Allogene (NASDAQ: ALLO) posts Q1 2026 loss, updates ALPHA3 data and cash runway
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Allogene Therapeutics reported first quarter 2026 results and a major portfolio change. The company terminated its exclusive license with Overland covering four CAR T targets in parts of Asia, with no termination payments, and restructured its Overland ownership and governance; Allogene now expects to hold about 3% of Overland’s equity.
Interim data from the pivotal Phase 2 ALPHA3 trial showed 58.3% of patients on cemacabtagene ansegedleucel achieved minimal residual disease clearance versus 16.7% on observation, with a 97.7% median ctDNA reduction and no CRS, ICANS, GvHD, treatment-related serious events or hospitalizations. In autoimmune disease, nine patients have been treated in the Phase 1 RESOLUTION trial of ALLO-329 with early signs of activity and favorable tolerability.
Research and development expense was $32.0 million and general and administrative expense was $14.1 million, leading to a net loss of $42.6 million, or $0.18 per share. Allogene ended the quarter with $266.9 million in cash, cash equivalents and investments, and an April 2026 public offering added $200.4 million in gross proceeds, extending projected cash runway into the first quarter of 2029. The company now guides 2026 operating cash expense to about $165 million and GAAP operating expenses to about $225 million.
Positive
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Negative
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Insights
Stronger cash runway and encouraging early data, but programs remain in development.
Allogene Therapeutics exited its Overland regional licensing deal without termination payments and reduced its equity stake to roughly 3%. Strategically, this removes future milestone and royalty potential in those Asian markets while simplifying the company’s focus on wholly controlled programs.
Clinically, interim ALPHA3 results in first-line LBCL showed higher MRD clearance with cema-cel versus observation (58.3% vs 16.7%) and a clean safety profile without CRS, ICANS, GvHD or treatment-related hospitalizations. These are promising signals but come from a small early dataset; the study still targets about 220 patients with an interim event-free survival analysis planned for mid-2027.
Financially, Q1 2026 net loss was $42.6 million with operating expenses of $46.1 million. Cash and investments of $266.9 million plus $200.4 million in April offering proceeds extend runway into Q1 2029, supporting higher 2026 operating cash spend guidance of about $165 million. The filing underscores solid capitalization but continued reliance on external funding until potential pivotal readouts.
8-K Event Classification
4 items: 1.01, 1.02, 2.02, 9.01
4 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 1.02
Termination of a Material Definitive Agreement
Business
A significant contract was terminated, which may affect business operations or revenue.
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net loss: $42.6 million
Net loss per share: $0.18 per share
R&D expense: $32.0 million
+5 more
8 metrics
Net loss
$42.6 million
Net loss for the quarter ended March 31, 2026
Net loss per share
$0.18 per share
Basic and diluted for Q1 2026
R&D expense
$32.0 million
Research and development expense in Q1 2026
Cash and investments
$266.9 million
Cash, cash equivalents and investments as of March 31, 2026
April 2026 offering
$200.4 million
Aggregate gross proceeds from April 2026 public offering
2026 cash expense guidance
$165 million
Approximate 2026 operating cash expense guidance
ALPHA3 MRD clearance
58.3% vs 16.7%
MRD clearance cema-cel arm vs observation at interim analysis
ctDNA change
97.7% decrease vs 26.6% increase
Median ctDNA change at Day 45 cema-cel vs observation
Key Terms
Material Definitive Agreement, minimal residual disease (MRD), event-free survival (EFS), Biologics License Application (BLA), +2 more
6 terms
Material Definitive Agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement On May 12, 2026, Allogene Therapeutics, Inc."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
minimal residual disease (MRD) medical
"58.3% (7/12) of Patients in the Cema-Cel Arm Achieved Minimal Residual Disease (MRD) Clearance"
The presence of minimal residual disease (MRD) means a very small number of cancer cells remain in the body after treatment, too few to cause symptoms or show up on routine scans but detectable with sensitive tests. For investors it matters because MRD status is a strong early indicator of whether a patient is likely to relapse and is increasingly used as a trial endpoint and regulatory signal, affecting a therapy’s market prospects and valuation much like finding glowing embers after a fire signals risk of re-ignition.
