Fate Therapeutics Wins $15M CIRM Grant to Advance Lupus CAR-T Trial
FATE has more than doubled off its 52-week low of $0.95.
Summary
Fate Therapeutics secured a $15.0 million CLIN2 grant from the California Institute for Regenerative Medicine to fund RECLAIM-LN, its Phase 2 potentially registrational trial of FT819 in lupus nephritis. The grant validates the program's scientific merit and provides non-dilutive capital for a pivotal study. This follows the first patient dosing in August and FDA clearance of the IND. The award reduces cash burn and supports enrollment of approximately 53 patients. Watch for initial data from the trial, expected in 2027.
At the time of this announcement, FATE was trading at $2.32 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $279.2M. The 52-week trading range was $0.95 to $3.23. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.