Fate Therapeutics (FATE) has become one of the most explosive stocks on the market.
Since early Dec. 2020, the FATE stock price ran from a low of $60 to a high of $118.79 good for a return of nearly 100%. The move comes just weeks after it reported favorable Phase 1 study results of FT516 in combination with rituximab for patients with relapsed / refractory B-cell lymphoma.
“We are highly encouraged by these Phase 1 data, which clearly demonstrate that off-the-shelf, iPSC-derived NK cells can drive complete responses for cancer patients and that our proprietary hnCD16 Fc receptor can effectively synergize with and enhance the mechanism of action of tumor-targeted antibodies,” said Scott Wolchko, President and CEO of Fate Therapeutics, as quoted in the company’s press release.
It’s also running higher on the gene editing bull market.
In fact, with gene editing show progress in identifying and potentially curing diseases, Ark Investment Management CEO Cathie Wood said, “I would have to say the biggest upside surprises are going to come from the genomic space. That’s because the convergence of DNA editing, artificial intelligence, and gene therapies, importantly CRISPR gene editing, is going to cure disease,” as quoted by The Motley Fool.
Even more impressive, according to Interesting Engineering:
“Gene editing tools like CRISPR could give scientists the keys to the DNA kingdom, allowing us to find “molecular mistakes” and remove them. According to Nicola Patron, a molecular biologist at the Earlham Institute, “We are getting to a point where we can investigate different combinations of genes, control when, where, and how much they are expressed, and investigate the roles of individual bases of DNA. Understanding what DNA sequences do is what enables us to solve problems in every field of biology from curing human diseases, to growing enough healthy food, to discovering and making new medicines, to understand why some species are going extinct.”
Ian Cooper’s Personal Position in FATE: None
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