Allogene Therapeutics, Inc. - ALLO STOCK NEWS

Notch Therapeutics has appointed David Main as President and CEO, enhancing its leadership to drive the development of innovative, off-the-shelf T cell therapies from stem cells. Main brings over 30 years of biopharmaceutical experience, previously leading Aquinox Pharmaceuticals through successful phases of development and public listing. Notch's advanced Engineered Thymic Niche (ETN) technology aims to create universal T cell therapies, and the company is currently partnered with Allogene Therapeutics (NASDAQ: ALLO) to focus on CAR-targeted therapies for hematologic cancers.

Allogene Therapeutics (Nasdaq: ALLO) announced that Dr. Ton Schumacher, Principal Investigator at the Netherlands Cancer Institute and chair of its Scientific Advisory Board, received the prestigious Stevin Prize for his research in cancer immunotherapy. This award, worth 2.5 million euros, recognizes impactful scientific contributions and will fund further research into predicting T cell responses to cancer antigens. Dr. Schumacher's work is pivotal in advancing AlloCAR T™ therapies aimed at transforming cancer treatment. His recognition enhances Allogene's reputation and leadership in the field.

Allogene Therapeutics (Nasdaq: ALLO) announced preclinical findings on DLL3-targeted AlloCAR T therapy for small cell lung cancer (SCLC) and its iTurboCAR technology at the AACR annual meeting. These studies provide scientific support for the AlloCAR and TurboCAR platforms. Findings indicated engineered T cells targeting DLL3 exhibited long-term efficacy without causing brain damage. Additionally, the iTurboCAR technology allows controlled cytokine activation, enhancing CAR T cell potency. Both innovations underline Allogene's commitment to advancing allogeneic cell therapies.

Allogene Therapeutics (Nasdaq: ALLO) announced promising preclinical results for its investigational AlloCAR T therapy, ALLO-819, targeting FLT3 for acute myeloid leukemia (AML). The study, published in Molecular Therapy, demonstrated significant anti-leukemic activity without off-target effects. ALLO-819 employs engineered healthy donor T lymphocytes and includes a safety mechanism. The therapy aims to offer a novel treatment option for AML patients, who often face poor prognoses and limited treatments. Allogene holds global rights for ALLO-819, developed in collaboration with Cellectis and Pfizer.

Allogene Therapeutics (Nasdaq: ALLO) announced a public offering of 11,702,128 shares at $47.00 each, expected to raise approximately $550 million before expenses. The offering is set to close around June 4, 2020, pending standard conditions. The underwriters have a 30-day option for an additional 1,755,319 shares. The offering is conducted under a shelf registration filed with the SEC. Allogene focuses on developing allogeneic CAR T cell therapies for cancer.

Allogene Therapeutics (Nasdaq: ALLO) has announced a public offering of $450 million in common stock, with a potential additional $67.5 million in shares through underwriters' options. The offering is contingent upon market conditions and there is no guarantee of completion or specific terms. Goldman Sachs, Jefferies, and Cowen are managing the offering. This is part of a shelf registration that became effective on November 5, 2019. The funds raised are intended to support the development of AlloCAR T™ therapies, a novel approach to cancer treatment.

Allogene Therapeutics, Inc. (Nasdaq: ALLO) will present initial results from the ALLO-501 ALPHA Phase 1 trial in relapsed/refractory non-Hodgkin lymphoma on May 29, 2020, at 5:30 AM PT/8:30 AM ET via a live webinar. The webinar will feature key executives including CEO David Chang and Chief Medical Officer Rafael Amado, alongside Sattva Neelapu from MD Anderson Cancer Center. Attendees can register on the Allogene website. Allogene focuses on developing allogeneic CAR T therapies aimed at providing off-the-shelf cancer treatment solutions.

Allogene Therapeutics (NASDAQ: ALLO) provided a corporate update and reported its Q1 2020 financial results. The company ended the quarter with $553 million in cash and investments. The Phase 1 ALPHA trial for ALLO-501 in non-Hodgkin lymphoma is set for oral presentation at the ASCO meeting on May 29, 2020, while ALLO-715 for multiple myeloma is on track for initial data release in Q4 2020. The company's financial guidance for 2020 anticipates net losses between $260 million and $280 million.