Fate Therapeutics, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 02:31 am IST
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Fate Therapeutics, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net loss was USD 44.12 million compared to USD 56.36 million a year ago. Basic loss per share from continuing operations was USD 0.45 compared to USD 0.58 a year ago.
For the full year, the company reported net loss was USD 160.93 million compared to USD 281.72 million a year ago. Basic loss per share from continuing operations was USD 1.64 compared to USD 2.91 a year ago. Diluted loss per share from continuing operations was USD 1.64 compared to USD 2.91 a year ago.
Fate Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is dedicated to bringing a pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune disorders. Its proprietary induced pluripotent stem cells (iPSC) product platform combines multiplexed-engineering of human iPSCs with single-cell selection to create clonal master iPSC lines. The Companyâs platform is designed to overcome numerous limitations associated with the manufacture of cell therapies using patient- or donor-sourced cells. Utilizing its proprietary iPSC product platform, it is advancing off-the-shelf, multiplexed-engineered natural killer (NK) cell and T-cell product candidates which are selectively designed, incorporate novel synthetic controls of cell function. Its pipeline of iPSC-derived, chimeric antigen receptor (CAR)-targeted NK cell and T-cell product candidates include FT819, FT522, FT576, FT825, FT819, FT522, and others.