Business
Fate Therapeutics Reports Fourth Quarter and Full Year 2022 Financial Results and Business Updates
Ended 2022 with Approximately $475 Million in Cash, Cash Equivalents, and Receivables Multi-dose Treatment Cohorts Initiated in FT576 Phase 1 Study for
About this update from Fate Therapeutics, Inc.
[{"type":"text","content":"Ended 2022 with Approximately $475 Million in Cash, Cash Equivalents, and Receivables Multi-dose Treatment Cohorts Initiated in FT576 Phase 1 Study for Multiple Myeloma; Interim Clinical Data from Single-dose Cohorts Showed Objective Responses and Selective Depletion of Activated Host Immune Cells Mid-2023 IND Submission Planned for FT522 NK Cell Program in B-cell Lymphoma; Intent to Expand Clinical Investigation to include Severe Autoimmune Disorders FT819 Phase 1 Study of First-ever iPSC-derived CAR T-cell Therapy Ongoing; Interim Clinical Data Showed Favorable Safety Profile and Complete Responses in Large B-cell Lymphoma IND Submission for FT825/ONO-8250 CAR T-cell Product Candidate for Solid Tumors Planned for 2023 under Ono Collaboration SAN DIEGO, Feb. 28, 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 fourth quarter and full year ended December 31, 2022. “We have focused our operations on advancing our most innovative and differentiated programs for patients with cancer and autoimmune disorders, and we have substantially reduced our expenses with the intent of providing the necessary cash runway to achieve key clinical milestones across our multiplexed-engineered, iPSC-derived CAR NK and CAR T-cell product candidates,” said Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics. “We are now enrolling multi-dose treatment cohorts with FT576 for multiple myeloma, including in combination with CD38-targeted monoclonal antibody therapy to promote dual-antigen targeting and selective depletion of activated host immune cells. We also plan to submit an IND application in the middle of 2023 for FT522, which incorporates our proprietary ADR technology designed to enable patient dosing with reduced conditioning chemotherapy, and intend to initiate clinical development in B-cell lymphoma with plans to expand clinical investigation to severe autoimmune disorders. In addition, we are excited with the progress of our iPSC-derived CAR T-cell pipeline for the treatment of hematologic malignancies and solid tumors. Dose escalat...