Allogene Therapeutics, Inc. - ALLO STOCK NEWS

Allogene Therapeutics (Nasdaq: ALLO) presented preclinical findings indicating that allogeneic CAR T cells derived from younger, healthy donors exhibit significantly improved fitness and anti-tumor potential compared to those from older donors and cancer patients. This research suggests such cells could mitigate manufacturing failures common in autologous therapies. The study was shared at the 2022 ASGCT Annual Meeting, emphasizing the promise of developing reliable, off-the-shelf CAR T therapies.

Allogene Therapeutics, Inc. (Nasdaq: ALLO) has been ranked as the top biotechnology company on the 2022 Best Places to Work list by the San Francisco Business Times and the Silicon Valley Business Journal. This recognition is based on employee surveys evaluating engagement, communication, and team dynamics among other factors, highlighting a strong workplace culture. CEO David Chang emphasized the importance of employee feedback in achieving this accolade. Allogene, which focuses on developing allogeneic CAR T therapies, actively seeks to expand its workforce.

Allogene Therapeutics (NASDAQ: ALLO) updated its corporate progress and financial results for Q1 2022, reporting a net loss of $79.9 million, or $0.56 per share, with cash reserves of $733 million as of March 31, 2022. The pivotal Phase 2 ALPHA2 trial for ALLO-501A in relapsed/refractory large B-cell lymphoma is anticipated to commence mid-2022, supported by the newly operational Cell Forge 1 manufacturing facility, capable of producing approximately 20,000 doses annually. The company also received FDA Orphan Drug Designation for ALLO-605, its first TurboCAR product candidate for multiple myeloma.

Allogene Therapeutics has appointed Susan Lundeen as the new Chief People Officer, effective May 2, 2022, in a role designed to enhance their human resources strategy as the company prepares for pivotal trials and expands its AlloCAR T pipeline. Lundeen brings extensive experience from previous roles at Unity Biotechnology and Kythera Biopharmaceuticals. Allogene, a leader in allogeneic cell therapy, currently employs over 320 staff and aims to foster a competitive and inclusive workforce to drive its growth trajectory in cancer treatment.

Allogene Therapeutics (Nasdaq: ALLO) will announce its first-quarter 2022 financial results on May 4, 2022, after market close. Following the announcement, a live audio webcast and conference call will take place at 2:00 PM PT/5:00 PM ET. The webcast can be accessed on the company’s website under the Investors tab, with a replay available for 30 days. Allogene focuses on developing allogeneic CAR T products for cancer treatment, aiming to provide accessible and reliable therapies.

Allogene Therapeutics has received orphan-drug designation from the FDA for ALLO-605, a next-generation AlloCAR T product targeting BCMA for multiple myeloma treatment. This designation follows the Fast Track designation granted in Q2 2021, highlighting ALLO-605's potential to meet unmet medical needs for patients with relapsed/refractory multiple myeloma. The Phase 1 IGNITE trial is currently ongoing, with clinical updates expected by late 2022. The orphan-drug designation includes development incentives like tax credits and user fee exemptions, facilitating the pathway towards FDA approval.

Allogene Therapeutics has unveiled its new 136,000-square-foot cGMP manufacturing facility, Cell Forge 1, in Newark, California. The facility is operational and prepares for the pivotal trial of ALLO-501A targeting relapsed/refractory Non-Hodgkin Lymphoma. Designed for flexibility, it supports clinical trials and potential commercial production of AlloCAR T™ products. The facility prioritizes sustainability, fully powered by renewable energy, aiming for LEED Gold certification. This initiative is significant as Allogene expands its pipeline and regulatory filings while enhancing manufacturing capabilities.

Allogene Therapeutics (ALLO) announced promising preclinical results for its AlloCAR T therapy, ALLO-316, targeting CD70 to treat renal cell carcinoma (RCC) and other malignancies. Presented at the AACR Annual Meeting, these findings highlight the therapy's potential to address the unmet needs of RCC patients, with a 5-year survival rate below 15%. The FDA granted Fast Track Designation for ALLO-316 in March 2022, supporting its Phase 1 TRAVERSE trial aimed at evaluating safety and efficacy. ALLO-316 demonstrates low off-target binding and effective anti-tumor activity in studies.

Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology firm, announced its participation in seven investor conferences throughout April to June 2022. Key events include the Canaccord Genuity Horizons in Oncology Virtual Conference on April 14, BofA Securities Healthcare Conference on May 10, and the Stifel Virtual Cell Therapy Conference on June 30. Webcasts for these events will be available on their website, with replays accessible for 30 days. Allogene focuses on developing allogeneic CAR T products aiming to provide effective cancer treatments to patients.