Fate Therapeutics, Inc. (FATE)
NASDAQHealth CareBiotechnologySnapshot 2026-09-04
$2.48+2.48%
Close 2026-09-04 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-09-04
QuarterlyIQ Insights · FATE
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Progress the FT819 off-the-shelf CAR T-cell therapy through Phase 2 registrational trial in lupus nephritis and ongoing Phase 1 trials in autoimmune diseases.
Stated as a priority in 2 of last 2 quarters. Management reported dosing the first patient in the Phase 2 RECLAIM-LN trial of FT819 in 2026-Q2 and ongoing Phase 1 enrollment with 21 SLE patients treated as of 2026-Q2. The trial aims to enroll approximately 53 patients. This reflects delivering progress consistent with management's stated clinical development plans.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 51% of the time over the next year (vs 41% for the rest of the cohort, n=13363).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“First lupus nephritis patient dosed in RECLAIM-LN Phase 2 trial of FT819; multiple clinical sites activated.”
“RECLAIM-LN Phase 2 trial of FT819 on schedule to initiate in second half of 2026; ongoing Phase 1 enrollment in autoimmune diseases.”
Extend cash runway into 2028 by improving expense structure and managing cash burn, supported by cash, cash equivalents, and investments.
Stated as a priority in 2 of last 2 quarters. Cash, cash equivalents, and investments declined from $174.8 million in 2026-Q1 to $153.8 million in 2026-Q2, with a $21 million quarterly cash decrease. Management reported a $14.3 million year-to-date reduction in operating expenses in 2026 versus 2025. The trajectory shows disciplined expense management supporting runway extension into 2028.
“Operating runway into 2028 driven by improvements to the expense structure and $153.8 million in cash and investments.”
“Operating runway extended into 2028, supported by $174.8 million in cash, cash equivalents, and investments.”
Advance clinical development of FT839 dual-CAR T-cell and FT836 pan-tumor targeting CAR T-cell therapies with novel Sword & Shield technology.
Stated as a priority in 2 of last 2 quarters. Management reported FDA clearance of FT839 IND and initiation of Phase 1/2 basket trial in 2026-Q2. FT836 Phase 1 study enrolled nine patients as of 2026-Q2 with preliminary anti-tumor activity. The development trajectory is consistent with management's stated clinical advancement plans.
“FDA cleared FT839 IND; Phase 1/2 basket trial advancing; FT836 Phase 1 study enrolling with preliminary anti-tumor activity.”
“FT839 IND enabling activities ongoing; FT836 Phase 1 study enrolling patients; clinical updates expected in 2026.”
Maintain collaboration with Ono Pharmaceutical for co-funding preclinical development activities through at least June 2026.
Newly stated in 2025-Q2. Management expected continuation of co-funding from Ono through June 2026. No subsequent quarters restated this priority, and financials show revenue derived from Ono collaboration but no update beyond 2026-Q2. Trajectory is limited progress beyond initial statement.
“The Company expects to continue to receive co-funding from Ono through at least June 2026.”
Ensure financial stability with $174.8 million in cash, cash equivalents, and investments to support operations into 2028.
Over the trailing year it converted 0.83x of net income into operating cash flow.
Not enough signal yet.
Not enough signal to read sensitivity to the broad stock market, real (inflation-adjusted) rates, long-term interest rates, the US dollar, Fed net liquidity (low R² over the window).
7 material management or governance events in the past 24 months, led by executive changes. Historically, Health Care names rated stable grew net income 46% of the time over the next year (vs 53% for the rest of the cohort, n=3872).
Not investment advice. As of 2026-09-04.