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CAR-NK pioneer: Fate shares plunged 48%, terminating its partnership with Johnson & Johnson

 Last Update: 2023-02-03
 Source: Internet
 Author: User

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On January 5, 2023, Fate Therapeutics announced the termination
of its partnership with Johnson & Johnson.
At the end of 2022, Fate had $475 million in cash
on her books.

At the same time, Fate also adjusted its R&D pipeline, focusing on the development of the second-generation CD19 CAR-NK therapy and terminating the development of FT596 projects
.

Affected by this news, Fate Therapeutics shares fell 48% after hours, leaving a market value of only $600 million
.

Regarding the reasons for terminating the cooperation, Fate explained that "it was impossible to agree on the continuation of the cooperation"
.

Fate is a pioneer in the iPSC CAR-NK field, with a market capitalization of $4 billion
at one point.

Fate has established a complete technology platform
.

Fate has established a rich research and development platform, but still focuses on hematological tumors, and CAR-NK still has no substantial breakthrough
in solid tumors.

summary

Although the clinical popularity of CAR-NK has not decreased, it is still expected to have a major breakthrough in efficacy
.
The termination of the cooperation with Johnson & Johnson has once again hit the market's confidence
in the CAR-NK track.
However, the fundamental advantages such as good safety and allogeneic CAR-NK are still there, and clinical exploration is still worth pursuing
.

Over the past year, many pioneers in new forms of drugs have suffered major setbacks, including Rubius for red blood cell therapy, Carisma for CAR-M, Silverback for ISAC, Instil for TIL therapy, and more
.
Expect CAR-NK to get out of the trough
.

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