Allogene Therapeutics (ALLO) Q1 2026 earnings summary

Executive summary

• Interim ALPHA3 trial results for cema-cel in large B cell lymphoma showed a 58.3% MRD clearance rate versus 16.7% in the observation arm, with a favorable safety profile and no CRS, ICANS, GvHD, or treatment-related hospitalizations, supporting outpatient administration and expanded access in community cancer centers.

• ALLO-329 Phase 1 RESOLUTION trial in autoimmune disease is progressing through dose escalation, showing early clinical activity and favorable tolerability at lower doses.

• Pipeline prioritization centers on ALPHA3, RESOLUTION (ALLO-329), and TRAVERSE (ALLO-316), with robust enrollment and global trial expansion, including over 60 sites for ALPHA3 and new activations in Australia and South Korea.

• Company completed a $200.4 million public offering in April 2026, extending cash runway into Q1 2029.

• ALLO-316 Phase 1b expansion cohort completed enrollment.

Financial highlights

• Q1 2026 net loss was $42.6 million, or $0.18 per share, compared to $59.7 million, or $0.28 per share, in Q1 2025.

• Research and development expenses were $32.0 million; general and administrative expenses were $14.1 million.

• Cash, cash equivalents, and investments totaled $266.9 million as of March 31, 2026, before the April 2026 offering.

• April 2026 public offering raised $200.4 million gross and $187.9 million net, significantly strengthening liquidity.

• Cash used in operating activities was $12.9 million in Q1 2026, down from $52.9 million in Q1 2025.

Outlook and guidance

• Cash runway, including April 2026 offering proceeds, expected to fund operations into Q1 2029, supporting completion of ALPHA3 and phase I RESOLUTION study for ALLO-329.

• Operating cash expense guidance for 2026 increased to $165 million; GAAP operating expenses expected at $225 million, including $35 million in non-cash stock-based compensation.

• Interim EFS analysis for ALPHA3 expected in mid-2027, with primary analysis in mid-2028 and BLA filing as soon as possible thereafter.

• Comprehensive ALLO-329 update planned for Q4 2026.