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Jun 30, 2020
Fate Therapeutics Q2 2020 Earnings Report
Reported a partial response with FT596 monotherapy at the first dose level, initiated enrollment with FT596 in combination with Rituximab for B-cell Lymphoma, and had INDs cleared for FT538 and FT819.
Key Takeaways
Fate Therapeutics reported its Q2 2020 financial results, highlighting a revenue of $5.5 million and ending the quarter with $533.4 million in cash and short-term investments. The company also reported a partial response with FT596 monotherapy and initiated enrollment with FT596 in combination with Rituximab for B-cell Lymphoma.
Partial response reported with FT596 monotherapy at the first dose level in refractory DLBCL patient.
Enrollment initiated with FT596 in combination with Rituximab for B-cell Lymphoma.
IND cleared for FT538, the first CRISPR-edited, iPSC-derived Cell Therapy, for AML and Multiple Myeloma.
Worldwide collaboration formed with Janssen for Novel iPSC-derived CAR NK and CAR T-Cell Product Candidates Targeting up to Four Tumor-associated Antigens.
Forward Guidance
This release contains forward-looking statements regarding the Company’s results of operations, financial condition and sufficiency of its cash and cash equivalents to fund its operations, as well as statements regarding the advancement of and plans related to its product candidates, clinical studies and preclinical research and development programs, the Company’s progress, plans and timelines for the manufacture and clinical investigation of its product candidates, the timing for the Company’s receipt of data from its clinical trials and preclinical studies, the Company’s development and regulatory strategy, the therapeutic and market potential of the Company’s product candidates, and the expected benefits of the Company's collaboration with Janssen.
Challenges Ahead
- Risks related to the impact of the COVID-19 pandemic on various aspects of the Company’s business and operations, including its ability to initiate, conduct and complete its clinical trials
- The risk that results observed in prior studies of the Company’s product candidates, including preclinical studies and clinical trials, will not be observed in ongoing or future studies involving these product candidates
- The risk of a delay or difficulties in the manufacturing of the Company’s product candidates or in the initiation of, or enrollment of patients in, any clinical studies
- The risk that the Company may cease or delay preclinical or clinical development of any of its product candidates for a variety of reasons (including requirements that may be imposed by regulatory authorities on the initiation or conduct of clinical trials or to support regulatory approval, difficulties or delays in patient enrollment in current and planned clinical trials, difficulties in manufacturing or supplying the Company’s product candidates for clinical testing, and any adverse events or other negative results that may be observed during preclinical or clinical development)
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