SAN FRANCISCO, Jan. 18, 2023 (GLOBE NEWSWIRE) — Hagens Berman calls on Fate Therapeutics, Inc. FATE Investors who have suffered significant losses Submit your losses now.

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Fate Therapeutics, Inc. (FATE) Investigation:

The investigation focuses on Fate’s highly publicized collaboration agreement with Janssen Biotech, under which Janssen and Fate have agreed to collaborate on the development of iPSC-derived CAR-NK and CAR-T cell product candidates for the treatment of cancer.

As late as August 2022, Fate assured investors in relation to its Janssen agreement that “[w]We continue to show strong momentum in bringing multiplexed-technology iPSC-derived CAR-NK and CAR-T cells to patients for the treatment of hematologic malignancies and solid tumors.”

Fate’s assurances were called into question after the market close on January 5, 2023, when it announced that the company had received notice of termination of the cooperation agreement from Janssen on January 3, 2023, after Fate rejected Janssen’s proposal to to continue the agreement in revised terms.

The company also said that all collaborative activities with Janssen will cease in the first quarter of 2023 and that it will reduce its workforce from 545 (as of September 30, 2022) to approximately 220 in the first quarter of 2023.

This news led to a spate of analyst downgrades and drove Fate Therapeutics stock down over 60% on January 6, 2022, wiping out more than $600 million in shareholder value in a single day.

“We are focused on investor losses and whether Fate may have misled investors about the strength and prospects of its collaboration with Janssen,” said Reed Kathrein, the Hagens Berman partner who led the investigation.

If you have invested in Fate Therapeutics and incur significant losses or have knowledge that could assist the firm’s investigation, Click here to discuss your legal rights with Hagens Berman.

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