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Jun 30, 2020
Allogene Q2 2020 Earnings Report
Reported financial results for the second quarter of 2020 and provided a corporate update.
Key Takeaways
Allogene Therapeutics reported positive initial Phase 1 results from the ALLO-501 ALPHA Trial, initiated the Phase 1 portion of the ALPHA2 Trial for ALLO-501A, and completed the initial dose escalation portion of the Phase 1 ALLO-715 UNIVERSAL Trial. The company ended the quarter with $1.1 billion in cash, cash equivalents, and investments.
Initial Phase 1 Results from the ALLO-501 ALPHA Trial at ASCO Demonstrated an Overall Response Rate of 75% and Complete Response Rate of 44% in CAR T Naïve Relapsed/Refractory Non-Hodgkin Lymphoma Patients
In the ALPHA Trial, Higher Dose ALLO-647 was Associated with Deeper Lymphodepletion, Delayed Host T Cell Recovery and a Higher Complete Response Rate
Initiated Phase 1 Portion of ALPHA2 Trial for ALLO-501A, a Next-Generation anti-CD19 AlloCAR T™ Intended for Phase 2 Development
Ended Second Quarter with $1.1 Billion in Cash, Cash Equivalents and Investments
Forward Guidance
Allogene continues to expect full year GAAP net losses to be between $260 million and $280 million including estimated non-cash stock-based compensation expense of $70 million to $75 million and excluding any impact from potential business development activities.
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