Allogene Therapeutics Reports Second Quarter 2026 Financial Results and Business Update
Rhea-AI Summary
Allogene Therapeutics (Nasdaq: ALLO) reported Q2 2026 results and clinical progress for its allogeneic CAR T pipeline. In the pivotal Phase 2 ALPHA3 trial in first-line LBCL, interim futility analysis showed 58.3% (7/12) MRD negativity with cema-cel versus 16.7% (2/12) with observation, with no treatment-related serious adverse events, CRS, ICANS, GvHD or high-grade infections. FDA granted RMAT and Fast Track designations following this review. Site activation exceeded the 2026 goal early, with ~100 sites now expected by year-end and enrollment completion targeted for year-end 2027, and an EFS update expected mid-2027.
In autoimmune disease, brisk enrollment continues in the Phase 1 RESOLUTION trial of ALLO-329, with a data update planned in Q4 2026. Q2 2026 collaboration revenue was $4.6 million, R&D expense $30.7 million, G&A $20.8 million, and net loss $42.7 million, or $0.13 per share. Cash, cash equivalents and investments totaled $423.6 million at June 30, 2026, with cash runway projected into 2029. 2026 operating expense is expected to be about $165 million, and GAAP operating expenses about $225 million including approximately $35 million of non-cash stock-based compensation.
Positive
- MRD negativity 58.3% vs 16.7% for cema-cel vs observation in ALPHA3 interim analysis
- FDA RMAT and Fast Track designations granted for cema-cel as 1L consolidation in high-risk LBCL
- Site activation goal met six months early; ~100 ALPHA3 sites expected by year-end 2026
- Collaboration revenue $4.6 million in Q2 2026 versus none in Q2 2025
- Net loss improved to $42.7 million from $50.9 million year over year
- Cash and investments $423.6 million at June 30, 2026, with projected runway into 2029
Negative
- Ongoing net loss of $42.7 million in Q2 2026, or $0.13 per share
- G&A expenses rose to $20.8 million from $14.3 million year over year
- 2026 GAAP operating expenses expected at approximately $225 million including ~$35 million stock-based compensation
Market Reaction – ALLO
Following this news, ALLO has gained 2.90%, reflecting a moderate positive market reaction. Our momentum scanner has triggered 2 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $2.13.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 13 | First-quarter earnings | Positive | -8.2% | Clinical progress and extended runway accompanied a negative 24-hour price reaction. |
| Mar 12 | Fourth-quarter earnings | Positive | -2.8% | Cash runway and pipeline updates accompanied a negative 24-hour price reaction. |
| Nov 06 | Third-quarter earnings | Positive | +12.4% | Pipeline milestones and financial updates accompanied a positive 24-hour price reaction. |
| Aug 13 | Second-quarter earnings | Positive | +2.9% | ALPHA3 advancement and financial results accompanied a positive 24-hour price reaction. |
| May 13 | First-quarter earnings | Negative | -15.7% | Trial timing delays and cost-realignment measures accompanied a negative 24-hour price reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings events produced mixed reactions, with three positive responses and two divergences; the five-event average move was -2.28%.
Key Terms
mrd medical
rmat regulatory
fast track regulatory
lymphodepletion medical
cytokine release syndrome medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Pivotal Phase 2 ALPHA3 Program in 1L Large B-cell Lymphoma (LBCL):
- Recent Interim Futility Analysis Supports Cemacabtagene Ansegedleucel’s (Cema-Cel) Potential as an Outpatient, MRD-Guided 1L Consolidation Therapy
- Strong Execution and Increased Investigator Interest Accelerated 2026 Site Activation Target by Six Months; Approximately 100 Sites Now Expected by Year-End, Further Supporting Enrollment
- Next Update Anticipated in Mid-2027, with Trial Enrollment Expected to Be Completed by Year-End 2027
- Following Review of the Interim Futility Analysis, FDA Granted RMAT and Fast Track Designations for Cema-Cel Underscoring MRD Positivity as an Unmet Need in LBCL
- Phase 1 RESOLUTION Trial in Autoimmune Disease:
- Brisk Enrollment Continues Across ALLO-329 Dose Escalation and Lymphodepletion Optimization Cohorts
- Clinical Data Update Expected Q4 2026
- Ended the Second Quarter of 2026 with
$423.6 Million in Cash, Cash Equivalents and Investments - Conference Call and Webcast Scheduled for Today at 2:00 PM PT/5:00 PM ET
SOUTH SAN FRANCISCO, Calif., Aug. 12, 2026 (GLOBE NEWSWIRE) -- Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T) products for cancer and autoimmune disease, today provided corporate updates and reported financial results for the quarter ended June 30, 2026.
