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# Fate Stock Plunges 7% Following Redmile Amendment Tied To A Changed Share Count
- URL: https://www.bullished.co/fate-stock-plunges-7-following-redmile-amendment-tied-to-a-changed-share-count-771d3e0a/
- Published: 2026-11-10T16:32:12.000Z
- Updated: 2026-11-10T16:32:12.000Z
- Description: The ownership update reflected no new trading, while Fate reported early lupus responses without preparatory chemotherapy.
- Author: Matteo Parrino
- Tags: Markets, FATE, Industry: Healthcare

[Fate Therapeutics](https://www.bullished.co/tag/fate/), which develops cell therapies still in human testing, plunged 7.22% to $1.80 in Tuesday trading, as of 11:30 AM ET, erasing $17 million in market value. The decline followed Redmile Group's Monday SEC ownership amendment, which tied a fund's [reporting-threshold crossing](https://www.sec.gov/Archives/edgar/data/0001425738/000090514826004718/xslSCHEDULE%5F13D%5FX01/primary%5Fdoc.xml?ref=bullished.co) to Fate's changed share count rather than trades since the preceding amendment.

## A Rally Meets Another Sharp Drop

Fate was on pace for its second drop of 7% or more this month. Its market value stood at about $219 million in Tuesday trading, as of 11:30 AM ET.

The stock's recent weakness sits alongside a substantial rally for the year. Through Monday's close, Fate had gained 97%, compared with the S&P 500's 10% rise, but it had fallen 11% over the previous month.

## Lupus Responses Without Preparatory Chemotherapy

Fate reported Tuesday that all three lupus patients given its experimental FT819 treatment without preparatory chemotherapy had [measurable responses](https://www.globenewswire.com/news-release/2026/11/10/3399336/0/en/fate-therapeutics-presents-new-ft819-data-at-acr-convergence-2026-highlighting-meaningful-clinical-responses-in-lupus-without-the-use-of-conditioning-chemotherapy.html?ref=bullished.co). Two met remission criteria.

Across 36 patients receiving FT819 for autoimmune disease, there were no [dose-limiting toxicities](https://www.globenewswire.com/news-release/2026/11/10/3399336/0/en/fate-therapeutics-presents-new-ft819-data-at-acr-convergence-2026-highlighting-meaningful-clinical-responses-in-lupus-without-the-use-of-conditioning-chemotherapy.html?ref=bullished.co) — adverse effects severe enough to restrict dosing. Those findings remain early clinical results for an experimental treatment.

Fate uses engineered induced pluripotent stem cells as a renewable starting point for disease-fighting T cells and natural killer cells. FT819 is designed as an off-the-shelf treatment, manufactured from a master cell bank rather than a patient's or donor's cells.

The company is also advancing a mid-stage FT819 study for lupus nephritis, the form of lupus affecting the kidneys. Thursday's earnings release said enrollment was [open at 17](https://www.sec.gov/Archives/edgar/data/0001434316/000119312526448530/fate-ex99%5F1.htm?ref=bullished.co) active sites. Fate expects approximately 53 patients to receive a single 900-million-cell dose after bendamustine conditioning; the main goal is complete renal response at week 26.

A separate early- to mid-stage autoimmune trial is evaluating FT839 alongside standard treatment without requiring conditioning chemotherapy. The FDA cleared its investigational application in July 2026.

## Funding The Autoimmune Trials

Fate reported [zero revenue](https://www.sec.gov/Archives/edgar/data/1434316/000119312526448543/fate-20260930.htm?ref=bullished.co) and a $30.7 million net loss for the third quarter ended September 30, 2026\. Financing remains central to a business whose candidates are still being tested.

Thursday's earnings release listed $139.1 million in cash and investments and a $15 million grant from the California Institute for Regenerative Medicine to support the lupus-nephritis study. Fate said those resources [extend its funding](https://www.sec.gov/Archives/edgar/data/0001434316/000119312526448530/fate-ex99%5F1.htm?ref=bullished.co) to mid-2028.

### Sources

- [Fate Therapeutics Presents New FT819 Data at ACR](https://www.globenewswire.com/news-release/2026/11/10/3399336/0/en/fate-therapeutics-presents-new-ft819-data-at-acr-convergence-2026-highlighting-meaningful-clinical-responses-in-lupus-without-the-use-of-conditioning-chemotherapy.html?ref=bullished.co) — globenewswire.com
- [The company's filing (Fate Therapeutics)](https://www.sec.gov/Archives/edgar/data/0001425738/000090514826004718/xslSCHEDULE%5F13D%5FX01/primary%5Fdoc.xml?ref=bullished.co) — SEC filing
- [Fate Therapeutics — Form 10-Q for the quarter ended 2026-09-30 (quarterly results)](https://www.sec.gov/Archives/edgar/data/1434316/000119312526448543/fate-20260930.htm?ref=bullished.co) — SEC EDGAR
- [Fate Therapeutics — earnings release (Form 8-K, Item 2.02), filed 2026-11-05](https://www.sec.gov/Archives/edgar/data/0001434316/000119312526448530/fate-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR

### More on Fate Therapeutics

- [Redmile Fund Crosses 5% In Fate Therapeutics Without Buying More Shares](https://www.bullished.co/redmile-fund-crosses-5-in-fate-therapeutics-without-buying-more-shares-fc600369/)
- [Fate Therapeutics Expects Funding Through Mid-2028 As Lupus Kidney-Disease Trial Advances](https://www.bullished.co/fate-therapeutics-expects-funding-through-mid-2028-as-lupus-kidney-disease-trial-advances-d7f6a840/)
- [Fate Therapeutics Opens $100 Million Share-Sale Option, Replacing Jefferies With Leerink](https://www.bullished.co/fate-therapeutics-opens-100-million-share-sale-option-replacing-jefferies-with-leerink-db33964a/)

[All Fate Therapeutics (FATE) coverage →](https://www.bullished.co/tag/fate/)