FATE - Fate Therapeutics is expected to dominate in cell therapy despite Gilead's entry
Justin Sullivan/Getty Images News Today, Kite, a unit of Gilead ([[GILD]] -0.3%) and Shoreline Biosciences announced a partnership to develop novel cell therapies targeting cancer. As part of the deal, Shoreline is entitled to receive an upfront payment and $2.3B in additional payments. The collaboration will focus on chimeric antigen receptor ((CAR)) natural killer ((NK)) targets initially, and Kite will then have an option to partner with Shoreline for a CAR Macrophage program based on induced pluripotent stem cells ((iPSC)). However, both analysts from Truist and Jefferies expect Fate Therapeutics ([[FATE]] +2.6%) to dominate the field despite Gilead’s entry. “While we see this as a positive for the iPSC-derived cell therapy space as a whole, we highlight that FATE continues to be in the lead in the space,” noted Truist analyst Robyn Karnauskas who rates Fate and Gilead with buy and hold recommendations, respectively. Meanwhile, Michael Yee at Jefferies with
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Fate Therapeutics is expected to dominate in cell therapy despite Gilead’s entry