Fate Therapeutics, Inc. (FATE) Market Cap
Fate Therapeutics, Inc. has a market capitalization of $155.2M.
Financials based on reported quarter end 2025-12-31
Price: $1.33
▼ -0.06 (-3.96%)
Market Cap: 155.21M
NASDAQ · time unavailable
CEO: Bahram Valamehr
Sector: Healthcare
Industry: Biotechnology
IPO Date: 2013-10-01
Website: https://www.fatetherapeutics.com
Fate Therapeutics, Inc. (FATE) - Company Information
Market Cap: 155.21M · Sector: Healthcare
Fate Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors. The company has a collaboration and option agreement with Ono Pharmaceutical Co. Ltd. for the development and commercialization of two off-the-shelf iPSC-derived CAR T-cell product candidates; strategic research collaboration and license agreement with Juno Therapeutics, Inc. to screen for and identify small molecule modulators that enhance the therapeutic properties of genetically-engineered T-cell immunotherapies; and a collaboration and option agreement with Janssen Biotech, Inc. Fate Therapeutics, Inc. was incorporated in 2007 and is headquartered in San Diego, California.
Analyst Sentiment
Based on 31 ratings
Analyst 1Y Forecast: $0.00
Average target (based on 4 sources)
Consensus Price Target
Low
$3
Median
$8
High
$145
Average
$40
Potential Upside: 2858.8%
Price & Moving Averages
Related Companies in Healthcare
Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"FATE generated revenue of $1.369M for the year ending December 31, 2025, while reporting a net loss of $32.374M and an EPS of -$0.27. With total assets of $318.937M and total liabilities of $111.753M, the company maintains a solid equity position of $207.184M. Notably, the operating cash flow, capital expenditures, free cash flow, and dividends paid are all reported as zero, indicating the company is not currently generating positive cash flow. FATE’s stock price is $1.13, reflecting a 20.11% increase over the last year and indicating positive market sentiment despite the lack of profitability. At present, there are no dividends, and shareholder returns rely solely on share price appreciation. Given the company's minimal revenue and significant net losses, a cautious approach is warranted for potential investors. While the 20.11% appreciation metric may attract attention, the overall financial health requires careful consideration."
Revenue Growth
Minimal revenue raises growth concerns.
Profitability
Significant net loss of $32.374M indicates poor profitability.
Cash Flow Quality
No positive cash flow reported.
Leverage & Balance Sheet
Solid equity position with manageable debt.
Shareholder Returns
20.11% price increase indicates some shareholder return.
Analyst Sentiment & Valuation
Mixed sentiment; low revenue impacts valuation.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
So What? In Q1 2024, Fate ended with ~ $391M cash/investments after the $80M equity raise plus $20M prefunded warrants, preserving runway to 2H 2026. Operationally, management’s tone is constructive: FT819’s first lupus patient was discharged after 3 days with no notable adverse events (still within the 30-day DLT window), and the company is moving toward cy/flu-free regimens—amending FT819’s autoimmunity protocol in 2Q24 to add single-agent Cytoxan. However, the analyst Q&A highlights the real pressure points: autoimmunity adoption is constrained by cy/flu conditioning acceptance, safety will dominate efficacy discussions, and competitors like CD19 engagers are viewed as disruptive enough that Fate must compete on a target product profile head-to-head. The transcript also shows execution questions around read-through (how conditioning changes potency/expansion) and how to interpret ex vivo ET ratios into in-vivo dose needs—indicating skepticism that could emerge if early biomarkers don’t translate.
