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Fate Therapeutics reported its first quarter 2024 financial results and business updates, highlighting progress in clinical areas, including treating the first lupus patient with FT819 CAR T-cell therapy, initiating enrollment for FT522 CAR NK cell therapy, and treating the first patient with FT825 CAR T-cell therapy. The company has $391 million in cash, cash equivalents, and investments. The financial results include $1.9 million in revenue, $53.0 million in operating expenses, and total outstanding shares of 113.8 million.
Fate Therapeutics announced the treatment of the first lupus patient in the Phase 1 autoimmunity study of FT819 CAR T-cell program. The patient showed rapid and potent depletion of CD19+ B cells. The company also presented translational data from the Phase 1 study of FT819 in B-cell malignancies and initial clinical observations from the FT522 CAR NK cell program in B-cell lymphoma. These programs highlight key therapeutic mechanisms for autoimmune diseases.
Fate Therapeutics, Inc. will report its first quarter 2024 financial results and operational updates during a conference call on May 9, 2024. The company focuses on iPSC-derived cellular immunotherapies for cancer and autoimmune diseases, with programs like FT819 and FT522. The event coincides with the American Society of Gene and Cell Therapy 27th Annual Meeting.
Fate Therapeutics announced preclinical data for its FT522 program for autoimmune diseases at the ASGCT Annual Meeting. FT522, a CD19-targeted CAR NK cell product candidate, showed promising results in depleting SLE donor B cells and eliminating host immune cells. The ADR technology incorporated into FT522 enhances its potency, potentially offering a new treatment approach for autoimmune diseases.