Why Fate Therapeutics Stock Is Sliding Today
Shares of Fate Therapeutics (NASDAQ: FATE), a clinical-stage biotechnology company, are sliding in response to interim data from ongoing clinical trials with two of its new drug candidates. Investors unimpressed with the company's new approach to cancer drug development shaved 17.9% from the stock's price as of 11:41 a.m. EDT on Friday.
Fate Therapeutics reported interim results from 14 patients treated with FT596, an off-the-shelf immunotherapy made of natural killer cells engineered to target CD19. The company also reported interim results from a study with FT516, another experimental treatment made of NK cells engineered to stop cancer cells from shutting down the immune system when it attacks.
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Source Fool.com
