Allogene Therapeutics (ALLO) Q1 2026 earnings summary

Executive summary

• Interim analysis from the pivotal Phase 2 ALPHA3 trial showed cema-cel achieved a 58.3% MRD clearance rate in first-line LBCL, outperforming observation by 41.6 percentage points and demonstrating a favorable safety profile with no CRS, ICANS, GvHD, or treatment-related hospitalizations, supporting outpatient use and broader accessibility, including community cancer centers.

• ALLO-329 in autoimmune indications is progressing through dose escalation in the RESOLUTION trial, with early clinical activity and favorable tolerability at lower doses.

• Pipeline prioritization centers on ALPHA3 (cema-cel for LBCL), RESOLUTION (ALLO-329 for autoimmune diseases), and TRAVERSE (ALLO-316 for RCC), with ALLO-316 Phase 1b expansion cohort completed.

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

• Community and global clinical sites show strong interest in outpatient administration and broader accessibility for both lead programs.

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 ($187.9 million net), extending cash runway into Q1 2029.

• Stockholders’ equity was $278.9 million as of March 31, 2026.

Outlook and guidance

• Cash runway, including April 2026 offering proceeds, is expected to fund operations through completion of ALPHA3 and phase I RESOLUTION study for ALLO-329, with key data updates in Q4 2026 and interim EFS analysis for ALPHA3 in mid-2027, and primary EFS analysis in mid-2028.

• Operating cash expense guidance for 2026 increased to $150–$165 million; GAAP operating expenses expected at $210–$225 million, including $35 million in non-cash stock-based compensation.