Loading...
•
Jun 30, 2023
Allogene Q2 2023 Earnings Report
Allogene reported financial results for the second quarter of 2023 and provided a corporate update.
Key Takeaways
Allogene Therapeutics reported a net loss of $78.0 million for Q2 2023 and ended the quarter with $544.5 million in cash, cash equivalents and investments. The company is advancing its allogeneic CAR T clinical trials, with enrollment ongoing in the ALPHA2 and EXPAND Phase 2 trials in LBCL. The cash runway is projected to extend into 2H 2025.
Presented Long-Term Data for an Allogeneic CD19 CAR T Product Candidate in Relapsed/Refractory Large B Cell Lymphoma (LBCL) at ASCO and ICML.
ALLO-501/501A Demonstrated Rates of Durable Complete Responses Similar to Approved Autologous CAR T Therapies.
Enrollment Ongoing in the ALLO-501A ALPHA2 and EXPAND Phase 2 Trials in LBCL; ALPHA2 Trial Expected to Complete Enrollment in 1H 2024 with the First Data Readout Planned by Year-End 2024.
Ended Q2 2023 with $545 Million in Cash, Cash Equivalents and Investments; Cash Runway Now Projected to Extend into 2H 2025.
Forward Guidance
Allogene expects a decrease in cash, cash equivalents, and investments of approximately $230 million in 2023. GAAP Operating Expenses are expected to be approximately $340 million, including estimated non-cash stock-based compensation expense of approximately $80 million. These estimates exclude any impact from potential business development activities.
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...