Keep an eye on Fate Therapeutics (FATE).
Oversold, the stock is seeing good momentum after highlighting positive interim Phase 1 data from the Company’s FT516 program for patients with relapsed / refractory B-cell lymphoma at the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting.
“These additional data from our Phase 1 study of FT516 administered off-the-shelf in the outpatient setting continue to reinforce its differentiated safety profile and underscore its potential clinical benefit,” said Wayne Chu, M.D., Senior Vice President of Clinical Development of Fate Therapeutics, as quoted in a company release.
“Based on the favorable therapeutic profile of FT516 that continues to emerge and the potential to treat patients on-demand without delay, we plan to initiate multiple indication-specific, dose-expansion cohorts for patients with B-cell lymphomas to broadly assess FT516 in combination with CD20-targeted monoclonal antibody regimens, including those used as standard-of-care in earlier-line settings,” they added.
At the moment, FATE is trading at $74.45. We’d like to see it closer to $95, near-term.