Allogene Q3 2024 Earnings Report
Key Takeaways
Allogene Therapeutics reported its Q3 2024 financial results, highlighting the progress of its allogeneic cell products, including cema-cel, ALLO-316, and ALLO-329. The company ended the quarter with $403.4 million in cash, cash equivalents, and investments, projecting a cash runway into the second half of 2026.
Pivotal Phase 2 ALPHA3 trial for Cema-Cel is continuing with site activation and patient screening/enrollment.
Pre-clinical data for ALLO-329 in autoimmune disease will be presented at the American College of Rheumatology (ACR) Convergence.
Positive Phase 1 data for ALLO-316 in pretreated patients with advanced renal cell carcinoma was presented at SITC and IKCS.
The company ended Q3 2024 with $403.4 million in cash, cash equivalents, and investments; cash runway continues to be projected into 2H 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. These estimates exclude any impact from potential business development activities.