Growth Catalysts
- FT819: first lupus patient treated; single-dose 360M cells showed rapid/deep CD19+ B-cell depletion (translational/ex vivo assay) and no notable adverse events at discharge
- FT819: protocol amendment planned (2Q24) to add single-agent cyclophosphamide (Cytoxan) conditioning
- FT819: dose escalation completed—43 patients treated up to 1 billion cells without HLA matching
- FT522: first 3 patients in conditioning arm completed safety assessment with no dose-limiting toxicities; no CRS/ICANS/GvHD observed
- FT522: enrollment initiated in no-conditioning arm at 300M cells per dose; dose escalation ongoing in conditioning arm to 900M cells
- FT825: collaboration with Ono—first patient treated in Phase I (HER2+ gastroesophageal junction adenocarcinoma) with conditioning followed by single dose 100M cells
Business Development
- Collaboration with Ono Pharmaceutical for FT825 (co-development/co-commercialization arrangement)
- Memorial Sloan Kettering Cancer Center (MSK): license agreement milestone triggered in 2021; up to 2 additional milestone payments potentially owed (valued quarterly)
Financial Highlights
- Net cash position: cash, cash equivalents and investments ≈ $391M at end of Q1 2024 (from $80M underwritten offering + $20M concurrent prefunded warrants private placement in March)
- Q1 2024 revenue: $1.9M (consistent with prior two quarters); includes research funding offset/contra R&D: $800k contra R&D in the quarter related to FT825 reimbursable expenses
- R&D expense: $32.1M (essentially flat vs Q4 2023)
- G&A expense: $20.9M, up 16% sequentially (legal-related fees cited)
- Total operating expenses: $53M, up 7% vs Q4 2023; includes $11M noncash share-based compensation
- Net loss: $48M, or $0.47/share
- Nonoperating loss: $1.4M noncash loss from change in fair value (contingent MSK milestone payments)
- MSK contingent milestone payments: up to 2 additional payments possible; potential range $100–$150/share; currently valued at $2.7M on a quarterly basis
- Full-year GAAP operating expense guidance (incl. noncash items): between $215M and $230M; expected to end 2024 with >$270M cash/cash equivalents/investments
Capital Funding
- $80M underwritten common stock offering (net proceeds referenced)
- $20M concurrent private placement of prefunded warrants (in March)
- Cash runway referenced: operating runway into 2H 2026 (per prepared remarks)
Strategy & Ops
- FT819 autoimmunity Phase I: amend protocol in 2Q24 to enable FT819 administration with single-agent Cytoxan (no fludarabine) at rheumatologist dosing level (dose and schedule referenced as same as standard practice)
- FT819 autoimmune conditioning alternatives in current study: (1) cy/flu 3-day cycle—cyclophosphamide 500 mg/m^2/day x3 and fludarabine 30 mg/m^2/day x3; (2) bendamustine-based 2-day regimen; planned addition of (3) single-agent Cytoxan
- FT819 future focus: management intends to focus all further clinical development of FT819 exclusively in autoimmunity
- FT522 conditioning strategy: conditioning arm safety completed for first 3 patients; dose escalation ongoing to 900M cells/dose; no-conditioning arm enrollment initiated at 300M cells/dose
- FT825: Ono collaboration—solid tumor approach uses multiplex engineered iPSC-derived CAR-T with CXCR2, chimeric TGF-beta receptor, non-cleavable CD16A, and HER2-targeted antigen-binding domain
Market Outlook
- FT819 (SLE): guided update on first 3 to 5 patients by end of 2024
- FT819 (autoimmunity): protocol amendment planned for 2Q24 to add single-agent Cytoxan; management expects initial patient clinical data after amendment
- FT522 (B-cell lymphoma): guided readout of first 5 no-conditioning patients in Phase I
- FT522 (autoimmunity): IND submission expected mid-2024; initiate Phase I multi-indication study subject to IND allowance
- FT825 (solid tumors): guided readout of first 3 to 5 patients in Phase I by 2H 2024
Risks & Headwinds
- Autoimmunity treatment barrier: management repeatedly highlighted that cy/flu conditioning may not be well accepted by autoimmunity patients/field; safety is a premium and may limit uptake
- Competitive headwind: T-cell engager therapies (e.g., blinatumomab/CD19 engagers) could be disruptive in autoimmunity; management stated they are approaching the space 'eyes wide open' and plan to compete on target product profile directly head-to-head
- Efficacy vs safety tradeoff in autoimmunity: management acknowledged efficacy is important but safety will be prioritized; potential 'cost on efficacy' acknowledged by competitive framing (investor question) and management emphasized off-the-shelf + safety rationale
- Clinical execution risk: autoimmunity FT819 study was noted by an analyst as having 'a bit slow to get off' (momentum expected after site activation)
Sentiment: MIXED
Note: This summary was synthesized by AI from the FATE Q1 2024 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.