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Sep 30, 2023
Fate Therapeutics Q3 2023 Earnings Report
Fate Therapeutics reported Q3 2023 financial results and business updates.
Key Takeaways
Fate Therapeutics reported $1.9 million in revenue for the third quarter of 2023. The company's cash, cash equivalents, and investments totaled $349.7 million as of September 30, 2023, providing a cash runway into the second half of 2025. Several key milestones were achieved, including the initiation of patient enrollment in the Phase 1 study of FT522 and the FDA clearance of IND applications for FT825/ONO-8250 and FT819.
Phase 1 study of FT522 ADR-armed, CD19-targeted CAR NK cell program is open for enrollment for B-cell Lymphoma.
IND application was cleared by the FDA for FT825/ONO-8250 CAR T-cell program for solid tumors.
iPSC-derived CAR T-cell product platform expanded into autoimmunity with IND application cleared by the FDA for FT819 CD19-targeted 1XX CAR T-cell program for Systemic Lupus Erythematosus.
$350 million in cash, cash equivalents, and investments to support runway into 2H25.
Revenue by Segment
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