Loading...
•
Jun 30, 2022
Allogene Q2 2022 Earnings Report
Reported financial results for the second quarter of 2022 and provided a corporate update.
Key Takeaways
Allogene Therapeutics reported its second quarter financial results, highlighting the anticipated U.S. FDA clearance for a potential pivotal Phase 2 trial of ALLO-501A and the operational status of its commercial-scale manufacturing facility, Cell Forge 1 (CF1). The company ended the quarter with $686 million in cash, cash equivalents, and investments.
U.S. FDA clearance on potential pivotal Phase 2 trial of ALLO-501A anticipated in coming weeks.
Cell Forge 1 (CF1) is projected to support the manufacture of ~20,000 doses of AlloCAR T™ products annually at scale.
Company plans to evaluate potential Phase 2 pivotal study approach and timing for BCMA Program for Multiple Myeloma by Year End.
Ended Second Quarter with $686 Million in Cash, Cash Equivalents and Investments.
Forward Guidance
Allogene anticipates spending to increase in the second half relative to the first half of 2022 and now expects full year GAAP Operating Expenses to be at the low end of the previous range of $360 million and $390 million. Cash burn for 2022 is now expected to be approximately $250 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...