FATE (Fate Therapeutics Inc.) stock: $2.53, $303.1M market cap, $153.8M cash, $149.3M EV, $412.0M fully diluted market cap. Next expected readout: Sep-27. Lead program: FT819 (Lupus Nephritis), Phase 2. Data from Fully Diluted's biotech stocks database.
Balance sheet
| Cash | $153.8M |
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| Debt | $0.0M |
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| Net cash | $153.8M |
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| Enterprise value | $149.3M |
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| Basic shares | 116.7M shares |
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| Fully diluted shares | 162.8M shares |
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| Fully diluted market cap | $412.0M |
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| Cash per share | $1.32 |
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Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.
Price history
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Upcoming catalysts
| Expected | Drug | Phase | Indication | Mgmt guide |
|---|
| Nov 11 - Dec 23 | FT819 | Phase 1 | Antineutrophilic Cytoplasmic Antibody (ANCA)- Associated Vasculitis (A; Idiopathic Inflammatory Myositis (IIM); Systemic Sclerosis (SSc) | — |
| Feb 12 - Mar 25 | FT836 | Phase 1 | Non-Small Cell Lung Cancer; Colorectal Cancer; Breast Cancer | — |
| Nov 12 - Dec 24 | FT839 | Phase 1/2 | ANCA-Associated Vasculitis (AAV); Idiopathic Inflammatory Myositis (IIM); Rheumatoid Arthritis (RA) | — |
| Jun 12 - Jul 24 | FT825 | Phase 1 | Advanced Solid Tumor | — |
| Aug 12 - Sep 23 | FT819 | Phase 2 | Lupus Nephritis; Systemic Lupus Erythematosus; SLE - Systemic Lupus Erythematosus | — |
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Full readout calendar →
Pipeline assets
FT819
Phase 1 · Active Modality: cell therapy (off-the-shelf iPSC-derived CAR T-cell)
Target CD19
Partnerships $7.9M CIRM award (Feb 2024) supporting the Phase 1 study in SLE (award period Apr 2024-Mar 2028).
Indications- Systemic lupus erythematosus (moderate-to-severe), with and without lupus nephritis (Phase 1)
- Systemic sclerosis (SSc) (Phase 1)
- ANCA-associated vasculitis (AAV) (Phase 1)
- Idiopathic inflammatory myositis (IIM) (Phase 1)
Status note Off-the-shelf, iPSC-derived, CD19-targeted CAR T-cell product candidate designed to deplete disease-causing B cells in B cell-mediated autoimmune diseases. Multi-center Phase 1 in moderate-to-severe SLE (U.S., U.K., EU); dose-escalation at 900M cells completed in SLE, dose-expansion cohorts initiated in SSc, AAV and IIM (first SSc patient treated Oct 2025). FDA Regenerative Medicine Advanced Therapy (RMAT) designation for moderate-to-severe SLE (Apr 2025); company plans a Phase 2 registration-enabling protocol in lupus nephritis then extrarenal lupus, advancing toward BLA over the next several years.
FT522
Stage not disclosed · Active Modality: cell therapy (off-the-shelf iPSC-derived CAR NK cell)
Target CD19
Indications- B cell-mediated autoimmune diseases (Stage not disclosed)
Status note Off-the-shelf, CD19-targeted CAR NK cell candidate incorporating high-affinity non-cleavable CD16 (hnCD16) Fc receptor and Alloimmune Defense Receptor (ADR) technology designed to reduce the need for intense conditioning chemotherapy. FDA IND allowed Oct 2024 for B cell-mediated autoimmune diseases; company evaluating opportunities and timelines for clinical development, including potential combination with CD20/CD38 antibodies without conditioning chemotherapy.
FT825
Phase 1 · Active Modality: cell therapy (off-the-shelf iPSC-derived multiplexed-engineered CAR T-cell)
Target HER2
Partnerships In clinical collaboration with Ono Pharmaceutical (R&D collaboration for off-the-shelf multiplexed-engineered iPSC-derived CAR T/NK candidates for solid tumors).
Status note First multiplexed-engineered CAR T-cell candidate for solid tumors, incorporating seven novel synthetic controls including a cancer-selective HER2 binding domain (preferentially recognizes tumor-associated HER2 variants), synthetic CXCR2 receptor for tumor trafficking, synthetic TGFβ receptor to resist immunosuppression, and hnCD16. Phase 1 investigation ongoing.
FT836
Preclinical · Active Modality: cell therapy (off-the-shelf iPSC-derived CAR T-cell)
Target MICA/MICB
Partnerships $4.0M CIRM award (Jan 2025) supporting preclinical and IND-enabling activities (award period May-Oct 2025).
Indications- Cancer (pan-tumor strategy) (Stage not disclosed)
Status note Off-the-shelf CAR T-cell candidate targeting MICA/MICB stress proteins via a shedding-resistant domain as a pan-tumor strategy; incorporates 9 edits including hnCD16 for ADCC and Sword & Shield/ADR technology designed to reduce the need for conditioning chemotherapy.
FT839
Preclinical · Active Modality: cell therapy (off-the-shelf iPSC-derived CAR T-cell)
Target CD19 / CD38
Indications- Autoimmune diseases and hematological malignancies (Stage not disclosed)
Status note Next-generation CAR T program expressing two distinct CARs targeting CD19 and CD38, incorporating 13 edits including CD3 Fusion Receptor, hnCD16, and Sword & Shield technology. Described as a preclinical program; no clinical trial disclosed in the excerpts.
Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.