Allogene Q1 2022 Earnings Report
Key Takeaways
Allogene Therapeutics reported a net loss of $79.9 million for the first quarter of 2022 and ended the quarter with $733.1 million in cash, cash equivalents, and investments. The company is progressing with its pipeline, including the planned initiation of the pivotal Phase 2 ALPHA2 trial of ALLO-501A in R/R Large B Cell Lymphoma in mid-2022.
Pivotal Phase 2 ALPHA2 Trial of ALLO-501A in R/R Large B Cell Lymphoma planned to commence mid 2022 using product from Cell Forge 1 (CF1).
CF1 is projected to support the manufacture of ~20,000 doses of AlloCAR Tâ„¢ products annually at scale.
Received FDA Orphan Drug Designation (ODD) for ALLO-605, the First TurboCARâ„¢ T Cell Product Candidate for the Treatment of Multiple Myeloma.
Ended First Quarter with $733 Million in Cash, Cash Equivalents and Investments.
Allogene
Allogene
Forward Guidance
Allogene continues to expect full year GAAP Operating Expenses to be between $360 million and $390 million including estimated non-cash stock-based compensation expense of $90 million to $100 million and excluding any impact from potential business development activities.