event-free survival (EFS) medical
"The study is powered to detect a 50% reduction in the risk of EFS events"
Event-free survival (EFS) is a clinical-trial measure of how long patients go after treatment without experiencing a predefined setback such as disease progression, relapse, the need for additional therapy, or death. For investors it signals how well a treatment works over time — like a stopwatch measuring how long a product performs before a failure — and strong EFS results can affect a drug’s market potential, regulatory outlook, and commercial prospects.
Biologics License Application (BLA) regulatory
"If positive, these results could support a Biologics License Application (BLA) submission."
A biologics license application (BLA) is a formal request to a government agency seeking approval to sell a biological medicine, such as vaccines or gene therapies, in the market. It is similar to a detailed report that proves the product is safe, effective, and manufactured properly. For investors, a BLA signifies a critical step toward commercial availability, often impacting a company's valuation and market prospects.
lymphodepletion medical
"Dose Escalation and Lymphodepletion Optimization Ongoing; Next Update Expected Q4 2026"
Lymphodepletion is a short medical treatment that lowers a patient’s lymphocytes, the immune cells that can interfere with certain cell-based therapies, to create a more supportive environment for the new therapy to work. Think of it like clearing a crowded garden bed before planting seeds: by temporarily reducing competing cells, the engineered therapy can take hold more effectively. Investors watch lymphodepletion because it affects clinical trial results, safety profiles, treatment adoption, and overall commercial potential.
allogeneic CAR T medical
"a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T) products"
Allogeneic CAR T is a type of cancer immunotherapy made from immune cells collected from a healthy donor, genetically reprogrammed to recognize and kill cancer cells, and stored like an off‑the‑shelf medicine. For investors it matters because donor-based products can be manufactured at scale and delivered faster and cheaper than patient-specific (custom) therapies, but they also carry different safety and regulatory risks that affect commercial potential and valuation.
Earnings Snapshot
Net loss: $42.6 million · Guidance included
Q1 2026
Net loss
$42.6 million
R&D expense
$32.0 million
G&A expense
$14.1 million
Cash, cash equivalents and investments
$266.9 million
Guidance
Allogene expects 2026 operating cash expenses of approximately $165 million and GAAP operating expenses of approximately $225 million, including about $35 million of non-cash stock-based compensation.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 8-K
____________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 13, 2026 (May 12, 2026 )
_______________________
(Exact name of registrant as specified in its charter)
____________________________
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices including zip code)
Registrant’s telephone number, including area code: (650 ) 457-2700
(Former name or former address, if changed since last report.)
________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. of Form 8-K):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement
On May 12, 2026, Allogene Therapeutics, Inc. (“Allogene”) entered into (i) a Termination Agreement (the “Termination Agreement”) with Overland Therapeutics (SH) Co. Ltd. and Overland Therapeutics Inc. (collectively, the “Overland Parties”) and (ii) a Second Amended and Restated Shareholders’ Agreement (the “Shareholders Agreement”) with Overland Therapeutics Inc. ("Overland") and HH BioPharma Holdings Ltd.
Pursuant to the Termination Agreement, the parties agreed to terminate that certain Exclusive License Agreement, dated December 14, 2020, as amended on May 24, 2024 (as amended, the “License Agreement”), effective as of the date of the Termination Agreement. The License Agreement granted the Overland Parties an exclusive license to develop, manufacture and commercialize certain allogeneic CAR T cell therapies directed at four targets, BCMA, CD70, FLT3 and DLL3 in greater China, Taiwan, South Korea and Singapore. Under the License Agreement, the Company received an upfront payment $40.0 million and non-cash consideration of $79.0 million in the form of shares of series seed preferred stock of Overland and was entitled to additional regulatory milestone payments of up to $40.0 million, if achieved, and a flat mid single-digit royalty on net sales in the licensed territory. The Termination Agreement provides that the License Agreement is terminated in its entirety, subject to certain customary survival provisions. The parties also provided mutual release of claims arising under the License Agreement through the effective date. No termination payments were made in connection with the Termination Agreement.
