FATE - Fate Therapeutics initiated buy at BofA despite early-stage pipeline

The analysts at Bank of America have initiated the coverage on Fate Therapeutics ([[FATE]] +3.7%) with a buy rating and a price target of $115.00 per share indicating an upside of ~33.3%.As the diagram shows below, early-stage candidates dominate the company’s pipeline which primarily are the programmed cellular immunotherapies targeted at cancer.The analysts note that the company’s platform uses the induced pluripotent stem cells that generate natural killer cells which, according to them, prime the body’s immune system to fight cancer with advantages such as multiple dosing and less severe/ costly side effects.Two such candidates FT516 and FT596 are currently in Phase 1 studies for Relapsed / Refractory B-cell lymphoma and Refractory diffuse large B-cell lymphoma, respectively.The analysts expect FT538 undergoing Phase 1 trials in multiple myeloma and acute myeloid leukemia to generate the initial efficacy data in 2021. However, both trials are likely to get off the ground within the next few

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Fate Therapeutics initiated buy at BofA despite early-stage pipeline