Revenue during the quarter was stable at $1.03 million, when compared with the previous year period.

Operating loss for the quarter was $8.39 million, compared with an operating loss of $6.33 million in the previous year period.

"During the quarter, we made substantial progress and intensified our commitment towards accelerating the clinical development of ProTmune and bringing innovative natural killer- and T-cell cancer immunotherapies into the clinic," said Scott Wolchko, president and chief executive officer of Fate Therapeutics. "We significantly bolstered our ability to pursue accelerated registration for ProTmune by instituting investigator and patient blinding in our randomized, controlled PROTECT study. We advanced FATE-NK100, a first-in-class adaptive NK cell product candidate with multi-faceted anti-tumor activity, to IND filing and we are now preparing for the initiation of clinical investigation in early 2017. Additionally, we joined forces with Memorial Sloan Kettering Cancer Center to pioneer the development of off-the-shelf T-cell immunotherapies using engineered induced pluripotent cell lines, a breakthrough approach that enables the continuous production of clonal T-cell products at the scale necessary to serve significant numbers of patients."

Debt comes down significantly
Fate Therapeutics, Inc. has recorded a decline in total debt over the last one year. It stood at $12.64 million as on Sep. 30, 2016, down 33.95 percent or $6.49 million from $19.13 million on Sep. 30, 2015. Total debt was 25.63 percent of total assets as on Sep. 30, 2016, compared with 25.04 percent on Sep. 30, 2015. Debt to equity ratio was at 0.50 as on Sep. 30, 2016, up from 0.43 as on Sep. 30, 2015.