FT839 indicate improved efficacy and safety for treating hematologic malignancies and autoimmune diseases [3][4] Clinical Trial Updates - FT819 is currently in a Phase 1 trial with 12 SLE patients treated, showing sustained clinical responses and durable B-cell depletion without intensive conditioning chemotherapy [2][5] - As of November 25, 2025, 12 SLE patients were treated across 14 clinical sites, with 10 patients having at least one month of follow-up [5] - Clinical SLEDAI-2K scores showed significant reductions, with mean scores dropping by 50% to 70% at three and six months post-treatment [8] Safety and Efficacy - The updated clinical data indicate no dose-limiting toxicities and no Grade >2 cytokine release syndrome (CRS), immune effector cell-associated neurotoxicity syndrome (ICANS), or graft-versus-host disease (GVHD) reported [6] - Five out of ten patients achieved a clinical SLEDAI-2K score of 0, with improvements in fatigue scores observed across all patients with multiple assessments [6][8] Next-Generation Programs - FT836 and FT839 are designed to target stress antigens and B-cell malignancies, showing enhanced potency and functional persistence compared to existing therapies [3][4] - These next-generation programs aim to provide a comprehensive treatment approach for multiple myeloma and other hematologic malignancies [3] Company Overview - Fate Therapeutics is focused on developing off-the-shelf, iPSC-derived cellular immunotherapies, leveraging its proprietary iPSC product platform to create engineered cell products that are uniform and scalable [9][10] - The company holds a robust intellectual property portfolio with over 500 issued patents and 500 pending applications, supporting its innovative approach in the biopharmaceutical industry [9]

Summary of Fate Therapeutics FY Conference Call Company Overview - **Company**: Fate Therapeutics (NasdaqGM:FATE) - **Focus**: Development of induced pluripotent stem cells (iPSC)-derived cell therapies for immune diseases and oncology [1][2] Key Points and Arguments iPSC Technology - **Unique Properties**: iPSCs can grow indefinitely and differentiate into any of the 200 cell types in the body, allowing for the creation of a master cell bank [3][4] - **Off-the-Shelf Concept**: iPSCs enable the production of consistent and uniform drug products, reducing costs and improving accessibility [4][5] Transition to CAR iT Cells - **Shift from T Cells to CAR iT Cells**: The company transitioned from developing T cells to CAR iT cells due to the latter's superior response to stimulation and expansion, which is crucial for treating aggressive diseases [6][7][8] FT819 Development - **Target**: FT819 is a CD19 CAR iT cell therapy initially aimed at aggressive DLBCL, showing a 40% complete response (CR) rate in CAR-T naive patients [10][11] - **Lupus Indication**: The therapy has been adapted for lupus, demonstrating a favorable safety profile and significant efficacy improvements in various clinical metrics [12][13] Market Potential - **Patient Population**: The potential patient population for lupus is significantly larger than for DLBCL, with estimates of 200 million individuals affected [13][14] - **Manufacturing Capacity**: The company projects the ability to produce approximately 50,000 doses per year, with a cost of goods around $3,000 per dose [15][16] Clinical Development and Future Plans - **Next Steps**: The company aims to initiate pivotal registration studies for FT819 in lupus by 2026 and explore additional autoimmune diseases [20][21] - **Pipeline Expansion**: Future therapies include FT839 for more complex diseases and FT836 targeting MICA/MICB in oncology [21][27] Innovations in Treatment - **Reduced Conditioning**: The company is working towards outpatient treatment options with lighter conditioning regimens, enhancing patient experience and accessibility [24][26] - **Sophisticated Edits**: FT839 will include additional edits to target CD38, aiming for a broader approach in treating autoimmune diseases [22][23] Financial Position - **Cash Reserves**: Fate Therapeutics reported a cash position of approximately $226 million, extending its runway through the end of 2027, allowing for continued development of its therapies [35] Additional Important Information - **Partnerships**: The company is collaborating with Ono for the development of FT825, a HER2 CAR iT therapy, which has faced challenges in patient enrollment due to prior treatments affecting HER2 expression [33][34] - **Patient Enrollment**: The company is experiencing faster enrollment rates in lupus compared to competitors, with nearly 14 clinical sites activated [19][20] This summary encapsulates the critical insights and developments discussed during the Fate Therapeutics FY Conference Call, highlighting the company's innovative approaches and future directions in cell therapy.

