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Allogene Therapeutics ( (ALLO) ) has issued an update.
On April 13 and 14, 2026, Allogene Therapeutics launched and priced an underwritten public offering of 87,500,000 shares of common stock at $2.00 per share, targeting gross proceeds of about $175 million before fees and expenses. The deal, led by Goldman Sachs & Co. LLC, Jefferies LLC and TD Securities (USA) LLC, includes a 30-day option for underwriters to buy up to 13,125,000 additional shares, with closing expected on April 16, 2026, subject to customary conditions.
Allogene plans to deploy the net proceeds for general corporate purposes, including funding clinical trials, research and development, administrative costs and capital expenditures. The sizeable equity raise underscores the company’s continued reliance on capital markets to finance its AlloCAR T pipeline and could dilute existing shareholders while strengthening its balance sheet to advance late-stage programs in a competitive cell therapy landscape.
The most recent analyst rating on (ALLO) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Allogene Therapeutics stock, see the ALLO Stock Forecast page.
Spark’s Take on ALLO Stock
According to Spark, TipRanks’ AI Analyst, ALLO is a Neutral.
The score is constrained primarily by weak financial performance (minimal revenue, ongoing large losses, and sustained cash burn). Offsetting this are encouraging clinical progress signals—reinforced by positive interim ALPHA-3 MRD data and upcoming catalysts—while technicals are neutral-to-mixed and valuation provides limited support due to negative earnings and no dividend.
To see Spark’s full report on ALLO stock, click here.
More about Allogene Therapeutics
Allogene Therapeutics, Inc., based in South San Francisco, is a clinical-stage biotechnology company developing allogeneic chimeric antigen receptor T cell (AlloCAR T) therapies for cancer and autoimmune diseases. The company focuses on off-the-shelf CAR T cell product candidates designed to provide on-demand, scalable cell therapy access to a broader patient population.
Average Trading Volume: 7,833,203
Technical Sentiment Signal: Buy
Current Market Cap: $746M
Learn more about ALLO stock on TipRanks’ Stock Analysis page.