Wedbush reiterates Outperform rating on Fate Therapeutics, $7 price target

Fate Therapeutics (FATE) reported Phase 1 data for FT819, its CAR T-cell therapy, showing a 50% reduction in urine protein for lupus nephritis patients. The treatment demonstrated a favorable safety profile with no serious toxicities. The company is advancing to a Phase 2 trial, RECLAIM-LN, with promising early results.

FATE THERAPEUTICS INC (FATE) filed an SEC Form 8-K — Other Events. Exhibit 99.1 Fate Therapeutics Announces Receipt of California Institute for Regenerative Medicine (CIRM) CLIN2 Grant to Advance RECLAIM-LN $15.0 Million Award to Support Advancement of RECLAIM-LN, a Phase 2 Potentially Registrational Trial of FT819 Off-the-Shelf CAR T-Cell Thera

Fate Therapeutics (FATE) received a $15M grant from CIRM to advance FT819 in a Phase 2 trial for lupus nephritis. The RECLAIM-LN study will evaluate the off-the-shelf CAR T-cell therapy in 53 patients. Preliminary data showed favorable safety and disease activity improvements. FATE's stock closed at $2.33, up 4.72% in pre-market trading.

Fate Therapeutics (NASDAQ: FATE) dosed the first patient in its Phase 2 potentially registrational RECLAIM-LN trial of FT819 for refractory moderate-to-severe SLE with Class III or IV lupus nephritis. The single-arm study targets about 53 patients, with complete renal response at Week 26 as the primary endpoint. Enrollment is expected to finish in 15-18 months, by 1H2028.

FATE THERAPEUTICS INC (FATE) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Fate Therapeutics Reports Second Quarter 2026 Financial Results and Business Updates First lupus nephritis patient dosed in RECLAIM-LN, a Phase 2 potentially registrational trial utilizing FT819, an iPSC-derived, off-the-shelf CAR T-cell therapy; patient was treated

Fate Therapeutics (NASDAQ: FATE) said the FDA cleared its IND for FT839, an off-the-shelf dual CAR T-cell candidate targeting CD19 and CD38. The company plans a Phase 1/2 multi-indication basket trial starting in 2H 2026 to test FT839 with standard-of-care for autoimmune diseases, with or without conditioning chemotherapy. Key initial indications include rheumatoid arthritis and lupus.