Fate Therapeutics, Inc.

Hadian v. Fate Therapeutics, Inc. et al., (Case No. 3:23-cv-00111), S.D. Cal.

Stock ticker:
FATE

After the market closed on January 5, 2023, Fate Therapeutics, Inc. announced that it terminated its collaboration and option agreement for cell-based cancer immunotherapies with Johnson & Johnson’s Janssen, and that all collaboration activities would be wound down in Q1 2023.

The agreement between Fate Therapeutics and Janssen was initially announced in April of 2020, and Fate highlighted the economics of the collaboration in an investor presentation as recently as November 12, 2022.

Shares of Fate Therapeutics, Inc. stock dropped nearly 50% in afterhours trading on January 5, 2023 and plunged over 60% in intraday trading once the market opened on January 6, 2023.

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