Why Fate Therapeutics Is Trading Higher Today

Fate Therapeutics Inc FATE shares are trading higher on Friday, after a multi-billion dollar deal with Janssen Biotech to develop cell therapies for the treatment of cancer.

The company will receive $50 million upfront, $50 million in equity investment and is eligible to receive up to $1.8 billion.

Fate Therapeutics shares traded up 11.01% to $23.39 on Friday. The stock has a 52-week high of $32.39 and a 52-week low of $12.59 cents.