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Could This Be a Turning Point for Fate Therapeutics?

Shares of Fate Therapeutics Inc. (NASDAQ: FATE) saw a healthy gain early on Monday following a key U.S. Food and Drug Administration (FDA) approval. Looking at the stock performance in 2016, this company has been crushed, but this approval could very well be the turning point that this company needs.

The company announced that the FDA has granted Fast Track Designation for ProTmune for the reduction of incidence and severity of acute graft-versus-host disease in patients undergoing allogeneic hematopoietic cell transplantation (HCT).

Apart from this, Fate also announced that its multi-center, randomized, controlled Phase 1/2 clinical trial of ProTmune in adult subjects with hematologic malignancies is open for...