SAN DIEGO, Jan. 27, 2023 (GLOBE NEWSWIRE) —

The class: Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all investors who have purchased or otherwise acquired Fate Therapeutics, Inc. stock. FATE Common stock between April 2, 2020 and January 5, 2023 for violating the Securities Exchange Act of 1934. Fate is a clinical-stage biopharmaceutical company developing programmed cellular immunotherapies for the treatment of cancer and immune disorders.

What now: Shareholders in a similar situation may be eligible to participate in the class action lawsuit against Fate. Shareholders who wish to be lead plaintiffs in the class action must file their filings by March 22, 2023. A Lead Plaintiff is a representative party acting on behalf of other Class Plaintiffs in the conduct of the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

What is it about in this case: Fate Therapeutics, Inc. (FATE) has misrepresented the impact of the Janssen Collaboration Agreement on Fate’s long-term clinical and commercial viability

According to the complaint, on April 2, 2020, Fate announced it had entered into a global collaboration and option agreement with Janssen Biotech, Inc., one of Johnson & Johnson’s Janssen Pharmaceutical Companies, for cell-based cancer immunotherapies, under which Fate received a $50 upfront payment million US dollars (“Janssen Collaboration Agreement”). In addition, Fate was eligible for up to $3 billion in various milestone payments and double-digit royalties on all net sales from the collaboration. In the news on April 3, 2020, Fate’s share price is up 8.8%.

During the class action, the defendants failed to disclose that the Janssen collaboration agreement was less sustainable than Fate had portrayed to investors. In truth, some of the associated clinical programs, milestone payments, and royalties are…