FATE THERAPEUTICS Reports 95% Decrease in Revenue for Q2 FY2023
August 16, 2023
🌥️Earnings Overview
FATE THERAPEUTICS ($NASDAQ:FATE) reported a 95.0% decrease in total revenue for the second quarter of their fiscal year 2023, amounting to USD 0.9 million, compared to the same period in the previous year. Their net income also decreased from -76.1 million the year prior to -52.8 million. These earnings results were reported on June 30th 2023.
Analysis
Analyzing FATE THERAPEUTICS‘s financials with GoodWhale, we can see that the company is classified as a ‘cheetah’—a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This makes it an attractive prospect for investors who value high growth potential but are willing to take on a bit more risk. FATE THERAPEUTICS has an intermediate health score of 4/10 with regard to its cashflows and debt, indicating that it may be able to safely ride out any crisis without the risk of bankruptcy, making it an attractive option for investors who want to balance out their portfolio with a bit of risk. Furthermore, FATE THERAPEUTICS is strong in asset, growth, and weak in dividend and profitability, making it an ideal investment for investors who prefer to focus more on the potential for growth than dividends. All in all, FATE THERAPEUTICS is an intriguing investment opportunity that is worth considering for investors who want to speculate on its potential for growth. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fate Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 119.25 | -211.56 | -194.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fate Therapeutics. More…
| Operations | Investing | Financing |
| -187.79 | 176 | 3.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fate Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 584.76 | 147 | 4.45 |
Key Ratios Snapshot
Some of the financial key ratios for Fate Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 108.2% | – | -202.9% |
| FCF Margin | ROE | ROA |
| -174.9% | -33.0% | -25.9% |
Peers
The company’s product candidates include ProTmune, a natural killer cell immunotherapy that is in Phase II clinical trials for the prevention of graft-versus-host disease; and FT-4202, a natural killer cell immunotherapy that is in Phase I clinical trials for the treatment of relapsed or refractory acute myeloid leukemia. Fate Therapeutics has collaborated with MD Anderson Cancer Center, the National Cancer Institute, and the Fred Hutchinson Cancer Research Center. Arvinas is a clinical-stage biopharmaceutical company that discovers and develops therapeutics to treat patients with cancer and other diseases. Arvinas’s lead product candidate is ARV-110, an androgen receptor inhibitor that is in Phase I clinical trials for the treatment of metastatic castration-resistant prostate cancer. Mirati Therapeutics is a clinical-stage biopharmaceutical company that develops targeted therapeutics against cancer. Mirati’s lead product candidate is sitravatinib, a kinase inhibitor that is in Phase III clinical trials for the treatment of non-small cell lung cancer. Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company that discovers and develops small molecule drugs for the treatment of cancer. Syndax’s lead product candidate is entinostat, an HDAC inhibitor that is in Phase III clinical trials for the treatment of advanced breast cancer.
– Arvinas Inc ($NASDAQ:ARVN)
Arvinas Inc. is a clinical-stage biopharmaceutical company, which engages in the discovery and development of therapeutics utilizing a novel proteolysis targeting chimera platform. Its products include ARV-110, ARV-471, and ARV-161. The company was founded by Craig M. Crews in 2013 and is headquartered in New Haven, CT.
– Mirati Therapeutics Inc ($NASDAQ:MRTX)
Mirati Therapeutics is a clinical-stage biopharmaceutical company focused on developing novel medicines to treat cancer. The company’s lead drug candidate, sitravatinib, is being studied in various Phase 2 and 3 clinical trials in several solid tumor types. In addition to sitravatinib, Mirati is also developing mocetinostat, a Phase 2 clinical stage drug candidate, and is advancing a pipeline of preclinical programs.
– Syndax Pharmaceuticals Inc ($NASDAQ:SNDX)
The company has a market cap of 1.33B as of 2022. The company’s ROE is 0.46%. The company focuses on the development of treatments for cancer and other diseases.
Summary
FATE THERAPEUTICS reported dismal earnings results for the second quarter of their fiscal year 2023, with revenue of USD 0.9 million, a 95.0% decrease year-over-year, and net income of USD -52.8 million, a decrease from -76.1 million the year prior. This suggests that the company is experiencing financial difficulties and is not likely to be a wise investment at this time. Investors should continue to monitor FATE THERAPEUTICS and their earnings results in the coming quarters before considering an investment.
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