Fate Therapeutics Q3 net loss narrows as expenses fall
FATE•Fate Therapeutics’ third-quarter net loss narrowed to $30.7 million from $32.3 million a year earlier as operating expenses fell. The company ended the quarter with $139.1 million in cash and investments and expects its cash runway to extend to mid-2028 with CIRM grant support.
1. Quarterly results
Fate Therapeutics reported a third-quarter net loss of $30.69 million, compared with $32.3 million a year earlier. Operating expenses were $32.25 million, with the company attributing the year-over-year decline to lower research and development and general and administrative costs.
2. Cash and clinical trials
The company ended the quarter with $139.1 million in cash and investments and expects its cash runway to extend to mid-2028 with support from a $15 million CIRM grant. Enrollment continues in the Phase 2 RECLAIM-LN trial in lupus nephritis, and the company expects to dose patients in the COMPLETE trial for FT839 by year-end.