In connection with the foregoing, Allogene surrendered a portion of its equity interests in Overland for no consideration, and following such transaction, Allogene expects to hold approximately 3% of Overland’s outstanding equity on an as-converted and fully diluted basis. The Shareholders Agreement amends and restates the prior shareholders’ agreement and reflects a restructuring of Allogene’s equity ownership and governance rights with respect to Overland.
Item 1.02 Termination of a Material Definitive Agreement
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 1.02.
Item 2.02 Results of Operations and Financial Condition.
On May 13, 2026, Allogene Therapeutics, Inc. (the “Company”) provided a corporate update and announced its financial results for the quarter ended March 31, 2026 in the press release attached hereto as Exhibit 99.1, which is incorporated herein by reference.
The information in this Item 2.02, including the attached Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
| (d) | ||||||||
Exhibit Number | Description | |||||||
| 99.1 | Press Release of the Company, dated May 13, 2026. | |||||||
| 104 | The cover page of this report has been formatted in Inline XBRL. | |||||||
Allogene intends to file the Termination Agreement and the Second Amended and Restated Shareholders’ Agreement as exhibits to its Quarterly Report on Form 10-Q for the quarter ending June 30, 2026.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ALLOGENE THERAPEUTICS, INC. | |||||||||||
| By: | /s/ David Chang, M.D., Ph.D. | ||||||||||
| David Chang, M.D., Ph.D. | |||||||||||
| President, Chief Executive Officer | |||||||||||
Dated: May 13, 2026
Exhibit 99.1
Allogene Therapeutics Reports First Quarter 2026 Financial Results and Business Update
•Planned Interim Futility Analysis from Pivotal Phase 2 ALPHA3 Trial Supports Cemacabtagene Ansegedleucel's (Cema-Cel) Potential as an Outpatient, MRD-Guided Consolidation Therapy in 1L Large B-cell Lymphoma (LBCL)
◦58.3% (7/12) of Patients in the Cema-Cel Arm Achieved Minimal Residual Disease (MRD) Clearance Compared with 16.7% (2/12) in the Observation Arm
◦At Day 45, ctDNA Levels Decreased by a Median of 97.7% from Baseline in the Cema-Cel Arm Versus a Median Increase of 26.6% in the Observation Arm
◦Favorable Safety Profile with No CRS, ICANS, GvHD, or Treatment-Related Serious Adverse Events or Hospitalizations, Enabling Majority Outpatient Management
◦Approximately One-Third of Screening Activity and Cema-Cel Infusions Occurred at Community Cancer Centers, Including Sites New to CAR T Therapy
◦Site Activation and Patient Screening Underway in South Korea and Australia
◦Interim Event-Free Survival (EFS) Analysis Expected Mid-2027
•Phase 1 RESOLUTION Trial with ALLO-329 in Autoimmune Disease Continues Dose Escalation
◦Nine Patients Treated Across Dose Level 1 (20 Million Cells) and Dose Level 2 (40 Million Cells) Since Enrollment Began in November 2025
◦Initial Observations at Early Dose Levels Show Signs of Clinical Activity and Favorable Tolerability
◦Dose Escalation and Lymphodepletion Optimization Ongoing; Next Update Expected Q4 2026
•Ended the First Quarter of 2026 with $266.9 Million in Cash, Cash Equivalents and Investments
◦April Public Offering Added Gross Proceeds of $200.4 Million to Extend Cash Runway into the First Quarter of 2029
•Conference Call and Webcast Scheduled for Today at 2:00 PM PT/5:00 PM ET
SOUTH SAN FRANCISCO, Calif., May 13, 2026 – 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 March 31, 2026.
