Fate Therapeutics, Inc

Fate Therapeutics is a clinical-stage biopharmaceutical company developing off-the-shelf cellular immunotherapies built from human induced pluripotent stem cells (iPSCs). Its core business is to engineer renewable master cell lines and turn them into uniform T-cell and NK-cell product candidates designed for oncology and autoimmune diseases.

−2 028,3 %

−2 051,1 %

−51,2 %

5.79

5.79

— Fate Therapeutics, Inc
%
Cell therapy product candidates0% Clinical and preclinical off-the-shelf iPSC-derived cell therapies for cancer and autoimmune disease.
Collaboration revenue85% Upfront payments, research funding, and milestone-related revenue from strategic partners.
Government grants15% Grant funding supporting preclinical, IND-enabling, and development activities.

Fate does not yet sell approved therapies commercially; its current counterparties are pharmaceutical partners, grant...

  • Strategic collaboration partnersprimary

    Biopharma companies that pay for joint development, access to IP, and milestone-based progress on product candidates.

  • Government and research grant agenciessecondary

    Public funding sources that support preclinical and IND-enabling work for selected programs.

  • Clinical investigators and trial sitesprimary

    Hospitals and research centers that enroll patients and generate the clinical data needed for approval.

  • Future specialty physiciansemerging

    Autoimmune and oncology specialists who would prescribe approved cell therapies if commercialized.

  • Future treatment centersemerging

    Hospitals and outpatient centers that would administer off-the-shelf cell therapies after approval.

The company is headquartered in San Diego, California and conducts substantially all of its operations in the United...

  • •Headquartered in San Diego, California
  • •Substantially all operations are conducted in the United States
  • •Clinical development is currently centered in U.S. trial sites
  • •FT819 trials expanded to the U.K. and EU in 2025
  • •Future commercialization could require multi-region regulatory execution

Fate’s strategy is to advance a differentiated iPSC platform into first-in-class or best-in-class off-the-shelf cell...

01
Advance FT819 through clinical and regulatory milestonesshort-term

This program is the clearest path to value creation and potential first commercial approval.

02
Expand ex-U.S. clinical developmentmedium-term

Broader trial geography can speed enrollment, diversify regulatory pathways, and support global commercialization.

03
Preserve cash and secure non-dilutive fundingshort-term

As a clinical-stage company with no product revenue, financing access is essential to sustain development.

The company faces the typical clinical-stage biotech risks of trial failure, regulatory delay, and uncertain market...

high

Clinical development failure or delay

The company has no approved products, so setbacks in trials can eliminate or postpone future revenue.

Scope
FT819 and other pipeline programs
Materiality
high
high

Manufacturing and regulatory complexity

iPSC-derived cell therapies require tightly controlled GMP processes and may face additional FDA requirements.

Scope
Internal GMP production and clinical supply
Materiality
high
high

Market acceptance and reimbursement uncertainty

Autoimmune patients may be reluctant to accept cell-therapy risk without strong evidence and coverage support.

Scope
Future commercialization in autoimmune disease
Materiality
high
high

Financing and dilution risk

The company expects meaningful revenue only after approval and must fund operations externally.

Scope
Operating runway and pipeline continuity
Materiality
high
medium

Dependence on combination-drug access

Some programs require monoclonal antibodies or other biologics that must be available on acceptable terms.

Scope
Clinical trials and future commercial use
Materiality
medium
Collaboration revenue recognition
Can create lumpy quarterly revenue and affect comparability
Fair value of milestone liabilities
Changes can affect operating expenses or liabilities
Stock-based compensation
Affects operating loss and non-cash expense trends
Lease accounting
Affects balance sheet leverage and operating expense presentation
Estimated collaboration costs
Can alter accrued expenses and period expense recognition

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: 28/04/2026