Core Insights - Fate Therapeutics has received authorization from UK and EU authorities to activate clinical trial sites for FT819, an off-the-shelf CD19-targeted CAR T-cell product candidate, aimed at improving patient accessibility with less-intensive or no conditioning [1][3] - The company reported promising preliminary clinical data for FT819, showing significant reductions in disease activity in patients with systemic lupus erythematosus (SLE) and systemic sclerosis (SSc) [5][6] - Fate Therapeutics has a strong financial position with $226 million in cash and equivalents projected to fund operations through the end of 2027 [1][12] R&D Highlights and Updates - FT819 is designed to be a cost-effective, off-the-shelf CAR T-cell therapy that can be stored for on-demand availability, overcoming limitations of traditional patient-sourced therapies [3][11] - The first patient with systemic sclerosis has been treated in a Phase 1 study, demonstrating the potential of FT819 to address significant unmet medical needs in autoimmune diseases [5][6] - FT836, another CAR T-cell candidate targeting solid tumors, has also begun patient treatment without conditioning chemotherapy, showcasing the versatility of the company's technology [7][8] Financial Results - For Q3 2025, the company reported total revenue of $1.7 million, primarily from preclinical development activities [12][17] - Total operating expenses for the same period were $36.5 million, with research and development expenses accounting for $25.8 million [12][17] - The net loss for Q3 2025 was $32.3 million, reflecting ongoing investments in R&D and operational activities [12][17] Corporate Updates - Kamal Adawi has been appointed as Chief Financial Officer, bringing over 20 years of financial leadership experience in the life sciences sector [9] - The company continues to strengthen its iPSC platform and next-generation CAR T-cell programs, focusing on expanding access to innovative therapies for patients [2][3]

Core Insights - Fate Therapeutics has reported promising initial clinical data for FT819, an off-the-shelf CAR T-cell therapy for moderate-to-severe systemic lupus erythematosus (SLE), demonstrating significant clinical activity and a favorable safety profile [2][3] - The company aims to accelerate patient enrollment in its Phase 1 trial and is in discussions with the FDA regarding a registrational study design, with plans to initiate a pivotal study in 2026 [2][8] Clinical Data Summary - As of September 25, 2025, 10 patients have been treated with FT819, with 5 patients showing significant reductions in SLE Disease Activity Index (SLEDAI-2K) scores and improvements in renal response [1][3] - Patients treated with a less-intensive conditioning regimen exhibited notable reductions in SLEDAI-2K scores, with one patient achieving complete renal response and remaining in drug-free remission at 15 months [1][4] - In the conditioning-free regimen, patients on maintenance therapy also showed meaningful reductions in disease activity scores, with one patient achieving low lupus disease activity state by 3 months [5] Safety Profile - The safety profile of FT819 is favorable, with no dose-limiting toxicities observed and a low incidence of low-grade cytokine release syndrome [6][8] - All patients were discharged on the same day post-infusion, supporting the potential for outpatient administration [6][8] Mechanistic Insights - FT819 treatment led to rapid CD19+ B cell depletion and immune remodeling towards a naïve B-cell repertoire, correlating with reductions in disease activity [8] - The unique ability of FT819 to remodel the B-cell compartment without intensive conditioning chemotherapy highlights its transformative potential in treating autoimmune diseases [8] Program Expansion and Future Outlook - Fate Therapeutics is expanding its clinical program to include additional cohorts for other autoimmune diseases and is preparing for a pivotal study in 2026 [8][9] - The company currently has approximately 600 cryopreserved drug product bags of FT819 available for patient treatment [9]

Core Insights - Fate Therapeutics has reported promising initial clinical data for FT819, an off-the-shelf CAR T-cell therapy for moderate-to-severe systemic lupus erythematosus (SLE), showing significant clinical activity and a favorable safety profile [2][3] - The company aims to accelerate patient enrollment in its Phase 1 trial and is in discussions with the FDA for a registrational study design, targeting a pivotal study initiation in 2026 [2][10] Clinical Data Summary - A total of 10 patients with treatment-refractory moderate-to-severe SLE have been treated with FT819, with 5 patients surpassing the 3-month post-treatment evaluation showing significant reductions in SLE Disease Activity Index (SLEDAI-2K) scores [1][3] - Patients with lupus nephritis achieved complete renal response (CRR) at 6 months, with one patient maintaining drug-free remission at 15 months [1][4] Treatment Regimens - The study includes two regimens: a less-intensive conditioning regimen and a conditioning-free regimen, with patients showing meaningful improvements in disease activity scores and renal function [3][6] - In the less-intensive conditioning regimen, patients demonstrated significant reductions in SLEDAI-2K scores, with one patient achieving a 16-point reduction and maintaining remission [4][5] Safety Profile - FT819 has shown a favorable safety profile, with no dose-limiting toxicities reported and low incidence of cytokine release syndrome (CRS) among treated patients [9] - All patients were discharged on the same day post-infusion, indicating potential for outpatient administration [9] Program Expansion and Future Outlook - The company is expanding its clinical program to include additional cohorts for other autoimmune diseases, with over 60 patients treated across various indications [9] - Fate Therapeutics has approximately 600 cryopreserved drug product bags of FT819 available for patient treatment [10]

