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Sep 30, 2020
Allogene Q3 2020 Earnings Report
Reported financial results for the third quarter of 2020 and provided a corporate update.
Key Takeaways
Allogene Therapeutics reported its third quarter financial results, highlighting the advancement of its AlloCAR T pipeline and upcoming data presentations. The company ended the quarter with $1.0 billion in cash, cash equivalents, and investments.
Enrollment is ongoing in Phase 1 trials of ALLO-501 (ALPHA), ALLO-501A (ALPHA2) and ALLO-715 (UNIVERSAL).
Initial Phase 1 results from the UNIVERSAL Trial in Relapsed/Refractory Multiple Myeloma will be presented at a medical meeting in Q4 2020.
Initial ALLO-501A data and updated ALLO-501 results in Non-Hodgkin Lymphoma are planned in 1H 2021, in preparation for a potential pivotal study initiation of ALLO-501A in 2021.
The company ended the third quarter with $1.0 billion in cash, cash equivalents and investments.
Forward Guidance
Allogene expects 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.
Historical Earnings Impact
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