Full Press Release Details
SAN DIEGO, Jan. 06, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Fate Therapeutics, Inc. (NASDAQ: FATE) (“Fate” or the “Company), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws.
What if I purchased Fate common stock? If you purchased Fate common stock and suffered significant losses on your investment, join our investigation now:
Click or paste the following web address into your browser to submit your losses:
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? 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.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com