Fate Therapeutics, Inc. (NASDAQ:FATE) Q3 2019 Earnings Conference Call Transcript

Nov 05, 2019 • 05:00 pm ET

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Fate Therapeutics, Inc. (NASDAQ:FATE) Q3 2019 Earnings Conference Call Transcript

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Operator
Operator

Welcome to the Fate Therapeutics Third Quarter 2019 Financial Results Conference Call. At this time, all participants are in a listen-only mode. This call is being webcast live on Investors & Media section of Fate's website at fatetherapeutics.com. As a reminder, today's call is being recorded.

I would now like to introduce Scott Wolchko, President and CEO of Fate Therapeutics.

Executive
Scott Wolchko

Thank you. Good afternoon and thanks everyone for joining us for the Fate Therapeutics third quarter 2019 financial results call. Shortly after 4:00 p.m. Eastern Time today, we issued a press release with these results, which can be found on the Investors & Media section of our website under Press Releases. In addition, our Form 10-Q for the quarter ended September 30, 2019 was filed shortly thereafter and can be found on the Investors & Media section of our website under Financial Information.

Before we begin, I would like to remind everyone that except for statements of historical facts, the statements made by management and responses to questions on this conference call are forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Please see the forward-looking statement disclaimer on the Company's earnings press release issued after the close of the market today as well as the risk factors in the Company's SEC filings included in our Form 10-Q for the quarter ended September 30, 2019 that was filed with the SEC today.

Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made as the facts and circumstances underlying these forward-looking statements may change. Except as required by law, Fate Therapeutics disclaims any obligation to update these forward-looking statements to reflect future information, events or circumstances.

Joining me on today's call are Dr. Dan Shoemaker, our Chief Scientific Officer; Dr. Bob Valamehr, our Chief Development Officer and Dr. Wayne Chu, our Vice President of Clinical Development.

Over the past three months, Fate Therapeutics has achieved a series of key milestones that have firmly established the Company as the leading manufacturer and developer of off-the-shelf engineered NK cell and T-cell cancer immunotherapy, and which enable the Company to generate decisive clinical data across multiple product candidates from our iPSC product platform. These milestones include, one, treatment of the first patient with FT516. FT516 is an off-the-shelf targeted NK cell cancer immunotherapy derived from a clonal master induced pluripotent stem cell or iPSC line engineered to uniformly express a novel, high-affinity, non-cleavable CD16 Fc receptor. FT516 is the second product candidate emerging from our iPSC product platform and it is the first ever cell product in the world derived from a genetically-engineered iPSC line to be administered to a patient.

Number two, FDA clearance of our investigational new drug application for FT596, FT596 is an off-the-shelf iPSC derived, chimeric antigen receptor or CAR NK cell cancer immunotherapy that