“When we reset our strategy in 2024, we started with the patient and focused on where the distinct attributes of allogeneic CAR T could create a clinical advantage,” said Zachary Roberts, M.D., Ph.D., President and Chief Executive Officer of Allogene. “ALPHA3 is the clearest expression of that strategy: identifying patients at high risk of relapse, treating before disease returns clinically, and enabling CAR T delivery where patients already receive care. We took the same patient-first approach with ALLO-329, recognizing early that chemotherapy-based lymphodepletion and treatment interruptions associated with leukapheresis in autologous therapy could create meaningful burdens for patients with autoimmune disease. Together, these programs demonstrate that the value of allogeneic CAR T extends well beyond off-the-shelf availability, offering the flexibility to address clinical and practical barriers other approaches cannot. We believe the scale of that opportunity will become increasingly apparent as our programs continue to advance.”
Cema-Cel: Pivotal Phase 2 ALPHA3 1L Consolidation Trial in LBCL
Cemacabtagene ansegedleucel (cema-cel) is being evaluated in ALPHA3, the first pivotal, randomized Phase 2 trial in LBCL designed to assess whether MRD-guided treatment following first-line therapy can delay or prevent clinical relapse.
In July, the U.S. Food and Drug Administration granted Regenerative Medicine Advanced Therapy (RMAT) and Fast Track designations for cema-cel as 1L consolidation therapy for patients with high-risk LBCL following review of the interim futility analysis. At the protocol-defined data cutoff, triggered when the 24th patient enrolled in the ongoing study arms completed the Day 45 MRD assessment,
Cema-cel was well-tolerated as of the data cutoff with no treatment-related serious adverse events. There were no cases of cytokine release syndrome (CRS), immune effector cell-associated neurotoxicity syndrome (ICANS), graft-versus-host disease (GvHD) or high-grade infections. No tocilizumab or steroids were administered for toxicity prophylaxis or treatment, and no patients were hospitalized for treatment-related adverse events. This profile compares favorably with the broader CAR T experience, where hospitalization for toxicity management remains common.
Most patients were treated and followed entirely in the outpatient setting. Community cancer centers accounted for approximately one-third of screening activity and cema-cel infusions, including sites with limited or no prior CAR T experience. These findings support ALPHA3’s potential to bring CAR T earlier in the course of disease and closer to where patients receive care.
The Company achieved its 2026 goal of activating more than 80 sites approximately six months ahead of schedule, driven by strong execution and increased investigator interest following the interim futility analysis. The Company now expects approximately 100 sites to be active by year-end, with the significant majority in the United States and additional sites in Canada, Australia and South Korea. This expansion is expected to support enrollment momentum, broaden access to the trial, and provide more sites with hands-on experience administering cema-cel ahead of a potential commercial launch.
ALPHA3 is expected to randomize approximately 220 MRD+ patients to either cema-cel consolidation or close observation, with enrollment anticipated to be completed by year-end 2027. The next program update tied to the interim event-free survival (EFS) analysis is expected in mid-2027.
ALLO-329: Purpose-Built Allogeneic CAR T for Autoimmune Disease
ALLO-329 is a next-generation, dual-targeting anti-CD19/CD70 AlloCAR T product incorporating the Company’s proprietary Dagger® technology. The product was designed to address allogeneic rejection by targeting activated CD70-positive host T cells, with the goal of supporting CAR T-cell expansion while reducing or eliminating the need for conventional chemotherapy-based lymphodepletion.
The ongoing Phase 1 RESOLUTION trial is a dose-escalation study evaluating cell dose of ALLO-329 and the role played by Dagger with and without lymphodepletion across multiple autoimmune indications, including systemic lupus erythematosus, scleroderma, and inflammatory myositis.
Enrollment continues at a brisk pace across cohorts, dose levels and lymphodepletion strategies. The Company remains on track to provide a clinical and translational update in the fourth quarter of 2026.
2026 Second Quarter Financial Results
- Research and development expenses were
$30.7 million for the second quarter of 2026, which includes$2.1 million of non-cash stock-based compensation expense. - General and administrative expenses were
$20.8 million for the second quarter of 2026, which includes$10.3 million of non-cash stock-based compensation expense. - Net loss for the second quarter of 2026 was
$42.7 million , or$0.13 per share, including non-cash stock-based compensation expense of$12.4 million . - The Company had
$423.6 million in cash, cash equivalents, and investments as of June 30, 2026.
