Since April 2020, FATE stock rocketed from a low of $19.92 to $35.23, as it moves progresses with cellular immunotherapies for cancer and immune disorders.
Just days ago, FATE announced the U.S. FDA cleared its investigational new drug (IND) application for FT538, the first CRISPR-edited iPSC-derived cell therapy. FT538 is an off the shelf natural killer (NK) cell immunotherapy.
“We are very pleased to expand the clinical application of our proprietary iPSC product platform to multiple myeloma, where rates of relapse remain high,” said Scott Wolchko, President and Chief Executive Officer of FATE.
FATE stock is up 16% on the announcement.
“Clinical data suggest that deficiencies in NK cell-mediated immunity, which are evident even at the earliest stages of myeloma, continue to accumulate through disease progression. We believe administration of FT538 to patients can restore innate immunity, and that the anti-cancer effect of certain standard of care treatments, such as monoclonal antibodies, can be more effective when combined with the engineered functionality of FT538,” he added.
FATE Reports Sizable Progress in Trials
“We have continued to enroll patients across our three Phase 1 clinical programs, expanded the clinical footprint of our FT596 program into relapse prevention following autologous HSCT, and submitted our IND application to the FDA for FT538, the first-ever CRISPR-edited, iPSC-derived cell therapy, in multiple myeloma,” added Wolchko.
“Additionally, we entered into a transformative collaboration with Janssen that leverages our iPSC product platform and Janssen’s proprietary tumor-targeting antigen binders to develop novel CAR NK and CAR T-Cell product candidates for hematologic malignancies and solid tumors, supporting our fundamental goal of bringing off-the-shelf, iPSC-derived cell-based cancer immunotherapies to patients.”
FATE Lands Major Partner
Just the other week, it secured a $3 billion deal with Janssen Biotech, Inc, one of the Janssen Pharmaceutical Companies of Johnson & Johnson to develop four cancer treatments. (Full story here.)
These treatments belong to a class known as immuno-oncology drugs, which help teach the immune system how to identify hidden cancer cells. Not only does this deal now validate Fate Therapeutics technology, notes Investor’s Business Daily, it removes cash flow concerns, and now adds another four potential cancer treatments for the company.
Ian Cooper’s Personal Position in FATE: None
5G, Streaming TV, Internet-of-things, Artificial Intelligence, Automation will skyrocket once we're beyond this pandemic and economies around the world begin to recover. Here are 10 must-own the stocks to buy now before the real recovery starts.
Pandemic, stock market crash, economic recession, social unrest, geopolitical confrontation... 2020 will go down in history as a year of upheaval.
But it could also turn out to be the most important year for technology investors.
- 5G is rolling out around the world
- new streaming TV options are going live almost monthly and are proving extremely popular with so many people in lockdown
- 26 billion internet-of-things devices will be connected by the end of 2020
- 'everything will be touched by AI' this year according to Forbes
- automation is already taking jobs and will likely take more with new 'social distancing' norms
This new report reveals exactly which stocks should take off to ride the recovery boom.