Fate falls by 50% following painful break-up with Janssen
Cellular immunotherapy specialist Fate Therapeutics (Nasdaq: FATE) was more than 50% down in Friday’s pre-market trading.
This followed the US company’s announcement that it has declined a proposal from the Johnson & Johnson (NYSE: JNJ) subsidiary Janssen Biotech for continuation of the collaboration and option agreement between the parties on revised terms and conditions.
As a result, the agreement has been terminated and all collaboration activities will be wound down in the first quarter of 2023.
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