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1. Company Snapshot

1.a. Company Description

Allogene Therapeutics, Inc., a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer.It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL.The company also develops ALLO-501, an anti-CD19 allogeneic CAR T cell product candidate that is in Phase I clinical trial for the treatment of R/R non-Hodgkin lymphoma; and ALLO-501A, which is in Phase I/II clinical trial for the treatment R/R large B-cell lymphoma or transformed follicular lymphoma.


In addition, it is developing ALLO-715, an allogeneic CAR T cell product candidate that is in a Phase I clinical trial for treating R/R multiple myeloma; ALLO-605, an allogeneic CAR T cell product candidate for the treatment of multiple myeloma; ALLO-647, an anti-CD52 monoclonal antibody; CD70 to treat renal cell cancer; ALLO-819, an allogeneic CAR T cell product candidates for the treatment of acute myeloid leukemia; and DLL3 for the treatment of small cell lung cancer and other aggressive neuroendocrine tumors.The company has license and collaboration agreements with Pfizer Inc.; Servier; Cellectis S.A.; and Notch Therapeutics Inc., as well as clinical trial collaboration agreement with SpringWorks Therapeutics, Inc.It also has a strategic collaboration agreement with The University of Texas MD Anderson Cancer Center for the preclinical and clinical investigation of allogeneic CAR T cell product candidates.


The company was incorporated in 2017 and is headquartered in South San Francisco, California.

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1.b. Last Insights on ALLO

Allogene Therapeutics' recent performance was impacted by the passing of founding board member David Bonderman in December 2024, which may have led to a temporary disruption in the company's operations. Additionally, the company's financial health is stable, with a cash runway until Q1 2026, as mentioned in a February 2025 report. However, the recent IND clearance for ALLO-329 in January 2025, advancing its next-generation allogeneic CAR T into autoimmune diseases, is a promising development for the company's pipeline.

1.c. Company Highlights

2. Allogene Therapeutics' Q3 2025 Earnings: A Deeper Dive into Financials and Pipeline Progress

Allogene Therapeutics reported a net loss of $41.4 million or $0.19 per share for the third quarter of 2025, which beat analyst estimates of -$0.23 per share. The company's cash, cash equivalents, and investments stood at $277.1 million as of September 30, 2025, providing a cash runway that extends into the second half of 2027. Research and development expenses for the quarter were $31.2 million, including $2.8 million of noncash stock-based compensation, while general and administrative expenses were $13.7 million, including $5.9 million in noncash stock-based compensation. As David Chang, President and Chief Executive Officer, emphasized the company's focus on conviction in its science, the financial performance reflects a disciplined approach to resource management.

Publication Date: Nov -12

📋 Highlights
  • Cash Runway:: $277.1M cash, extending runway to H2 2027.
  • ALPHA3 Trial Streamlined:: 2-arm design for cema-cel, futility analysis on MRD conversion expected H1 2026.
  • Dagger Technology Efficacy:: 1/3 durable responses in metastatic kidney cancer (TRAVERSE trial).
  • ALLO-329 Development:: Dual CD19/CD70 CAR T for autoimmune disease, proof-of-concept data targeted H1 2026.
  • Q3 Net Loss:: $41.4M, driven by $31.2M R&D and $13.7M G&A expenses.

Pipeline Progress and Clinical Trials

The company's pipeline continues to show promise, with the ALPHA3 trial, a pivotal trial for cema-cel, streamlined into a 2-arm randomized study. The planned futility analysis focused on MRD conversion remains on track for the first half of 2026. Additionally, the IMvigor 11 trial in bladder cancer demonstrated a potentially practice-changing advance, with a 30% delta between ctDNA clearance and the control arm. The Dagger technology has also shown its value across indications, including durable responses in nearly 1/3 of patients with metastatic kidney cancer in the TRAVERSE trial.

Valuation and Growth Expectations

With analysts estimating revenue growth of 730.6% next year, the current valuation metrics are worth examining. The company's Price-to-Book Ratio stands at 0.87, and the EV/EBITDA ratio is -1.55. Given the significant growth expectations, these metrics suggest that the market is pricing in a substantial increase in value. However, the current ROE of -57.79% and ROIC of -55.86% indicate that the company is still in a growth phase, investing heavily in research and development.

Future Milestones and Catalysts

Allogene Therapeutics is expected to report significant milestones in the first half of 2026, including interim futility data from the ALPHA3 trial and proof-of-concept results from the ALLO-329 study. These updates will be crucial in validating the company's allogeneic platform and potentially paving the way for accelerated pathways or reduced friction for approval, as discussed during the earnings call. With a strong cash position and a disciplined approach to resource management, the company is well-positioned to achieve these milestones and drive growth.