“We are encouraged by the interim results from our ALPHA3 trial, which highlight cema-cel’s potential to deliver meaningful MRD clearance with a favorable safety profile in the outpatient setting,” said David Chang, M.D., Ph.D., President, Chief Executive Officer and Co-Founder of Allogene. “These findings support our belief that an allogeneic approach can expand access to CAR T earlier in treatment and into community-based practices, where most patients are treated. We are also encouraged by investigator enthusiasm and rapid enrollment and dose escalation in the ALLO-329 RESOLUTION trial as we evaluate the optimal cell dose and lymphodepletion regimen. With the capital raised in April, we believe we are well positioned to execute across our clinical programs and key milestones.”
Cema-Cel: Pivotal Phase 2 ALPHA3 1L Consolidation Trial in LBCL
The Company’s lead program, cemacabtagene ansegedleucel (cema-cel), is being evaluated in the ALPHA3 trial, the first pivotal, randomized Phase 2 study in LBCL designed to assess whether MRD-guided intervention before relapse can potentially delay or prevent recurrence. The study identifies high-risk patients using Natera’s CLARITY™ MRD assay which is powered by its phased variant MRD technology.
In April, the Company reported data from the planned interim futility analysis of ALPHA3. At the protocol-defined data cutoff, triggered when the 24th patient enrolled in the ongoing study arms completed the Day 45 MRD assessment, 58.3% (7/12) of patients in the cema-cel arm achieved MRD negativity compared to 16.7% (2/12) in the observation arm. This represents a 41.6% absolute difference in MRD clearance between the two arms. Published literature suggests that MRD clearance differences of 25-30% may lead to clinically meaningful improvement at study completion.
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) or graft-versus-host disease (GvHD), and there were no treatment-related hospitalizations. This profile compares favorably with the broader CAR T experience, where hospitalization for toxicity management remains common.
At the time of the interim analysis, 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. The Company believes participation from these centers, where most patients with LBCL are treated, supports the potential for cema-cel to be delivered beyond specialized academic institutions.
Approximately 80% of patients diagnosed with LBCL receive first-line treatment in the community setting, where autologous CAR T is not readily available. Despite strong clinical efficacy, access to autologous CAR T remains highly constrained, with only approximately 15% of eligible second-line patients receiving treatment.1 These well-documented barriers, including referral patterns, infrastructure requirements, management of adverse events, which requires hospitalization for a substantial portion of patients, and manufacturing constraints, underscore the need for a more accessible, scalable approach which ALPHA3 and cema-cel are designed to address.
MRD status post-treatment has emerged as a strong predictor of relapse in LBCL, creating a potential opportunity to intervene earlier in the course of disease, when disease burden is low, but the risk of progression remains high.2 3 Patients with LBCL who have completed curative-intent treatment in both front-line and later line settings, including autologous CAR T therapy, and achieve MRD-negative status have demonstrated improved progression-free survival (PFS) and EFS compared to those who do not.4 5
The study is currently enrolling across more than 60 sites in North America and is now expanding globally, with site activation and patient screening underway in South Korea and Australia, which will bring the trial to more than 80 sites worldwide. The study is expected to enroll approximately 220 patients, with enrollment anticipated to complete by the end of 2027. The study is powered to detect a 50% reduction in the risk of EFS events, which include the initiation of new anti-lymphoma therapy, disease progression, or death from any cause. The Company anticipates an interim EFS analysis in mid-2027 and the primary EFS analysis in mid-2028. If positive, these results could support a Biologics License Application (BLA) submission.
