Fate Therapeutics Inc · Q4 2021 earnings

Briefing

Reported business highlights and financial results.

Fate Therapeutics reported fourth quarter and full year 2021 financial results. The company's cash, cash equivalents and investments as of December 31, 2021 were $716.6 million. Revenue was $17.1 million for the fourth quarter of 2021.

• Enrollment Ongoing in Multi-dose, Multi-cycle Escalation Cohort of FT596+R at 900 Million Cells per Dose for R/R BCL
• Granted RMAT Designation for FT516 in R/R DLBCL; Enrollment Ongoing in Multi-dose, Multi-cycle Expansion Cohorts at 900 Million Cells per Dose in Disease-specific Indications, including Aggressive BCL in Patients Previously Treated with Autologous CD19-targeted CAR T-cell Therapy
• Initial FT819 Dose-Escalation Cohort Cleared with No DLTs for R/R BCL in Landmark Phase 1 Study of Off-the-shelf, iPSC-derived CAR T-cell Therapy
• Preclinical Milestone Reached for Second Product Candidate under Janssen Collaboration

Headline financials

Revenue & EPS history

For the full year ending December 31, 2022, the Company expects its GAAP Loss from Operations to be between $335 million to $365 million, which loss includes stock-based compensation expense, and its cash use to be between $290 million to $315 million, which use excludes any amounts that may be received under its collaborations with Janssen and Ono in connection with the achievement of development milestones. The Company expects its cash, cash equivalents, and investments to exceed $400 million at year-end 2022.