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Mar 31, 2020
Fate Therapeutics Q1 2020 Earnings Report
Reported financial results and highlighted operational progress, including a worldwide collaboration with Janssen and the treatment of the first patient with FT596.
Key Takeaways
Fate Therapeutics reported its Q1 2020 financial results, including revenue of $2.5 million and cash, cash equivalents, and investments of $219.4 million. They also highlighted the formation of a worldwide collaboration with Janssen and the treatment of the first patient with FT596.
First patient treated with FT596 for advanced diffuse large B-cell lymphoma.
Second FT596 IND allowed by FDA for relapse prevention after autologous HSCT.
IND application submitted to FDA for FT538, the first CRISPR-edited, iPSC-derived cell therapy, for multiple myeloma.
Strategic collaboration formed with Janssen for novel iPSC-derived cell-based cancer immunotherapies.
Fate Therapeutics
Fate Therapeutics
Fate Therapeutics Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
Fate Therapeutics is focused on advancing its iPSC-derived cell-based cancer immunotherapies and expects to submit an IND application to the FDA for clinical investigation of FT819 in the second quarter of 2020.
Positive Outlook
- Advancing FT596 in clinical trials for B-cell malignancies and chronic lymphocytic leukemia.
- Expanding the clinical footprint of FT596 into relapse prevention following autologous HSCT.
- Submitted IND application to the FDA for FT538 for multiple myeloma.
- Entering into a transformative collaboration with Janssen.
- Presenting IND-enabling data for FT819 iPSC-derived CAR T-cell at AACR II.
Challenges Ahead
- COVID-19 has impacted clinical site initiation.
- COVID-19 has slowed the cadence of new patient enrollment.
- COVID-19 has changed how we conduct our day-to-day business.
- Risk that results observed in prior studies of the Company’s product candidates will not be observed in ongoing or future studies.
- Risk of a delay or difficulties in the manufacturing of the Company’s product candidates.