ALLO-329: Purpose-Built Allogeneic CAR T for Autoimmune Disease
ALLO-329 is a next-generation, dual-targeted CD19/CD70 AlloCAR T product incorporating the Company’s proprietary Dagger® technology. Dagger is designed to provide built-in, targeted lymphodepletion by selectively eliminating activated CD70-positive T cells responsible for rejecting AlloCAR T products. This approach is intended to enable robust expansion of allogeneic CAR T cells, while potentially reducing or eliminating the need for conventional cytotoxic lymphodepletion.
The ongoing Phase 1 RESOLUTION trial is a 3+3 dose-escalation study enrolling patients across multiple autoimmune indications, including systemic lupus erythematosus, scleroderma, and inflammatory myositis. The trial is evaluating ALLO-329 following lymphodepletion with cyclophosphamide, with an option to add fludarabine, and a separate arm with no lymphodepletion.
Nine patients have been treated, including six patients across Dose Level 1 (20 million cells) and Dose Level 2 (40 million cells) following lymphodepletion with cyclophosphamide, and three patients across Dose Level 1 (20 million cells) with no lymphodepletion since enrollment began in November 2025. Initial observations at these early low dose levels show signs of clinical activity and favorable tolerability. For context, other CAR T programs in autoimmune trials are evaluating substantially higher dose levels ranging from approximately 100 million cells (autologous) to over 1 billion cells (allogeneic).
Enrollment continues to progress, supported by a strong pool of eligible patients and robust investigator interest in the program. The next update is expected in Q4 2026.
2026 First Quarter Financial Results
•Research and development expenses were $32.0 million for the first quarter of 2026, which includes $2.7 million of non-cash stock-based compensation expense.
•General and administrative expenses were $14.1 million for the first quarter of 2026, which includes $5.6 million of non-cash stock-based compensation expense.
•Net loss for the first quarter of 2026 was $42.6 million, or $0.18 per share, including non-cash stock-based compensation expense of $8.3 million.
•The Company had $266.9 million in cash, cash equivalents, and investments as of March 31, 2026.
In April 2026, the Company completed a public offering which resulted in aggregate gross proceeds of $200.4 million, before deducting underwriting discounts and commissions and estimated offering expenses. As a result, the Company has extended its
1 Shadman, Liu, et al, ASH 2025
2 Kurtz, et.al. Circulating Tumor DNA Measurements as Early Outcome Predictors in Diffuse Large B-Cell Lymphoma, JCO 2018
3 Alig, et.al., Short Diagnosis-to-Treatment Interval Is Associated with Higher Circulating Tumor DNA Levels in Diffuse Large B-Cell Lymphoma, JCO 2021
4 Roschewski M, Kurtz D M, Westin J R, et al: Remission Assessment by Circulating Tumor DNA in Large B-Cell Lymphoma. JCO 10.1200/JCO-25-01534
5 Stepan, L., Ansari, S., Abramson, J. S., et al. Circulating tumor DNA assessment of disease response in large B-cell lymphoma: Lisocabtagene maraleucel versus autologous stem cell transplantation standard therapy. JCO 2026. https://doi.org/10.1200/JCO-25-03051
cash runway into the first quarter of 2029. Based upon our current forecast for the overall timing of the ALPHA3 program, we are modestly increasing our guidance for operating cash expense in 2026 from approximately $150 million to $165 million. GAAP Operating Expenses are also expected to modestly increase from approximately $210 million to $225 million, including estimated non-cash stock-based compensation expense of approximately $35 million. These estimates exclude any impact from potential business development activities.
