Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Fate Therapeutics, Inc. (“Fate” or the “Company”) (NASDAQ: FATE) on behalf of Fate stockholders. Our investigation concerns whether Fate has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 5, 2023, Fate announced that it declined a proposal from Janssen Biotech, for the continuation of the collaboration and option agreement between the parties on revised terms. As a result, all collaboration activities are set to be wound down in Q1 2023. The Company further disclosed that it would prioritize its clinical programs and reduce its operating expenses, through layoffs and the discontinuation of some clinical programs. In the announcement, Fate CEO stated, "We are disappointed that we were not able to align with Janssen on their proposal for continuation of our collaboration, where two product candidates targeting high-value, clinically-validated hematology antigens were set to enter clinical development in 2023.”
Following this news, Fate's share price plummeted over 50% in pre-market trading on January 6, 2023.
If you purchased or otherwise acquired Fate shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.