FATE Stock Price Moving on New Phase 1 Data

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Just days ago, the company announced encouraging Interim Phase 1 Data for iPSC-derived NK cell programs in relapsed / refractory acute myeloid leukemia.

“We are highly encouraged by these Phase 1 data in patients with relapsed / refractory AML, which clearly indicate that off-the-shelf, iPSC-derived NK cells administered as monotherapy in the outpatient setting were well-tolerated, and have the potential to induce complete leukemic blast clearance in the bone marrow and confer durable remissions without further therapeutic intervention,” said Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics.

“Complete leukemic blast clearance in the bone marrow is essential as recent studies in relapsed / refractory AML have shown that this clinical outcome results in a statistically-significant improvement in patient survival. Additionally, we are excited that a patient receiving FT538 in the initial dose escalation cohort achieved a complete remission with incomplete hematologic recovery, and that FT538 continued to be detected in the peripheral blood at Day 8 post-infusion.”

Better, the company saw no dose-limiting toxicities, or any cases of cytokine release syndrome, immune effector cell associated neuro-toxicity, or graft-versus-host disease.

Further progress could lead to higher highs for Fate Therapeutics.

In addition, the company reported a quarterly loss of 48 cents for Q1 2021, which was wider than a year-earlier loss of 44 cents. Fate also posted revenues of $11 million for the quarter, beating year-earlier revenue of $2.5 million. The company also hold $888.4 million in cash.

At the time of this writing, Ian Cooper did not hold a position in Fate Therapeutics stock.

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