FATE - Fate Therapeutics hits 52-week low after preclinical data on leukemia treatment

• Fate Therapeutics ( NASDAQ: FATE ) reached a 52-week low on Monday after announcing preclinical data with its partner GT Biopharma ( NASDAQ: GTBP ) to highlight the potential of a new therapeutic approach to treat acute myeloid leukemia (AML).
• The data, as presented at the ongoing American Society of Hematology (ASH) Annual Meeting, indicates how to combine GT Biopharma’s ( GTBP ) Tri-specific Killer Engager (TriKE) with Fate’s ( FATE ) induced pluripotent stem cell (iPSC) product platform to treat AML .
• The preclinical data show that dual-antigen targeting strategies combining the two mechanisms “are a promising approach to address the clinical heterogeneity of AML and enhance outcomes for patients with advanced disease,” Jeffrey Miller consulting science chief of GT ( GTBP ), said.
• In July 2021, GT ( GTBP ) announced a sponsored research agreement worth more than $2M with Miller.
• Wall Street has remained bullish on Fate ( FATE ) stock, with an average rating of Strong Buy from analysts while Seeking Alpha Authors indicated a Buy rating. However, SA’s Quant System, which consistently beats the market , rated FATE as a Hold.

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