FATE - Fate Therapuetics rises 13% on outperform initiation from Cowen

Shares of Fate Therapeutics (FATE +13.0%) are up significantly today after Cowen initiated the company with an outperform rating. The firm does not have a price target. Analyst Tyler Van Buren writes that the company has a differentiated allogenic CAR T therapy approach that enhances current antibody treatments. He highlights two of the company's therapies in development for B-cell lymphoma, FT516 and FT596. Van Buren notes that FT516  + Rituxan (rituximab) resulted in a 73% overall response rate ("ORR") and 55% complete response rate ("CRR") compared to a 26-37% ORR and 6-16% CRR for CD20 mAbs Gazyva (obinutuzumab) and Monjuvi (tafasitamab). Data released in August on FT596 found that it had an ORR of 86% and complete response of 43% in a monotherapy arm. An updated on FT596 is expected at January's American Society of Hematology ("ASH") Annual Meeting. Van Buren adds that the company's acute myeloid leukemia and multiple myeloma franchises could,

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Fate Therapuetics rises 13% on outperform initiation from Cowen