Baird ‘encouraged’ by Allogene CAR-T therapy update

Baird says Allogene Therapeutics’s (ALLO) cemacabtagene ansegedleucel data update is positive. The firm is “quite encouraged” by the update, believing the data continue to support the “differentiated durability” of Allogene’s approach to allogeneic CAR-T therapy. The results serve as a positive indication that cema-cel may be able to meaningfully improve outcomes by treating low disease burden patients in the front-line consolidation setting in ALPHA3, the analyst tells investors in a research note. Baird has an Outperform rating on the shares. The stock in midday trading is up 34%, or 69c, to $2.73