Fate Therapeutics Plans $69M IPOFriday, August 16, 2013
Fate Therapeutics Inc., a company developing stem cell transplants for blood cancer patients, recently proposed a $69 million initial public offering with the U.S. Securities and Exchange Commission. The company plans to trade on the Nasdaq under ticker symbol “FATE.”
The San Diego-based company, founded in 2007, is comprised of a stem cell dream team with researchers from Harvard University, Stanford University, the University of Washington, and The Scripps Research Institute.
The company reported in its prospectus a net loss of about $75 million over the past six years, and could benefit from the cash influx an IPO would bring.
There have been more than two dozen biotech IPOs planned this year, the majority filed since May.
— Meghana Keshavan