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: SAN DIEGO, March 16, 2017 (GLOBE NEWSWIRE)
-- Fate Therapeutics, Inc. (NASDAQ:FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorders, today reported business highlights and financial results for the fourth quarter and year ended December 31, 2016. http://ir.fatetherapeutics.com/releasedetail.cfm?ReleaseID=1017765
(RTTNews) - Shares of Fate Therapeutics Inc. (FATE) were up over 20 percent in extended trading on Thursday, following a worldwide collaboration with Johnson & Johnson subsidiary (JNJ) Janssen for novel induced pluripotent stem cell-derived cell-based cancer immunotherapies.
"The Company received $100 million upon entering into the collaboration, including $50 million in an upfront cash payment and $50 million from the purchase by Johnson & Johnson Innovation – JJDC, Inc. of newly issued shares of the Company’s common stock at a price per share of $31.00."