Stifel Downgrades Fate Therapeutics (FATE ) to Hold
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Fate Therapeutics (FATE) collapses 55% after terminating Janssen deal, earns several downgrades
January 6, 2023 8:28 AM ESTShares of Fate Therapeutics (NASDAQ: FATE) are down more than 56% in pre-market after the company said it has declined a proposal from Janssen Biotech, which is owned by Johnson & Johnson (NYSE: JNJ), for the continuation of the collaboration and option agreement between the parties.
As a result, the agreement has been terminated and the FT596 product candidate is discontinued. Instead, the company plans to... More
