Logo

FATE

Fate Therapeutics, Inc.

FATE

Fate Therapeutics, Inc. • NASDAQ
$1.14 ▲ 3.64% (+0.04)
Market Cap $131.47 M
52w High $3.39
52w Low $0.66
Dividend Yield 0%
P/E -0.86
Volume 577.83K
Outstanding Shares 115.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.741M ▼ $36.476M ▼ $-32.25M ▲ -1.852K% ▼ $-0.27 ▲ $-29.023M ▲
Q2-2025 $1.907M ▲ $38.875M ▼ $-34.07M ▲ -1.787K% ▲ $-0.29 ▲ $-30.792M ▲
Q1-2025 $1.629M ▼ $42.909M ▼ $-37.621M ▲ -2.309K% ▲ $-0.32 ▲ $-37.947M ▲
Q4-2024 $1.86M ▼ $63.608M ▲ $-52.153M ▼ -2.804K% ▼ $-0.44 ▼ $-42.198M ▲
Q3-2024 $3.074M $55.451M $-47.678M -1.551K% $-0.4 $-47.77M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $215.423M ▼ $343.671M ▼ $109.605M ▼ $234.066M ▼
Q2-2025 $222.83M ▼ $371.632M ▼ $110.268M ▲ $261.364M ▼
Q1-2025 $240.425M ▼ $398.67M ▼ $110.261M ▼ $288.409M ▼
Q4-2024 $279.068M ▼ $440.694M ▼ $121.968M ▼ $318.726M ▼
Q3-2024 $296.923M $494.97M $132.644M $362.326M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-32.25M ▲ $-24.374M ▲ $21.272M ▲ $2.475M ▲ $-627K ▲ $-26.577M ▼
Q2-2025 $-34.07M ▲ $-24.587M ▲ $19.591M ▼ $1.325M ▲ $-3.671M ▼ $-25.949M ▲
Q1-2025 $-37.621M ▲ $-33.809M ▼ $42.673M ▲ $0 ▼ $8.864M ▲ $-35.005M ▼
Q4-2024 $-52.153M ▼ $-27.799M ▲ $22.816M ▼ $3.13M ▲ $-1.853M ▼ $-27.897M ▲
Q3-2024 $-47.678M $-29.419M $25.461M $0 $992K $-29.914M

Revenue by Products

Product Q1-2023Q2-2023Q3-2023Q4-2023
Upfront Fee And Equity Premium
Upfront Fee And Equity Premium
 $30.00M ▲$30.00M ▲$30.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Fate is still very much a research-stage company. It generates only token revenue, mainly from collaborations in the past, with almost no commercial sales. Operating costs, especially research and development, drive sizable losses every year. Those losses swelled a few years ago and have since narrowed a bit, suggesting some cost discipline or portfolio refocusing, but the business is still firmly in the “spend now for potential future payoff” phase. Earnings per share remain solidly negative, consistent with a company funding long, high-risk development programs rather than selling products.

Balance Sheet

Balance Sheet The balance sheet shows a company that once built up a strong asset and cash base and has been drawing that down over time to fund its pipeline. Total assets and shareholders’ equity have declined from earlier peaks but remain positive, which means Fate still has a financial cushion. Debt levels are modest and fairly stable, so the company is not heavily leveraged and does not appear burdened by interest obligations. The main watchpoint is the shrinking cash balance relative to ongoing losses: solvency looks comfortable for now, but long-term health depends on continued access to capital and progress in the pipeline.

Cash Flow

Cash Flow Cash flow patterns are exactly what you would expect for a clinical-stage biotech. The company consistently spends more cash than it brings in, with operating cash outflows driven by trials, staff, and manufacturing investments. Cash burn was heaviest a few years ago and has eased somewhat, but it is still meaningful. Capital spending on equipment and facilities is relatively small, so free cash flow closely mirrors the operating cash burn. In practice, this means Fate relies on past or future financing and partnerships to sustain its programs until any therapy reaches the market.

Competitive Edge

Competitive Edge Fate occupies a differentiated niche in cell therapy, focusing on off-the-shelf products built from induced pluripotent stem cells. This approach offers potential advantages in consistency, speed of treatment, and manufacturing cost compared with patient-specific therapies. The company has built a sizable patent portfolio and its own manufacturing capabilities, which together create barriers for would-be competitors. It has also attracted industry partners and academic collaborators, adding credibility. At the same time, it operates in a crowded, rapidly evolving field where large pharmaceutical companies and other biotechs are racing to similar goals. Without any approved products yet, its competitive strength is mostly technological and clinical-stage rather than commercial.

Innovation and R&D

Innovation and R&D Innovation is the core of Fate’s story. The company’s iPSC platform is designed to produce uniform, engineered NK and T cells at scale, and it is being applied across multiple product candidates in cancer and autoimmune disease. Programs like FT819 and the newer solid-tumor and NK-cell candidates illustrate how Fate is trying to turn a single platform into a broad pipeline. The firm spends heavily on R&D, which explains its persistent losses but also underpins its potential future value. Early clinical results and special regulatory designations are encouraging signals, yet every program still faces high scientific, clinical, and regulatory uncertainty typical of cutting-edge biotech research.

Summary

Overall, Fate Therapeutics looks like a classic high-risk, high-innovation biotech. Financially, it has minimal revenue, sizable recurring losses, and steady cash burn, funded by a balance sheet that remains sound but has been gradually drawn down. Strategically, the company has built a distinctive platform in off-the-shelf cell therapy, backed by substantial intellectual property, in-house manufacturing, and a growing clinical pipeline across cancer and autoimmune diseases. The key questions ahead are execution and timing: whether the company can turn its scientific edge into convincing late-stage data and, eventually, commercial products before financial flexibility tightens. As with most early- to mid-stage biotechs, the upside is tied tightly to clinical and regulatory milestones, and the risks remain significant until those are achieved.

NEWS

November 25, 2025 · 8:00 AM UTC

Fate Therapeutics to Present at Piper Sandler 37th Annual Healthcare Conference

Read more

November 13, 2025 · 8:30 AM UTC

Fate Therapeutics Reports Third Quarter 2025 Financial Results and Business Updates

Read more

November 4, 2025 · 4:01 PM UTC

Fate Therapeutics Reports New Employee Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)

Read more

October 26, 2025 · 11:30 AM UTC

Fate Therapeutics Presents New Clinical Data at ACR Convergence 2025 Demonstrating Immune Remodeling and Durable Responses in Patients with Systemic Lupus Erythematosus Treated with FT819 Off-the-Shelf CAR T-Cell Therapy

Read more

October 2, 2025 · 4:01 PM UTC

Fate Therapeutics Reports New Employee Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)

Read more