Fate Therapeutics, Inc. | $FATE Stock | Shares Rise as Company Beats Earnings Expectations


Fate Therapeutics, Inc. (NASDAQ: FATE)


Fate Therapeutics, Inc. (FATE), a clinical-stage biopharmaceutical company yesterday reported their second quarter 2017 financial results.

Fate reported second quarter earnings of a loss of  $0.23 per share which beat analyst expectations of a loss of $0.24 per share with revenues coming in at $1 million.   

Fate Therapeutics, Inc. CEO’s  Comments

“Clinical momentum across our first-in-class cellular immunotherapy programs continues to accelerate. The first subject was treated with FATE-NK100 in VOYAGE for AML, and we look forward to opening two additional clinical trials of FATE-NK100 for the treatment of multiple advanced solid tumor types including in combination with monoclonal antibody therapy,” said Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics. “Our productive discussions with the FDA continue regarding the advancement of our proprietary iPSC-derived cancer immunotherapy pipeline toward first-in-human studies. We currently remain on-track to file, in the first quarter of 2018, an investigational new drug application with the FDA for FT500i, a first-of-kind natural killer cell product candidate derived from a master pluripotent cell line. We are also prepared to initiate enrollment in the Phase 2 efficacy stage of PROTECT next month. Six subjects received ProTmune and we have convened the study’s data monitoring committee to review the Phase 1 data.”  Globe Newswire

FATE Technical Analysis

Fate Therapeutics

FATE opened trading yesterday at $3.05 which was up from the previous day’s trading close of $2.98. FATE closed trading yesterday at $3.09 and spiked up after market to $3.59, equivalent to a 16% increase from the closing price. Taking a look at the daily chart we can see the last time FATE traded above these levels we have to go back to May 24th when it traded at $3.60.

Taking a closer look at the daily chart we can see that before the spike up FATE had been in an overall downward trend dating back to May 2nd when it traded at $4.73. FATE has a float of 30.3 million shares and traded 1.15 times the normal daily trading volume on Monday.

For day trading purposes, I would like to see FATE open trading on Tuesday above $3.45 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.10 from my entry position fearing anything more than that and the stock would start to fill in the gap up.

Company Profile

Fate Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide.

Its immuno-oncology product candidates include FATE-NK100, a natural killer (NK) cell cancer immunotherapy that consists of adaptive memory NK cells; engineered hnCD16 induced pluripotent stem cells (iPSC)-derived natural killer cell therapy candidates for hematologic/solid tumors; and engineered chimeric antigen receptor iPSC-derived T cell therapy product candidates for hematologic/solid tumors.

The company’s immuno-regulation product candidates comprise ProTmune, an investigational programmed cellular immunotherapy for use as a next-generation allogeneic hematopoietic cell transplantation cell graft; and ToleraCyte for the treatment of autoimmune and inflammatory diseases; engineered iPSC-derived CD34+ cell therapy for immune disorders.

Fate Therapeutics, Inc. has a research collaboration and license agreement with Memorial Sloan Kettering Cancer Center to develop off-the-shelf T-cell immunotherapies; and strategic research collaboration and license agreement with Juno Therapeutics, Inc. to identify small molecule modulators that enhance the function of T cells.

Fate Therapeutics, Inc. was founded in 2007 and is headquartered in San Diego, California.  Yahoo Finance

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