Fate to bring iPS cell therapy to clinic

Fate Therapeutics Inc. (NASDAQ:FATE) gained $1.26 to $15.36 Friday after announcing that FDA will allow the biotech to move forward with a clinical trial of its allogeneic NK cell therapy FT500, which Fate says would be the first U.S. trial of an iPS cell-derived therapy.

The move puts Fate just shy of a $1 billion market cap...