Allogene Therapeutics data from ALPHA3 trial a ‘home run,’ says TD Cowen

TD Cowen notes Allogene Therapeutics (ALLO) reported data from the planned interim futility analysis of its randomized Phase 2 ALPHA3 trial in first-line consolidation large B-cell lymphoma, including a 41.6% absolute difference in MRD clearance between the two arms. This “comfortably” exceeds the 25%-plus bar and increases the firm’s confidence in the study’s ability to show a 50% statistically significant EFS benefit, says the analyst, who calls the data a “home run.” The firm keeps a Buy rating on Allogene shares, which are up $1.63, or 60%, to $4.35 in pre-market trading.