I know most people don't do their due diligence or read SEC filings, so I have done it for you. Let's compare $FATE to $AFMD
Pipelines are similar, in pre-clinical and phase 1:
$AFMD's pipeline: http://www.affimed.com/products.php
$FATE's pipeline: http://fatetherapeutics.com/pipeline/
$FATE's market cap: $664.53 million
$AFMD's market cap: 383.7 million
$FATE's cash on hand: $78.02 million
$AFMD's cash on hand: $55.23 million
$FATE's debt: $14.85 million
$AFMD's debt: $6.93 million
$FATE's last 10-Q states they think they'll have sufficient cash for next 12 months.
$AFMD's last 6-K quarterly report states they'll have sufficient cast through Q4, 2019 (the $96 million spread over a year, will most likely extend that duration out) If $AFMD were to trade at $664 million market cap, that works out to be: $664.53 / 62.39 million shares = $10.65
. However, the fact that Genentech is willing to foot most of the bill for the R&D costs AND they are receiving the $96 million over the period of a year, this should bring up the value significantly.