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Sep 30, 2024
Fate Therapeutics Q3 2024 Earnings Report
Fate Therapeutics reported Q3 2024 financial results and business updates.
Key Takeaways
Fate Therapeutics reported $3.1 million in revenue for the third quarter of 2024, primarily from preclinical development activities under its collaboration with Ono Pharmaceutical. The company's cash, cash equivalents, and investments totaled $330.5 million as of September 30, 2024, which is projected to provide an operating runway through the end of 2026.
Initial clinical data from Phase 1 autoimmunity study of FT819 1XX CAR T-cell product candidate to be presented in 4Q24.
Second treatment arm adding FT819 to maintenance therapy without conditioning chemotherapy opened for enrollment.
FT522 multi-indication IND application for conditioning-free treatment of B Cell-mediated autoimmune diseases allowed by FDA; initial Phase 1 clinical data in B-cell lymphoma to be presented at ACR Convergence.
Initial low-dose cohort of FT825 / ONO-8250 shows favorable safety profile in Phase 1 solid tumor study; peripheral blood from first three patients demonstrates CAR T-cell expansion with maintenance of activated state.
Fate Therapeutics
Fate Therapeutics
Fate Therapeutics Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
Fate Therapeutics anticipates continued progress in its clinical programs, including presenting initial clinical data for FT819 and FT522 at upcoming medical conferences, and expects its current cash position to fund operations through YE26.
Positive Outlook
- Initial Phase 1 clinical data of FT819 CAR T-cell product will be presented in 4Q24.
- Second treatment arm for FT819, adding it to maintenance therapy without conditioning chemotherapy, has opened for enrollment.
- FDA allowed IND application for FT522 in B cell-mediated autoimmune diseases.
- Initial Phase 1 clinical data for FT522 in B-cell lymphoma will be presented at ACR Convergence.
- Low-dose cohort of FT825/ONO-8250 shows a favorable safety profile.
Challenges Ahead
- Risk that research and development programs and product candidates may not demonstrate the requisite safety, efficacy, or other attributes to warrant further development or to achieve regulatory approval.
- Risk that results observed in prior studies of the Company’s product candidates will not be observed in ongoing or future studies involving these product candidates.
- Risk of a delay or difficulties in the manufacturing of the Company’s product candidates or in the initiation and conduct of, or enrollment of patients in, any clinical trials.
- Risk that its product candidates may not produce therapeutic benefits or may cause other unanticipated adverse effects.
- Risk that the Company may incur operating expenses in amounts greater than anticipated.