Core Insights - Fate Therapeutics has appointed Kamal Adawi as Chief Financial Officer effective October 20, 2025, bringing over 20 years of financial leadership experience in the life sciences industry [1][2][3] Company Overview - Fate Therapeutics is a clinical-stage biopharmaceutical company focused on developing a pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies [4] - The company aims to create off-the-shelf cellular immunotherapies that are broadly accessible and require less intensive or no conditioning chemotherapy, potentially transforming treatment for autoimmune diseases and cancer [3][4] Leadership Appointment - Kamal Adawi's previous experience includes serving as CFO for Mindera Health and Exagen Inc., where he led Exagen through a successful IPO [2][3] - His expertise includes financial strategy, capital formation, and operational growth, which will support the company's clinical programs, particularly the development of FT819 for systemic lupus erythematosus (SLE) [2][3] Stock Options and Awards - As part of his employment, Mr. Adawi will receive an option to purchase 375,000 shares of common stock, vesting over four years, and an award of 75,000 restricted stock units, also subject to vesting conditions [3]

Fate Therapeutics Conference Call Summary Company Overview - **Company**: Fate Therapeutics (FATE) - **Industry**: Biotechnology, specifically focusing on CAR T cell therapies for oncology and autoimmune diseases - **Tagline**: "Making transformative medicine accessible to all" [2] Key Points and Arguments CAR T Cell Technology - Fate Therapeutics is pioneering CAR T cell therapies, emphasizing the unique ability of CAR T to expand upon antigen engagement, making it a "living drug" [3] - The company utilizes stem cells to produce nearly unlimited amounts of CAR T cells, aiming for an "off the shelf" solution that enhances accessibility [3][4] Competitive Landscape - The company acknowledges competition in the autoimmune space, particularly with CD19 CAR T therapies and other modalities like T cell engagers (TCEs) [5] - Fate's FT819 is positioned as superior due to its accessibility and unique mechanism, which does not rely on the patient's immune system as heavily as other therapies [6][8] Efficacy and Safety - FT819 has shown promising preclinical results, with a 40% complete response (CR) rate in aggressive lymphoma patients [13] - The company aims to balance safety and efficacy, with a focus on operational feasibility, including reducing hospitalization requirements to potentially none by year-end [16][29] Treatment Regimens - Two treatment regimens are being explored: - **Regimen A**: Light conditioning with cyclophosphamide, which is familiar to rheumatologists [18][20] - **Regimen B**: Administering FT819 on top of maintenance therapy, with ongoing dose-finding studies [22][24] - The company has received RMAT designation from the FDA for both regimens, indicating a collaborative relationship with regulatory bodies [27] Enrollment and Site Activation - Fate has activated eight sites within four months, with expectations to reach around 20 sites by year-end, significantly improving patient enrollment rates [30][34] - The company is experiencing a shift from low patient enrollment per site to a more traditional model of higher patient numbers per site [32] Future Data and Trials - Upcoming data presentations are expected at ACR, with a focus on the efficacy and safety of FT819 and the removal of hospitalization requirements [37] - The company is also expanding its pipeline to include other autoimmune diseases beyond lupus, with positive discussions with the FDA regarding additional indications [39] Manufacturing and Capacity - Fate has established a master cell bank capable of producing 400 vials, each yielding trillions of CAR T cells, indicating a robust manufacturing capability [42][44] - The company can produce approximately 50,000 doses per year and is exploring options for increased production without additional capital investment [44][45] Financial Position - Fate has extended its cash runway to 2027, with a focus on prioritizing the FT819 program while also advancing next-generation products [59] - The company is strategically managing its resources to ensure successful completion of pivotal studies and continued development of its pipeline [59] Additional Important Insights - The CEO emphasized the importance of operational feasibility and patient experience, aiming to minimize the burden on patients undergoing treatment [15][16] - The company is leveraging its unique manufacturing capabilities to differentiate itself from competitors in the CAR T space [45][46]