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Dec 31, 2019
Allogene Q4 2019 Earnings Report
Allogene's financial performance for Q4 2019 reflected increased research and development expenses due to collaboration with Notch Therapeutics, alongside higher general and administrative costs, resulting in a net loss.
Key Takeaways
Allogene Therapeutics reported fourth-quarter financial results, including cash, cash equivalents, and investments of $588.9 million. Research and development expenses were $49.4 million, and general and administrative expenses were $15.2 million. The net loss for the quarter was $61.0 million, or $0.58 per share.
Ended 2019 with $589 million in cash, cash equivalents and investments.
Initial data from the Phase 1 ALLO-501 ALPHA trial and Phase 1 ALLO-715 UNIVERSAL trial are on track for Q2 2020 and Q4 2020, respectively.
ALLO-501A received IND clearance from the U.S. FDA and expects to initiate an abbreviated Phase 1 trial in Q2 2020.
Combination trial of ALLO-715 and SpringWorks Therapeutics’ Nirogacestat is expected to commence in the second half of 2020.
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.
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