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Jun 30, 2024
Fate Therapeutics Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024, and provided business updates.
Key Takeaways
Fate Therapeutics reported $6.8 million in revenue for the second quarter of 2024, derived from a milestone achievement and preclinical development activities under its collaboration with Ono Pharmaceutical. The company's cash, cash equivalents, and investments totaled $352.0 million as of June 30, 2024, with a projected operating runway through YE26.
Enrollment is ongoing with FT819 1XX CAR T-cell product candidate in Phase 1 autoimmunity study, with single-agent cyclophosphamide included as an alternative conditioning regimen.
The first patient was treated with FT522 CAR NK cell product candidate in the conditioning-free arm of Phase 1 B cell lymphoma study.
FT522 multi-indication IND application for conditioning-free treatment of autoimmune diseases is to be submitted in 3Q24.
Enrollment is ongoing with FT825 / ONO-8250 CAR T-cell product candidate as monotherapy in Phase 1 solid tumor study; dosing in combination with monoclonal antibody therapy is expected to initiate in 3Q24.
Fate Therapeutics
Fate Therapeutics
Fate Therapeutics Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
This release contains forward-looking statements regarding the Company’s results of operations, financial condition, anticipated operating expenses and cash runway, and sufficiency of its cash and cash equivalents to fund its operations, as well as statements regarding the advancement of and plans related to the Company's product candidates, clinical studies and preclinical research and development programs, the Company’s progress, plans and timelines for the clinical investigation of its product candidates, including the initiation and continuation of enrollment in the Company’s clinical trials, the initiation of additional clinical trials and additional dose cohorts in ongoing clinical trials of the Company’s product candidates, the availability of data from the Company’s clinical trials, the Company’s plans to submit additional IND applications for its product candidates and the timing thereof, the therapeutic and market potential of the Company’s research and development programs and product candidates, the Company’s clinical and product development strategy, and the Company’s expectations regarding progress and timelines, and the objectives, plans and goals of its collaboration with Ono.