Fate Therapeutics

FATE

Biotechnology · Healthcare

Price

$2.78

+0.05 (+1.83%)

Market Cap

$324.0M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+25.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 94.7M (2021) → 118.8M (2025)

Fate Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignan

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-20.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+18.8% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$108M/ year

↓ Declining (-20% vs prior year)

>1,000% of revenue

90.1x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

12.6%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~4 months

$40M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Fate Therapeutics has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

-124.6%

Thin — -124.6% gross margin

Operating Margin

-2540.4%

Losing money on operations — -2540.4%

ROCE

-12.9%

Weak — -12.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-52.6%

Shrinking sales (-52.6% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-1711.4%

Burning cash (-1711.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.43

Conservative — low debt load (0.43)

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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