Fate Therapeutics slumps over mixed data on cancer drugs

Fate Therapeutics

20/08/2021 17:39

** Drug developer's  FATE.O  shares fall as much as 21.4% to
$67.27, set for worst day since March 2020 
    ** Stock among top pct losers across U.S. exchanges 
    ** Co says two of its cancer drugs, FT596 and FT516, were
well-tolerated in early-stage trials, but analysts raised
concerns over short duration of treatment effect  urn:newsml:reuters.com:*:nGNX5LLgGz
    ** FATE says 8 out of 11 lymphoma patients treated with
FT516 saw their tumor shrink, called objective response (OR);
for those taking FT596, 10 out of 14 achieved OR
    ** Roth Capital Partners, in note, says natural-killer cells
in patients appear to stabilize for a short period of time
following co's treatment regime, but then drop again  
    ** SVB Leerink said that efficacy for both of co's programs
came in at the lower end, compared with competitor therapies for
treatment of B-cell lymphoma 
    ** Including session losses, FATE down 23.8% YTD, compared
with a 8.9% rise in the Nasdaq biotech index  .NBI  
   
    

 (Reporting by Bhanvi Satija)
 ((Bhanvi.Satija@thomsonreuters.com;))