Fate Therapeutics sets up $100 million stock sale program with Leerink Partners

Fate Therapeutics, Inc. entered into a new sales agreement on November 5, 2026, with Leerink Partners LLC for an at-the-market stock offering program. Under the deal, the company may offer and sell shares of its common stock from time to time at its own discretion, up to an aggregate offering price of $100,000,000, through Leerink Partners as sales agent.¹

The shares will be sold under the company's existing Form S-3 registration statement, which was declared effective in late November 2023, with a prospectus supplement expected to be filed around the same date as the new agreement. The company also plans to file a new Form S-3 registration statement around the same date to replace the existing one, which is set to expire on November 27, 2026.¹

Leerink Partners will be paid a commission of up to 3.0% of the gross proceeds of any shares sold through the agreement, and the company has agreed to reimburse Leerink Partners for certain specified expenses.¹ Neither party is required to make sales under the arrangement, and Leerink Partners is not obligated to purchase or sell any shares.¹

In a related move, Fate Therapeutics ended its prior at-the-market agreement with Jefferies LLC, which had been in place since November 2023, effective immediately before signing the new Leerink Partners agreement. Through that earlier program, the company had sold about 2.8 million shares for roughly $8.0 million in gross proceeds.¹ No termination penalties were incurred in ending the Jefferies agreement.¹ Going forward, the company will not sell any further shares under that terminated agreement.¹