We are investigating whether Fate Therapeutics, Inc. (Nasdaq: FATE) (“FATE”) violated federal securities laws in connection with the sudden termination of its collaboration and option agreement with Janssen Biotech, Inc. (“Janssen”).
If you remain a FATE shareholder and have questions about your legal rights, you may contact our firm to discuss your options at no charge by submitting the form below.
Why is there an investigation?
On January 5, 2023, after the markets closed, FATE announced that it had declined a proposal from Janssen for continuation of the collaboration and option agreement between the parties on revised terms and conditions and, as a result, the agreement has been terminated and all collaboration activities will be wound down in the first quarter of 2023.
Upon this news, FATE stock dropped nearly 50% in after-hours trading.
FATE had announced the agreement with Janssen in April 2020. Our investigation concerns whether FATE misled investors concerning the terms of the agreement with Janssen, and the likelihood that it would continue. For example, in an investor presentation on November 12, 2022, FATE had touted its “World Class Partnerships co-developing novel iPSC-derived CAR NK and CAR T-cell product candidates with Ono and Janssen for hematologic malignancies and solid tumors.”