Mizuho Securities Reiterates Buy Rating on Fate Therapeutics (FATE) on Expanding Ono Collaboration

Mizuho Securities analyst Mara Goldstein reiterated a Buy rating and $109.00 price target on Fate Therapeutics (NASDAQ: FATE) after it expanded its ongoing collaboration with ONO to add an iPSC-derived CAR-NK candidate for solid tumors with binding domains targeting a novel second antigen provided by ONO.

The analyst commented, "We see the expansion as signifying forward progress on the original collaboration agreement in 2018 to develop iPSC-derived CAR-T cell candidates for solid tumors. FATE will continue to receive the research funding from ONO and is eligible to receive an option exercise fee, clinical/regulatory/commercial milestone payments in association with each candidate, the tiered royalties on net sales per candidate in ONO's territory, as well as the right to jointly develop and commercialize in the US and EU."

For an analyst ratings summary and ratings history on Fate Therapeutics click here. For more ratings news on Fate Therapeutics click here.

Shares of Fate Therapeutics closed at $26.25 yesterday.

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