A Data-Rich Year Has Analysts Accepting Their Fate Therapeutics Trade

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.

Related:

Carl Icahn's Track Record In Big Pharma

Bill Ackman Is Out Of Valeant

Posted In: David NierengartenWedbushAnalyst ColorPrice TargetReiterationAnalyst Ratings

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.