Fate Therapeutics Inc FATE:NASDAQ

Last Price$18.44NASDAQ Closing Price as of 3:59PM ET 5/20/19
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Today's Change-0.30(1.60%)
Bid (Size)$18.30 (10)
Ask (Size)$19.99 (1)
Day Low / High$18.29 - 19.05
Volume561.9 K

Fate Therapeutics Wins FDA Clearance of IND Application for FT516; Shares Jump Pre-Bell

9:30AM ET 2/06/2019 MT Newswires
Fate Therapeutics (FATE), a clinical-stage biopharmaceutical company, said pre-market Wednesday that the FDA has allowed its "investigational new drug" (IND) application for FT516, the company's off-the-shelf "natural killer" (NK) cell product candidate

The company said in a statement that it will start clinical testing of FT516 in patients with certain relapsed/refractory hematologic malignancies.

"This allowance by the FDA of our FT516 IND application is a watershed event in the clinical development of engineered cell therapies," Fate CEO said in the statement.

The initial clinical study of FT516 is intended to assess the safety and tolerability of three weekly doses for the treatment of certain relapsed/refractory hematologic malignancies.

Shares jumped more than 6% in pre-market trading on Wednesday.

Price: 14.69, Change: +0.84, Percent Change: +6.06