Allogene Q4 2019 Earnings Report
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.
Allogene
Allogene
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.