Wedbush reiterated its Outperform rating on Fate Therapeutics Inc FATE, saying the company is executing well on advancing its early stage cell therapy pipeline into patients, with significant data catalysts expected later this year.
The comments came after Fate announced earlier this week the clearance by FDA of an IND for NK100 and the near-term start of an open-label Ph 1 study in lymphodepleted adult r/r AML patients at the University of Minnesota (UMN) following IRB approval.
“IND cleared for NK100, expecting Ph 1 study in advanced AML to begin shortly; we expect to see superior results compared to past NK-based therapeutic efforts,” analyst David Nierengarten wrote in a note.
Other catalysts are studies of NK100 in solid tumors and combination studies with approved mAbs set to start later this year and the recently announced iPSC-derived NK cell candidate could be advanced to clinic in next 12 months. In addition, the company’s lead ProTmune program on track to enter Ph 2 by mid-year.
Shares of Fate Therapeutics closed Thursday at $4.64. The analyst has a price target of $7.
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