Allogene Therapeutics ( (ALLO) ) has released its Q4 earnings. Here is a breakdown of the information Allogene Therapeutics presented to its investors.
Allogene Therapeutics, a clinical-stage biotechnology company based in South San Francisco, focuses on developing allogeneic CAR T cell therapies for cancer and autoimmune diseases. The company is recognized for its ‘off-the-shelf’ cell therapy approach, aiming to provide accessible and scalable treatments.
In its latest earnings report, Allogene Therapeutics highlighted significant progress in its clinical programs and financial performance for the fourth quarter and full year of 2024. The company reported advancements in its key trials, including the pivotal Phase 2 ALPHA3 trial for LBCL and the FDA clearance for the ALLO-329 trial in autoimmune diseases.
Key financial metrics revealed a net loss of $59.9 million for Q4 2024, with research and development expenses totaling $45 million. The company ended the year with $373.1 million in cash, cash equivalents, and investments, projecting a cash runway into the second half of 2026. Strategic developments included the completion of the Phase 1b cohort for ALLO-316 in RCC and the receipt of RMAT designation for this therapy.
Looking forward, Allogene Therapeutics anticipates 2025 to be a pivotal year, with expectations for data milestones and trial initiations. The company remains focused on demonstrating the potential of allogeneic CAR T therapies to surpass traditional autologous CAR T treatments by increasing patient accessibility and treatment efficacy.