Business
Fate Therapeutics Reports First Quarter 2023 Financial Results and Business Updates
Dose Escalation Ongoing in Landmark Phase 1 Study of FT819 CD19-targeted 1XX CAR T-cell Program; Interim Clinical Data Demonstrated Favorable Safety Profile
About this update from Fate Therapeutics, Inc.
[{"type":"text","content":"Dose Escalation Ongoing in Landmark Phase 1 Study of FT819 CD19-targeted 1XX CAR T-cell Program; Interim Clinical Data Demonstrated Favorable Safety Profile and Complete Responses in Aggressive Large B-cell Lymphoma FT576 BCMA-targeted CAR NK Cell Program Accruing Patients in Multi-dose Escalation Cohorts for Multiple Myeloma; Initial Translational Data Support Potential of Combination Regimen to Induce Differentiated Immune Reconstitution Profile and Extend FT576 Functional Persistence Clinical Initiation of FT522 ADR-armed, CD19-targeted CAR NK Cell Program for B-cell Lymphoma Anticipated in 2H23; Preclinical Studies Ongoing to Extend Clinical Reach to Autoimmune Diseases Completed Corporate Restructuring and Strategic Assessment of Pipeline Assets; Ended 1Q23 with $426 Million in Cash, Cash Equivalents, and Receivables Supporting Runway into 2H25 SAN DIEGO, May 03, 2023 (GLOBE NEWSWIRE) -- Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to bringing a first-in-class pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune disorders, today reported business highlights and financial results for the first quarter ended March 31, 2023. “Over the first months of 2023, we have sharpened our clinical focus and significantly reduced our operating expenses, creating the necessary cash runway to achieve key milestones across our multiplexed-engineered CAR NK and CAR T-cell pipeline. We sincerely thank our employees whose patience and perseverance have allowed us to emerge through this transition period with a renewed sense of energy, commitment, and drive to bring first-in-class, iPSC-derived cellular immunotherapies to patients with cancer and autoimmune disorders,” said Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics. “We are now well-positioned to clinically assess higher therapeutic exposures for our FT576 BCMA-targeted CAR NK cell program in multiple myeloma and our FT819 CD19-targeted CAR T-cell program in B-cell malignancies. In addition, we aim to bring our FT522 CD19-targeted CAR NK cell program, which incorporates our proprietary ADR technology designed to enhance NK cell potency, extend functional persistence, and resist host immune cell rejection, into clinical development in the second half ...