FATE THERAPEUTICS, INC. Item 1.02 Termination of a Material Definitive Agreement.
On
Under the terms of the Collaboration Agreement, in connection with the termination, (i) all licenses and other rights granted to either party pursuant to the Collaboration Agreement will terminate, subject to limited exceptions set forth in the Collaboration Agreement; (ii) both parties will wind down any development, commercialization and manufacturing activities under the Collaboration Agreement; (iii) neither party will have any right to continue to develop, manufacture or commercialize any collaboration candidate or collaboration product or use the other party's materials; and (iv) neither party is restricted from independently developing, manufacturing, or commercializing any product, including any products directed to the same antigens as those of any collaboration candidate or collaboration product.
The foregoing summary is qualified in its entirety by reference to the
Collaboration Agreement, a copy of which was filed as Exhibit 10.1 to the
Company's Quarterly Report on Form 10-Q for the quarter ended
Item 2.05 Costs Associated with Exit or Disposal Activities.
On
The Company estimates that it will incur charges of approximately
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(b)
In connection with the Company's restructuring plan and reduction to its
workforce, the employment of
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The foregoing summary is qualified in its entirety by reference to the Company's
Severance and Change in Control Policy, a copy of which was filed as Exhibit
10.32 to the Company's Annual Report on Form 10-K for the year ended
Item 8.01 Other Events.
On
Forward-Looking Statements
This Current Report on Form 8-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by such words as "expect," "anticipate," "intend," "estimate," and words of similar import and are based on current expectations that involve risks and uncertainties, such as the Company's plans, objectives, expectations and intentions. All statements other than historical or current facts are forward-looking statements, including, without limitation, statements about the wind-down of the Collaboration Agreement, the expected timing, magnitude and financial impact of the restructuring and workforce reduction, anticipated extension of the Company's cash runway, and the terms and conditions associated with the termination of executives and other employees. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially and adversely from those anticipated in the forward-looking statements. The statements in this Current Report on Form 8-K, including all forward-looking statements, speak only as of the date of this report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. Exhibit No. Description 99.1 Press Release datedJanuary 5, 2023 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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