Based on its cash, cash equivalents, and investments as of June 30, 2026, the Company currently projects its cash runway into 2029. Guidance for operating expense in 2026 is expected to be approximately
Conference Call and Webcast Details
Allogene will host a live conference call and webcast today at 2:00 p.m. PT / 5:00 p.m. ET to discuss financial results and provide a business update. If you would like the option to ask a question on the conference call, please use this link to register. Upon registering for the conference call, you will receive a personal PIN to access the call, which will identify you as the participant and allow you the option to ask a question. The listen-only webcast will be made available on the Company's website at www.allogene.com under the Investors tab in the News and Events section. Following the live audio webcast, a replay will be available on the Company's website for approximately 30 days.
About Allogene Therapeutics
Allogene Therapeutics, with headquarters in South San Francisco, is a clinical-stage biotechnology company pioneering the development of allogeneic chimeric antigen receptor T cell (AlloCAR T) products for cancer and autoimmune disease. Led by cell therapy veterans applying proven CAR T experience, Allogene is developing a pipeline of off-the-shelf CAR T cell product candidates with the goal of delivering readily available cell therapy on-demand, more reliably, and at greater scale to more patients. For more information, please visit www.allogene.com, and follow Allogene Therapeutics on X and LinkedIn.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management’s current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In some cases, forward-looking statements may be identified by words such as “expect,” “believe,” “aim,” “plan,” “intend,” “seek,” “estimate,” “target,” “potential,” “may,” “could,” “will,” “would,” “should,” “anticipate,” “support,” “designed to,” “working to” and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding the timing, design, conduct, and results of Allogene’s clinical trials and analyses (including the interim futility analysis and MRD clearance outcomes from the Phase 2 ALPHA3 trial of cema-cel and updates from the Phase 1 RESOLUTION trial of ALLO-329); the extent to which additional clinical trial sites may support enrollment momentum, broaden access to the ALPHA3 trial, or provide more sites with hands-on experience administering cema-cel ahead of a potential commercial launch; the rate and pace of enrollment in the RESOLUTION trial; the potential benefits and regulatory implications of the RMAT and Fast Track designations for cema-cel; the potential clinical benefits, safety, tolerability, durability, and efficacy of Allogene’s product candidates; the potential for MRD-guided first-line consolidation to improve outcomes in LBCL; the extent to which published literature, cross-study benchmarks, and observed or potential MRD clearance differences of 25
Dagger® is a trademark of Allogene Therapeutics, Inc.
Allogene’s investigational AlloCAR T oncology products utilize Cellectis technologies. Cemacabtagene ansegedleucel (cema-cel) was developed based on an exclusive license granted by Cellectis to Servier. Servier has granted Allogene exclusive rights to cema-cel in the U.S., all EU Member States and the United Kingdom. The anti-CD70 AlloCAR T program is licensed exclusively from Cellectis by Allogene and Allogene holds global development and commercial rights to this AlloCAR T program. ALLO-329 (CD19/CD70) in autoimmune disease uses CRISPR gene-editing technology.
| ALLOGENE THERAPEUTICS, INC. | ||||||||
| SELECTED FINANCIAL DATA | ||||||||
| (unaudited; in thousands, except share and per share data) | ||||||||
| STATEMENTS OF OPERATIONS | ||||||||
| Three Months Ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Collaboration revenue - related party | $ | 4,640 | $ | — | ||||
| Operating expenses: | ||||||||
| Research and development | $ | 30,721 | $ | 40,156 | ||||
| General and administrative | 20,839 | 14,281 | ||||||
| Impairment of long-lived assets | — | 2,382 | ||||||
| Total operating expenses | 51,560 | 56,819 | ||||||
| Loss from operations | (46,920 | ) | (56,819 | ) | ||||
| Other income (expenses), net: | ||||||||
| Interest and other income, net | 4,647 | 6,187 | ||||||
| Interest expense | (343 | ) | (268 | ) | ||||
| Other income (expenses), net | (61 | ) | (43 | ) | ||||
| Total other income (expenses), net | 4,243 | 5,876 | ||||||
| Net loss | $ | (42,677 | ) | $ | (50,943 | ) | ||
| Net loss per share, basic and diluted | $ | (0.13 | ) | $ | (0.23 | ) | ||
| Weighted-average number of shares used in computing net loss per share, basic and diluted | 328,930,269 | 218,929,548 | ||||||
| SELECTED BALANCE SHEET DATA | ||||||
| As of June 30, 2026 | As of December 31, 2025 | |||||
| Cash, cash equivalents and investments | $ | 423,590 | $ | 258,253 | ||
| Total assets | 550,091 | 415,905 | ||||
| Total liabilities | 113,916 | 123,363 | ||||
| Total stockholders’ equity | 436,175 | 292,542 | ||||
Allogene Media/Investor Contact:
Christine Cassiano
EVP, Chief Corporate Affairs & Brand Strategy Officer
Christine.Cassiano@allogene.com
