Fate Therapeutics Q1 revenue $1.9M; $391M cash; advances FT819 in SLE, halts FT576 expansion

FATE THERAPEUTICS INC

2024-Q1 EPS reported -$0.47 revenue$1,925,000

Cash, equivalents & investments: $391.1M as of March 31, 2024, including ~$80M offering and ~$20M private placement.
Q1 revenue $1.9M (collaboration with Ono); GAAP operating expenses $53.0M (R&D $32.1M, G&A $20.9M, incl $11M stock comp).
First SLE patient treated with FT819 CAR T; dose escalation completed in BCM; FT819 development to focus exclusively on autoimmunity.
FT522 enrollment opened without conditioning chemotherapy in Phase 1 BCL; IND for autoimmunity planned mid-2024.
FT576 dose escalation completed in multiple myeloma; company will not advance to Phase 1 dose expansion; evaluating next-gen BCMA candidates.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FATE THERAPEUTICS INC reported financial results for the first quarter ended March 31, 2024.

Period: the first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

Fate Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-056852

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