3. NewsRoom

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Allogene Therapeutics Announces Participation in Upcoming Investor Conferences

Nov -10

Source: globenewswire.com

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Allogene: ALLO-316 Data In RCC Could Lead To Targeting Solid Tumors With CAR T

Nov -07

Source: seekingalpha.com

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Allogene Posts Narrower-Than-Expected Loss in Q3, Nil Sales

Nov -07

Source: zacks.com

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Allogene Therapeutics, Inc. (ALLO) Q3 2025 Earnings Call Transcript

Nov -07

Source: seekingalpha.com

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Allogene Therapeutics Reports Third Quarter 2025 Financial Results and Business Update

Nov -06

Source: globenewswire.com

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Allogene Therapeutics Announces ALPHA3 Trial-in-Progress Poster Presentation at ASH Annual Meeting

Nov -03

Source: globenewswire.com

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Allogene Therapeutics to Report Third Quarter 2025 Financial Results and Provide Business Update

Oct -30

Source: globenewswire.com

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ALLO Enables Equal Access To Secure Wi-Fi for All Students With Calix SmartTown for Education

Oct -17

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (0.00%)

6. Segments

Allogeneic T Cell Therapies

Expected Growth: 25.4%

Growing demand for cancer treatment, increasing adoption of gene-modified T cell therapies, and Allogene Therapeutics' innovative off-the-shelf approach are expected to drive the growth of allogeneic T cell therapies.

7. Detailed Products

ALLO-501

ALLO-501 is an allogenic T cell therapy that targets CD19, a protein expressed on the surface of certain B cells, for the treatment of relapsed or refractory non-Hodgkin lymphoma.

ALLO-501A

ALLO-501A is an allogenic T cell therapy that targets CD19, a protein expressed on the surface of certain B cells, for the treatment of relapsed or refractory large B cell lymphoma.

ALLO-715

ALLO-715 is an allogenic T cell therapy that targets BCMA, a protein expressed on the surface of certain multiple myeloma cells, for the treatment of relapsed or refractory multiple myeloma.

ALLO-605

ALLO-605 is an allogenic T cell therapy that targets FLT3, a protein expressed on the surface of certain acute myeloid leukemia cells, for the treatment of relapsed or refractory acute myeloid leukemia.

8. Allogene Therapeutics, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Allogene Therapeutics, Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to ongoing research and development in the field of gene therapy.

Bargaining Power Of Customers

Allogene Therapeutics, Inc. has a diverse customer base, but the bargaining power of customers is limited due to the specialized nature of its products and services.

Bargaining Power Of Suppliers

Allogene Therapeutics, Inc. relies on a few key suppliers for raw materials and services, which gives them some bargaining power, but the company's strong relationships and contracts mitigate this risk.

Threat Of New Entrants

The gene therapy market is rapidly evolving, and new entrants are likely to emerge, posing a significant threat to Allogene Therapeutics, Inc.'s market share and competitive position.

Intensity Of Rivalry

The gene therapy market is highly competitive, with several established players and new entrants vying for market share, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 15.66%
Debt Cost 3.95%
Equity Weight 84.34%
Equity Cost 8.46%
WACC 7.75%
Leverage 18.57%

11. Quality Control: Allogene Therapeutics, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
OncoCyte

A-Score: 3.7/10

Value: 7.0

Growth: 6.0

Quality: 3.2

Yield: 0.0

Momentum: 4.0

Volatility: 1.7

1-Year Total Return ->

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Kezar Life Sciences

A-Score: 3.5/10

Value: 8.0

Growth: 5.4

Quality: 6.0

Yield: 0.0

Momentum: 0.0

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
Allogene Therapeutics

A-Score: 3.3/10

Value: 7.8

Growth: 4.3

Quality: 6.1

Yield: 0.0

Momentum: 0.0

Volatility: 1.3

1-Year Total Return ->

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Biomea Fusion

A-Score: 3.2/10

Value: 6.8

Growth: 3.3

Quality: 3.6

Yield: 0.0

Momentum: 5.0

Volatility: 0.3

1-Year Total Return ->

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Stock-Card
Pliant Therapeutics

A-Score: 2.6/10

Value: 7.8

Growth: 3.2

Quality: 3.5

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

1-Year Total Return ->

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Maravai LifeSciences

A-Score: 2.2/10

Value: 7.2

Growth: 2.1

Quality: 3.2

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.43$

Current Price

1.43$

Potential

-0.00%

Expected Cash-Flows