Allogene Therapeutics Stock Price, News & Analysis

Allogene Therapeutics (ALLO) announced significant developments in its clinical initiatives, including anticipated U.S. FDA clearance for the Phase 2 pivotal trial of ALLO-501A targeting relapsed/refractory large B cell lymphoma (LBCL). This trial could be a first for allogeneic CAR T therapies. The company’s manufacturing facility, Cell Forge 1, is expected to produce approximately 20,000 doses annually. As of June 30, 2022, Allogene reported $686 million in cash and a net loss of $74.8 million for Q2 2022, with increased spending expected in the second half of the year.

Allogene Therapeutics (Nasdaq: ALLO), a clinical-stage biotechnology company, announced its participation in three upcoming investor conferences. These include the 42nd Annual Canaccord Genuity Growth Conference on August 11, 2022, the H.C. Wainwright 24th Annual Global Investment Conference on September 12, 2022, and the Baird 2022 Global Healthcare Conference on September 13, 2022. Allogene is focused on developing allogeneic CAR T products for cancer treatment. Webcasts of the presentations will be available on the company’s website.

Allogene Therapeutics (Nasdaq: ALLO) will announce its second quarter 2022 financial results on August 9, 2022, after market close. A conference call and live audio webcast will follow at 2 PM PT/5 PM ET. The webcast can be accessed on the company's website, with a replay available for 30 days. Allogene focuses on developing AlloCAR T™ products to provide accessible cell therapy for cancer patients. This initiative aims to enhance the reliability and scalability of treatment options.

Allogene Therapeutics (Nasdaq: ALLO) has appointed Stephen L. Mayo, Ph.D., an expert in computational protein design, to its Board of Directors. Mayo has extensive experience in both academia and the biopharmaceutical sector, which is expected to benefit Allogene as it advances its AlloCAR T product pipeline. Mayo's background includes leadership roles at Caltech and co-founding several biotech companies. His appointment is aimed at enhancing the company's ability to deliver innovative cell therapies to cancer patients.

Allogene Therapeutics (Nasdaq: ALLO) announced the FDA granted RMAT designation to ALLO-501A for patients with relapsed/refractory large B cell lymphoma (LBCL). This recognition follows positive results from the ALPHA2 trial, demonstrating safety and durable responses. Treatment initiation occurs within two days, enhancing patient access. The company plans to start a Phase 2 pivotal trial in mid-2022. The RMAT designation aims to expedite the development of ALLO-501A, which aims to meet critical patient needs lacking effective therapies.

Allogene Therapeutics (Nasdaq: ALLO) presented preclinical findings indicating that allogeneic CAR T cells derived from younger, healthy donors exhibit significantly improved fitness and anti-tumor potential compared to those from older donors and cancer patients. This research suggests such cells could mitigate manufacturing failures common in autologous therapies. The study was shared at the 2022 ASGCT Annual Meeting, emphasizing the promise of developing reliable, off-the-shelf CAR T therapies.

Allogene Therapeutics, Inc. (Nasdaq: ALLO) has been ranked as the top biotechnology company on the 2022 Best Places to Work list by the San Francisco Business Times and the Silicon Valley Business Journal. This recognition is based on employee surveys evaluating engagement, communication, and team dynamics among other factors, highlighting a strong workplace culture. CEO David Chang emphasized the importance of employee feedback in achieving this accolade. Allogene, which focuses on developing allogeneic CAR T therapies, actively seeks to expand its workforce.

Allogene Therapeutics (NASDAQ: ALLO) updated its corporate progress and financial results for Q1 2022, reporting a net loss of $79.9 million, or $0.56 per share, with cash reserves of $733 million as of March 31, 2022. The pivotal Phase 2 ALPHA2 trial for ALLO-501A in relapsed/refractory large B-cell lymphoma is anticipated to commence mid-2022, supported by the newly operational Cell Forge 1 manufacturing facility, capable of producing approximately 20,000 doses annually. The company also received FDA Orphan Drug Designation for ALLO-605, its first TurboCAR product candidate for multiple myeloma.

Allogene Therapeutics has appointed Susan Lundeen as the new Chief People Officer, effective May 2, 2022, in a role designed to enhance their human resources strategy as the company prepares for pivotal trials and expands its AlloCAR T pipeline. Lundeen brings extensive experience from previous roles at Unity Biotechnology and Kythera Biopharmaceuticals. Allogene, a leader in allogeneic cell therapy, currently employs over 320 staff and aims to foster a competitive and inclusive workforce to drive its growth trajectory in cancer treatment.