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Update: Fate Therapeutics Shares Rise After FDA Clears Investigational New Drug Application for FT839

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(Updates to add the latest stock move in the headline and the first paragraph.)

Fate Therapeutics (FATE) shares were up more than 7% in Thursday trading after the US Food and Drug Administration approved the company's investigational new drug application for FT839, a product candidate designed to treat autoimmune diseases.

The company said that it now plans to advance FT839 into a trial designed to assess the product candidate across several autoimmune diseases, when given in combination with standard-of-care therapy and without conditioning chemotherapy.

Fate said enrollment in the phase 1/2 trial is expected to start in H2.

Price: $3.14, Change: $+0.21, Percent Change: +7.17%

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