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Sep 30, 2024
Allogene Q3 2024 Earnings Report
Reported financial results and provided corporate updates.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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