Allogene Therapeutics, Inc. - ALLO STOCK NEWS

Allogene Therapeutics (ALLO) reported a net loss of $33 million for Q1 2021, translating to $0.25 per share. With $964 million in cash and investments, the company is positioned for growth. Key clinical updates include the ALLO-501 and ALLO-501A studies to be presented at ASCO, while ALLO-715 received RMAT designation for multiple myeloma treatment. ALLO-605's IND application was cleared by the FDA, and the TRAVERSE trial for ALLO-316 is now underway. The company anticipates full-year operating expenses between $300 million and $330 million.

Allogene Therapeutics (Nasdaq: ALLO) announced the presentation of longer-term data from its Phase 1 ALPHA study on ALLO-501 in relapsed/refractory non-Hodgkin lymphoma, alongside initial findings from the Phase 1 ALLO-501A ALPHA2 study. This presentation will take place during the virtual 2021 ASCO Annual Meeting from June 4-9, 2021. ALLO-501A aims for a pivotal Phase 2 trial and has received FDA Fast Track Designation for DLBCL. Additionally, safety data for ALLO-647 will be presented, further advancing Allogene's AlloCAR T™ platform in cancer treatment.

Allogene Therapeutics is set to release its first quarter 2021 financial results on May 5, 2021, after market close. Following this, a live audio webcast and conference call will take place at 2:00 PM PT (5:00 PM ET). The company specializes in developing allogeneic CAR T therapies for cancer, aiming to provide scalable, accessible treatments. The webcast will be available on their website, www.allogene.com, with a replay option for 30 days. The release includes cautionary forward-looking statements regarding company projections and financial reporting.

Allogene Therapeutics, Inc. (Nasdaq: ALLO) announced that the FDA granted RMAT designation for ALLO-715, a treatment for relapsed/refractory multiple myeloma. This designation is based on initial clinical data from the UNIVERSAL trial, which showed that ALLO-715 can achieve significant clinical responses without the need for bridging therapy or manufacturing delays. The RMAT designation aims to expedite the development of promising therapies addressing unmet medical needs. Allogene aims to complete the UNIVERSAL study and work closely with the FDA for further advancement.

Allogene Therapeutics announced FDA clearance for an IND application to study ALLO-605 targeting relapsed/refractory multiple myeloma. This marks the initiation of the Phase I IGNITE trial, expected to start in mid-2021, which will assess escalating doses of ALLO-605. This therapy incorporates the proprietary TurboCAR technology designed to enhance T cell function and potency. ALLO-605 is part of a broader strategy targeting BCMA in treating multiple myeloma, complementing ongoing trials with other candidates including ALLO-715 and ALLO-647.

Allogene Therapeutics (Nasdaq: ALLO) and SpringWorks Therapeutics (Nasdaq: SWTX) have initiated a Phase 1 trial for ALLO-715, an investigational anti-B-cell maturation antigen (BCMA) AlloCAR T therapy, combined with SpringWorks’ nirogacestat, in patients with relapsed or refractory multiple myeloma. The trial aims to evaluate safety, tolerability, and preliminary efficacy. This is the first clinical study of its kind and represents a significant step in addressing the limited options for patients with this incurable cancer. Allogene is sponsoring the trial as part of its UNIVERSAL study.

Allogene Therapeutics (Nasdaq: ALLO) recently showcased preclinical data at the AACR Annual Meeting, revealing that its TurboCAR™ technology platform can enhance treatment efficacy for solid tumors by selectively activating cytokine signaling in CAR T cells. New TurboCAR constructs respond to PDL1/2, enabling them to overcome immunosuppressive challenges in the tumor microenvironment. This advancement could broaden the applicability of AlloCAR T™ therapies, positioning Allogene as a leader in both hematologic and solid tumor treatments.

Allogene Therapeutics, Inc. (Nasdaq: ALLO) reported significant updates during the recent ASH meeting, showcasing initial data from its ALLO-715 AlloCAR T therapy for relapsed/refractory multiple myeloma. The Phase 1 UNIVERSAL trial demonstrated a 60% overall response rate with 40% achieving a very good partial response. The company ended 2020 with $1 billion in cash and plans to submit multiple IND applications in 2021. Financial guidance predicts operating expenses between $300 million and $330 million, reflecting continued investment in innovative CAR T therapies.

Allogene Therapeutics (Nasdaq: ALLO) plans to report its fourth quarter and full year 2020 financial results on February 25, 2021, after market close. A live audio webcast and conference call will follow at 2:00 PM PT/5:00 PM ET. Investors can access the webcast on the company's website. Allogene focuses on developing allogeneic CAR T therapies to provide more accessible cancer treatments. The press release emphasizes the company's commitment to delivering 'off-the-shelf' therapies at scale.