FATE THERAPEUTICS INC (FATE) saw its loss widen to $10.13 million, or $0.24 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $8.38 million, or $0.29 a share.
Revenue during the quarter dropped 22.31 percent to $1.03 million from $1.32 million in the previous year period.
Operating loss for the quarter was $9.97 million, compared with an operating loss of $7.92 million in the previous year period.
"This has been an exciting quarter for us as we have successfully launched our multi-pronged clinical development strategy for FATE-NK100 across both hematologic and solid tumor malignancies. We also continue to be encouraged by investigator enthusiasm for ProTmune and look forward to sharing key clinical data in mid-2017 from the safety stage of our PROTECT study," said Scott Wolchko, president and chief executive officer of Fate Therapeutics. "Additionally, we are very pleased with the constructive feedback we received from regulatory authorities in both the United States and the United Kingdom regarding our specific manufacturing and development plans for our first-of-kind cell products derived from master pluripotent cell lines. These formal meetings confirmed our alignment with key regulatory agencies in bringing our off-the-shelf iPSC-derived cell products into human clinical trials."
Working capital increases sharplyFATE THERAPEUTICS has recorded an increase in the working capital over the last year. It stood at $66.54 million as at Mar. 31, 2017, up 55.90 percent or $23.86 million from $42.68 million on Mar. 31, 2016. Current ratio was at 4.94 as on Mar. 31, 2017, up from 4.07 on Mar. 31, 2016.
Debt comes down significantlyFATE THERAPEUTICS has recorded a decline in total debt over the last one year. It stood at $8.70 million as on Mar. 31, 2017, down 46.96 percent or $7.70 million from $16.40 million on Mar. 31, 2016. Total debt was 10.20 percent of total assets as on Mar. 31, 2017, compared with 27.94 percent on Mar. 31, 2016. Debt to equity ratio was at 0.14 as on Mar. 31, 2017, down from 0.53 as on Mar. 31, 2016. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
