![]() ![]() On January 5, 2023, Fate announced it had terminated the Janssen Collaboration Agreement. In truth, certain of the clinical programs, milestone payments, and royalty payments associated with the Janssen Collaboration Agreement could not be relied upon as future revenue sources, and as a result, Fate had overstated the impact of the Janssen Collaboration Agreement on Fate's long-term clinical and commercial profitability. On the news, Fate's stock price jumped 8.8% in trading on April 3, 2020.ĭuring the class period, defendants failed to disclose that the Janssen Collaboration Agreement was less sustainable than Fate had represented to investors. In addition, Fate was eligible for up to $3 billion in various milestone payments and double-digit royalties on any net sales from the collaboration. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.According to the complaint, on April 2, 2020, Fate announced its entry into a global collaboration and option agreement with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for cell-based cancer immunotherapies, under which Fate received a $50 million upfront payment ("Janssen Collaboration Agreement"). If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 31, Toll-Free at 88, by email to, or visit our website at If you inquire by email please include your mailing address, telephone number and number of shares purchased. ![]() To be a member of the class action you need not take any action at this time you may retain counsel of your choice or take no action and remain an absent member of the class action. The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the Janssen Collaboration Agreement was less sustainable than Fate had represented to investors (2) accordingly, certain the clinical programs, milestone payments, and royalty payments associated with the Janssen Collaboration Agreement could not be relied upon as future revenue sources (3) as a result, Fate had overstated the impact of the Janssen Collaboration Agreement's on Fate's long-term clinical and commercial profitability and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.įollow us for updates on LinkedIn, Twitter, or Facebook. Linehan, of GPM at 31, Toll-Free at 88, or via email at to learn more about your rights. ![]() If you wish to serve as lead plaintiff of the Fate lawsuit, you can submit your contact information at You can also contact Charles H. ("Fate" or the "Company") (NASDAQ : FATE ). 9, 2023 /PRNewswire/ - Glancy Prongay & Murray LLP ("GPM ") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Fate Therapeutics, Inc. ![]()
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