Allogene Therapeutics (NASDAQ:ALLO) Announces Earnings Results, Meets Expectations

Key Points

• Allogene reported quarterly EPS of ($0.15), matching analyst expectations.
• Management cited encouraging early ALPHA3 findings, including rapid MRD clearance and feasibility at community sites, and remains on track to complete enrollment by the end of 2027. However, the planned mid-2027 event-free-survival review may not lead to an unblinded or positive result.
• For early-stage ALLO-329, the company reported no high-grade toxicities or IEC-HS cases to date and is assessing whether it can work with reduced or no chemotherapy-based lymphodepletion.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) released its earnings results on Thursday. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15), FiscalAI reports.

Here are the key takeaways from Allogene Therapeutics' conference call:

• Allogene said ALPHA3 showed encouraging rapid MRD clearance, an early favorable safety profile, and feasibility at community practices, including sites without prior CAR-T experience. Management reported stronger screening and enrollment activity, and remains on track to complete enrollment by the end of 2027.
• The planned mid-2027 ALPHA3 look at event-free survival is not guaranteed to produce an unblinded or positive result: management emphasized that the data safety monitoring board will decide whether to continue the trial, and that the interim analysis has only a small allocation of statistical alpha.
• For ALLO-329, management reported no high-grade toxicities or cases of IEC-HS to date and said expanded data would cover multiple dose levels and conditioning approaches. The company is evaluating whether the therapy can deliver activity with reduced or no chemotherapy-based lymphodepletion; the program remains early-stage.
• Allogene said scleroderma has become the most active enrollment pathway for ALLO-329, while the RESOLUTION trial remains open to lupus and myositis patients. CFO Geoff Parker is retiring, and the company said its CFO search is ongoing, with finance operations overseen by SVP Annie Yoshiyama in the interim.

Allogene Therapeutics Price Performance

NASDAQ ALLO traded down $0.10 during mid-day trading on Thursday, hitting $1.09. The company's stock had a trading volume of 15,276,890 shares, compared to its average volume of 8,864,196. The firm has a market capitalization of $376.58 million, a P/E ratio of -1.63 and a beta of 0.76. Allogene Therapeutics has a 52-week low of $1.04 and a 52-week high of $4.46. The stock's fifty day simple moving average is $1.54 and its two-hundred day simple moving average is $1.96.

Analyst Upgrades and Downgrades

ALLO has been the topic of several recent analyst reports. Citizens Jmp reiterated a "market outperform" rating and set a $6.00 price objective on shares of Allogene Therapeutics in a report on Monday, August 17th. Weiss Ratings upgraded shares of Allogene Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, October 21st. Finally, William Blair raised shares of Allogene Therapeutics to a "strong-buy" rating in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $8.30.

Insider Activity at Allogene Therapeutics

In other news, SVP Earl Douglas sold 29,697 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $2.12, for a total value of $62,957.64. Following the transaction, the senior vice president owned 488,267 shares of the company's stock, valued at approximately $1,035,126.04. This trade represents a 5.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Geoffrey Parker sold 36,342 shares of the company's stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $1.34, for a total transaction of $48,698.28. Following the sale, the chief financial officer directly owned 1,045,877 shares of the company's stock, valued at approximately $1,401,475.18. This trade represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is owned by insiders.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” CAR T cell therapies for cancer. Unlike conventional autologous CAR T treatments, which are manufactured from an individual patient's own cells, Allogene's approach uses healthy donor cells that can potentially be produced in advance and administered more quickly.

The company's investigational pipeline has included cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A) for certain patients with large B-cell lymphoma, as well as other allogeneic CAR T candidates being studied in blood cancers such as multiple myeloma and in solid tumors, including renal cell carcinoma.

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