Allogene Q1 2024 Earnings Report
Key Takeaways
Allogene Therapeutics reported a net loss of $65.0 million for the first quarter of 2024 and ended the quarter with $397.3 million in cash, cash equivalents and investments. The company expects its cash runway to fund operations into 2026.
Expanded CD19 oncology rights to include all EU Member States and the United Kingdom, reinforcing company’s conviction in the unique opportunity in LBCL and R/R CLL.
Pivotal Phase 2 ALPHA3 1L Consolidation LBCL Trial Expected to Begin Mid-2024.
Initial Data from Phase 1 R/R CLL Trial Expected by YE 2024.
Ended Q1 2024 with $397.3 Million in Cash, Cash Equivalents and Investments; Cash Runway Projection into 2026.
Allogene
Allogene
Forward Guidance
Allogene expects a decrease in cash, cash equivalents, and investments of approximately $200 million in 2024. GAAP Operating Expenses are expected to be approximately $300 million, including estimated non-cash stock-based compensation expense of approximately $60 million.