Fate Therapeutics Inc (NASDAQ: FATE) is off to an overwhelmingly strong start to the trading session today, and for good reason. The company released a business update that seems to be exciting investors. Of course, investor excitement is leading to gains, prompting our friends at Trade Ideas to alert us to the movement. At the moment (9:36), FATE is trading at $3.27 per share after a gain of $0.18 per share or 5.83% thus far today.
FATE Gains On Business Update
As mentioned above, Fate Therapeutics is having an overwhelmingly strong start to the trading session today after announcing a business update. Here are the key points from the update…
- VOYAGE – FATE said that the first subject has been treated with FATE-NK100 in the VOYAGE clinical study designed to assess the treatment for the Acute Myelogenous Leukemia indication.
- FDA Clears NDA – The company also said that the United States Food and Drug Administration has cleared the Investigational New Drug Applications for FATE-NK100 in recurrent Ovarian Cancer and in Advanced Solid Tumors with Monoclonal Antibody Therapy.
- PROTECT – Finally, FATE said that the PROTECT Data Monitoring Committee for ProTmune (TM) Phase 1 review is being convened following the treatment of the first 6 patients.
In a statement, Scott Wolchko, President and CEO at Fate Therapeutics, had the following to offer…
“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…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.”
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on FATE. In particular, we’re interested in following the company through its ongoing work surrounding various immunotherapies for the treatment of various cancers and solid tumors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!