Fate Therapeutics Q1 revenue $59M via Janssen termination; cuts workforce, runway to 2H25

FATE THERAPEUTICS INC

2023-Q1 EPS reported -$0.19 revenue$58,980,000

Q1 GAAP operating expenses $87.6M including $12.9M severance; revenue includes $52.3M from Janssen termination.
Cash, cash equivalents & investments $412.8M; with $13.5M receivables, expects >$300M at year-end 2023.
Discontinued Janssen collaboration, withdrew IND; terminated NK programs FT516, FT596, FT538, FT536.
Workforce reduced to ~220 employees; 2023 GAAP op-ex guidance $265M-$285M.
FT576 enrolling multi-dose cohorts; FT522 IND submitted; FT819 advancing; HER2 IND planned 2H23.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FATE THERAPEUTICS INC reported financial results for first quarter ended March 31, 2023.

Period: first quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 3, 2023, Fate Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2023.

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FATE THERAPEUTICS INC filing history →

Source: SEC EDGAR

accession 0000950170-23-017157

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