Fate Therap | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 1.741 M

Revenue: As of FY2025 Q3, the actual value is USD 1.741 M, beating the estimate of USD 1.681 M.

EPS: As of FY2025 Q3, the actual value is USD -0.27, beating the estimate of USD -0.284.

EBIT: As of FY2025 Q3, the actual value is USD -37.31 M.

Collaboration Revenue: $1.7 million for the three months ended September 30, 2025, compared to $3.1 million for the same period in 2024. For the nine months ended September 30, 2025, collaboration revenue was $5.3 million, compared to $11.8 million for the same period in 2024.

Research and Development Expenses: $25.8 million for the three months ended September 30, 2025, compared to $34.7 million for the same period in 2024. For the nine months ended September 30, 2025, research and development expenses were $82.4 million, compared to $101.4 million for the same period in 2024.
General and Administrative Expenses: $10.7 million for the three months ended September 30, 2025, compared to $20.8 million for the same period in 2024. For the nine months ended September 30, 2025, general and administrative expenses were $35.9 million, compared to $58.9 million for the same period in 2024.
Net Loss: $32.3 million for the three months ended September 30, 2025, compared to $47.7 million for the same period in 2024. For the nine months ended September 30, 2025, net loss was $103.9 million, compared to $134.1 million for the same period in 2024.

Net Cash Used in Operating Activities: $82.8 million for the nine months ended September 30, 2025, compared to $95.1 million for the same period in 2024.
Net Cash Provided by (Used in) Investing Activities: $83.5 million for the nine months ended September 30, 2025, compared to -$10.6 million for the same period in 2024.
Net Cash Provided by Financing Activities: $3.8 million for the nine months ended September 30, 2025, compared to $96.8 million for the same period in 2024.

Stock-Based Compensation: $19.4 million for the nine months ended September 30, 2025, compared to $32.4 million for the same period in 2024.
Depreciation and Amortization: $9.8 million for the nine months ended September 30, 2025, compared to $14.1 million for the same period in 2024.

Clinical Trials and Preclinical Studies: Continue to conduct and expand clinical trials and preclinical studies for product candidates, including the engagement of CROs and the procurement of laboratory equipment, materials, and supplies.
Manufacturing: Continue GMP production, process and scale-up development, and technology transfer activities for the manufacture of product candidates.
Research and Development: Continue research, development, and manufacturing activities, including under collaboration agreements.

Corporate Restructuring: Implemented a corporate restructuring in August 2025 to streamline operations, reduce operating expenses, and extend cash runway, including a reduction in total workforce.

Regulatory Approvals: Focus on obtaining regulatory approvals for product candidates and conducting additional clinical trials as required by regulatory authorities.
Commercialization: Prepare for the commercialization of product candidates, including establishing marketing and sales capabilities or partnering with third parties.