Fate Therapeutics, Inc. (FATE) saw its loss widen to $7.94 million, or $0.21 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $7.45 million, or $0.26 a share.
Revenue during the quarter dropped 4.55 percent to $1.03 million from $1.08 million in the previous year period.
Operating loss for the quarter was $7.65 million, compared with an operating loss of $6.91 million in the previous year period.
"The past twelve months has been a period of significant progress for Fate Therapeutics, including advancing two first-in-class product candidates to clinical development and launching our revolutionary induced pluripotent cell platform to enable our ‘one cell, many patients’ approach to cancer immunotherapy. Additionally, we established collaborations with Dr. Jeffrey S. Miller at the University of Minnesota and Dr. Michel Sadelain at Memorial Sloan Kettering Cancer Center to build our off-the-shelf cancer immunotherapy pipeline using master pluripotent cell lines," said Scott Wolchko, President and Chief Executive Officer of Fate Therapeutics.
Debt comes down significantly
Fate Therapeutics, Inc. has recorded a decline in total debt over the last one year. It stood at $10.69 million as on Dec. 31, 2016, down 41.40 percent or $7.55 million from $18.24 million on Dec. 31, 2015.
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