Full Press Release Details
Allogene Therapeutics Reports First Quarter 2019 Financial Results
South San Francisco, Calif., May 7, 2019 Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the
development of allogeneic CAR T (AlloCAR T ) therapies for cancer, today provided a corporate update and reported financial results for the quarter ended March 31, 2019.
We are very pleased with our ability to accelerate the research and development activities for both ALLO-501 and
ALLO-715, said David Chang, M.D., Ph.D., President, Chief Executive Officer and Co-Founder of Allogene. Our focus from day one has been on the acceleration
of AlloCAR T therapy to enable an off-the-shelf CAR T therapy for patients. In May 2018, we started Allogene with approximately 40 employees. Today, we have
over 150 employees, all dedicated to making AlloCAR T therapy a reality.
ALLO-501 (anti-CD19 AlloCAR T)
(anti-BCMA AlloCAR T)
Additional Pipeline Updates
In May, the Company announced the expansion of
its Scientific Advisory Board (SAB) with the appointment of Robert Abraham, Ph.D., Malcolm K. Brenner, M.D., Ph.D., Stephen J. Forman, M.D., and Wendell Lim, Ph.D.
First Quarter Financial Results
Conference Call and Webcast Details
Allogene will host a
live conference call and webcast today at 5:30 AM Pacific Time/8:30 AM Eastern Time to discuss financial results and provide a business update. To access the live conference call by telephone, please dial 1 (866)
940-5062 (U.S.) or 1 (409) 216-0618 (International). The conference ID number for the live call is 6179933. The webcast will be made available on the Company s
website at www.allogene.com under the Investors tab in the News and Events section. Following the live audio webcast, a replay will be available on the Company s website for approximately 30 days.
About Allogene Therapeutics
Allogene Therapeutics, with
headquarters in South San Francisco, is a clinical-stage biotechnology company pioneering the development of allogeneic chimeric antigen receptor T cell (AlloCAR T ) therapies
for cancer. Led by a world-class management team with significant experience in cell therapy, Allogene is developing a pipeline of off-the-shelf CAR T
cell therapy candidates with the goal of delivering readily available cell therapy on-demand, more reliably, and at greater scale to more patients. For
more information, please visit www.allogene.com, and follow @AllogeneTx on Twitter and LinkedIn.
Cautionary Note on Forward-Looking
This press release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The press release may, in some cases, use terms such as predicts, believes, potential, proposed, continue, estimates, anticipates,
expects, plans, intends, may, could, might, will, should or other words that convey uncertainty of future events or outcomes to identify these
forward-looking statements. Forward-looking statements include statements regarding intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the timing and ability to progress the ALLO-501 ALPHA trial, the timing and ability to report initial clinical results from the ALPHA trial, the ability to introduce the second generation of ALLO-501 prior to the
start of the Phase 2 portion of the ALPHA trial, the timing and ability to initiate and progress a clinical trial of ALLO-715, Servier s ability to re-initiate
enrollment in the CALM and PALL trials, the timing and ability to progress the CALM and PALL trials to potential registrational trials, the ability to manufacture AlloCAR T therapies, the
ability to initiate and progress additional clinical trials of AlloCAR T therapies, the potential benefits of AlloCAR T therapy and
the 2019 financial guidance. Various factors may cause differences between Allogene s expectations and actual results as discussed in greater detail in Allogene s filings with the Securities and Exchange Commission (SEC), including without
limitation in its Form 10-K for the year ended December 31, 2018. Any forward-looking statements that are made in this press release speak only as of the date of this press release. Allogene assumes no
obligation to update the forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
ALLOGENE THERAPEUTICS, INC.
SELECTED FINANCIAL DATA
(unaudited; in thousands, except
share and per share data)
STATEMENTS OF OPERATIONS
| Three Months Ended March 31, | ||||||||
| 2019 | 2018 | |||||||
| Operating expenses: | ||||||||
| Research and development | $ | 23,403 | $ | |||||
| General and administrative | 13,058 | 2,597 | ||||||
| Total operating expenses | 36,461 | 2,597 | ||||||
| Loss from operations | (36,461 | ) | (2,597 | ) | ||||
| Interest and other income, net | 4,825 | |||||||
| Total other income (expense), net | (31,636 | ) | (2,597 | ) | ||||
| Loss before income taxes | (31,636 | ) | (2,597 | ) | ||||
| Benefit from income taxes | 50 | |||||||
| Net loss | (31,586 | ) | (2,597 | ) | ||||
| Net loss per share, basic and diluted | $ | (0.32 | ) | $ | (0.10 | ) | ||
| Weighted-average number of shares used in computing net loss per share, basic and diluted | 97,315,890 | 26,249,993 |
SELECTED BALANCE SHEET DATA
| As of March 31, 2019 | ||||
| Cash, cash equivalents and investments | $ | 680,728 | ||
| Total assets | 749,369 | |||
| Total liabilities | 68,141 | |||
| Total stockholders equity | 681,228 |
Allogene Media/Investor Contact:
Chief Communications Officer