24/7 Market News Snapshot 18 November, 2024 – Fate Therapeutics, Inc. (NASDAQ:FATE)

November 18, 2024

DENVER, Colo., 18 November, 2024 (247marketnews.com) – (NASDAQ:FATE) are discussed in this article.
Fate Therapeutics, Inc. has experienced a significant surge in its stock price, reflecting growing investor interest following a remarkable clinical milestone in its efforts against systemic lupus erythematosus (SLE). Today, shares of Fate Therapeutics opened at $2.142 and rose to $2.724, an impressive increase of 34.85% from the previous close of $2.020, supported by a trading volume of 3.41 million shares. This upward momentum may signal a bullish trend, positioning FATE as an attractive stock for traders and investors.

The impetus behind this surge can be attributed to the company’s advancements in its Phase 1 Autoimmunity study of FT819, an innovative CAR T-cell therapy designed for patients with moderate-to-severe SLE. Recently presented initial clinical data at a prominent medical conference highlighted the case of a 27-year-old patient with active lupus nephritis, who achieved complete clinical remission following treatment with FT819. Notably, this patient remained off immunosuppressive therapies for six months, demonstrating a potentially groundbreaking therapeutic impact.

Dr. Jennifer Medlin, the Principal Investigator for the study, expressed enthusiasm over the initial results, noting the achievement of drug-free clinical remission and resolution of fatigue, a common issue faced by patients using traditional treatments. Currently, three patients have been treated with FT819, and all continue on-study without serious adverse effects.

President and CEO Scott Wolchko underscored the company’s commitment to transforming the landscape of autoimmune disease treatment, asserting that their differentiated approach utilizing off-the-shelf CAR T-cell therapy could significantly improve patient outcomes. Fate Therapeutics remains dedicated to advancing cellular immunotherapies, aiming to provide innovative solutions for individuals affected by autoimmune disorders and cancer.

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