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 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 potential to deliver allogeneic CAR T therapy in outpatient and community care settings and expand access across academic and community care settings; the potential to reduce or eliminate conventional lymphodepletion; expectations regarding clinical trial execution and operational performance; and expectations regarding Allogene’s financial position, cash runway, and 2026 operating outlook. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, but not limited to, risks and uncertainties inherent in clinical development (including that interim or early data may not be predictive of later or final results or clinical outcomes), patient enrollment and trial execution risks, uncertainties related to MRD testing and its clinical significance, the occurrence of adverse safety events, regulatory risks and uncertainties, manufacturing and CMC risks, reliance on third parties and licensors, competitive developments, intellectual property and contractual risks, and financial risks, including the need for additional capital. These and other risks and uncertainties are described more fully in Allogene’s filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, being filed with the SEC today. All forward-looking statements in this press release speak only as of the date of this press release, and Allogene undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
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 March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Operating expenses: | |||||||||||
| Research and development | $ | 32,003 | $ | 50,200 | |||||||
| General and administrative | 14,089 | 14,991 | |||||||||
| Total operating expenses | 46,092 | 65,191 | |||||||||
| Loss from operations | (46,092) | (65,191) | |||||||||
| Other income (expenses), net: | |||||||||||
| Interest and other income, net | 3,573 | 5,516 | |||||||||
| Interest expense | (300) | (150) | |||||||||
| Other income (expenses), net | 212 | 92 | |||||||||
| Total other income (expenses), net | 3,485 | 5,458 | |||||||||
| Net loss | $ | (42,607) | $ | (59,733) | |||||||
| Net loss per share, basic and diluted | $ | (0.18) | $ | (0.28) | |||||||
| Weighted-average number of shares used in computing net loss per share, basic and diluted | 240,290,782 | 215,358,619 | |||||||||
SELECTED BALANCE SHEET DATA
| As of March 31, 2026 | As of December 31, 2025 | ||||||||||
| Cash, cash equivalents and investments | $ | 266,886 | $ | 258,253 | |||||||
| Total assets | 395,958 | 415,905 | |||||||||
| Total liabilities | 117,083 | 123,363 | |||||||||
| Total stockholders’ equity | 278,875 | 292,542 | |||||||||
Allogene Media/Investor Contact:
Christine Cassiano
EVP, Chief Corporate Affairs & Brand Strategy Officer
Christine.Cassiano@allogene.com
FAQ
What key change did Allogene Therapeutics (ALLO) make to its Overland license?
Allogene terminated its exclusive license agreement with Overland covering four CAR T targets in parts of Asia. No termination payments were made, and Allogene expects to retain about 3% of Overland’s equity under a revised shareholders’ agreement.
How did Allogene Therapeutics (ALLO) perform financially in Q1 2026?
Allogene reported a Q1 2026 net loss of $42.6 million, or $0.18 per share. Research and development expenses were $32.0 million and general and administrative expenses were $14.1 million, reflecting continued investment in its AlloCAR T clinical pipeline.
What were the ALPHA3 trial interim MRD results for Allogene’s cema-cel?
In the ALPHA3 Phase 2 trial, 58.3% (7/12) of patients receiving cema-cel achieved MRD clearance versus 16.7% (2/12) on observation. Cema-cel showed a favorable safety profile with no CRS, ICANS, GvHD, treatment-related serious adverse events, or treatment-related hospitalizations.
How much liquidity does Allogene Therapeutics (ALLO) have and how long is its cash runway?
Allogene ended March 31, 2026 with $266.9 million in cash, cash equivalents and investments. An April 2026 public offering added $200.4 million in gross proceeds, and management now expects this cash runway to extend into the first quarter of 2029.
What progress has Allogene reported for its ALLO-329 RESOLUTION autoimmune trial?
Nine patients have been treated in the Phase 1 RESOLUTION trial of ALLO-329 across multiple autoimmune conditions. Early observations at low dose levels show signs of clinical activity and favorable tolerability. Dose escalation and lymphodepletion optimization are ongoing, with the next update expected in Q4 2026.
What operating expense guidance did Allogene Therapeutics (ALLO) provide for 2026?
Allogene now expects 2026 operating cash expenses of approximately $165 million. GAAP operating expenses are projected at about $225 million, including an estimated $35 million of non-cash stock-based compensation, reflecting updated assumptions for the timing of the ALPHA3 program.