Allogene Therapeutics Inc. · Q4 2021 earnings

Briefing

Allogene reported financial results, resumed AlloCAR T studies, and presented phase 1 data at ASH 2021.

Allogene Therapeutics reported a net loss of $74.9 million for the fourth quarter of 2021. Clinical trials have resumed following the removal of the FDA clinical hold in January 2022. The company ended the year with $810 million in cash, cash equivalents and investments.

• AlloCAR T studies have resumed, and patients are currently being enrolled following the removal of the clinical hold in January 2022.
• Phase 1 data from the ALPHA trials in relapsed/refractory non-Hodgkin lymphoma presented at ASH 2021 demonstrated the potential for AlloCAR T to be a safe and durable alternative to autologous cell therapy in CAR T naïve patients.
• The pivotal Phase 2 ALPHA2 trial of ALLO-501A in R/R Large B Cell Lymphoma is on track to commence mid-year 2022, pending ongoing FDA discussions.
• Phase 1 data presented at ASH 2021 from the ALLO-715 UNIVERSAL trial in R/R Multiple Myeloma demonstrated the potential for an allogeneic anti-BCMA CAR T to achieve responses similar to approved autologous CAR T therapy.

Headline financials

Revenue & EPS history

Allogene expects full year GAAP Operating Expenses to be between $360 million and $390 million including estimated non-cash stock-based compensation expense of $90 million to $100 million and excluding any impact from potential business development activities.