Quarterly ResultMay 13, 2026, 04:09 PM
Allogene Therapeutics Q1 Net Loss $(42.6)M; R&D Expenses Down 36%
AI Summary
Allogene Therapeutics reported a net loss of $42.6 million for the first quarter of 2026, a notable improvement from a $59.7 million net loss in the same period last year. Research and development expenses significantly decreased by 36% to $32.0 million. The company bolstered its financial position by raising $20.7 million through an at-the-market (ATM) offering and receiving $23.7 million from an escrow release. As of March 31, 2026, Allogene Therapeutics held $266.9 million in cash, cash equivalents, and investments, which, combined with proceeds from an April 2026 public offering, are expected to fund operations for at least the next 12 months.
Key Highlights
- Q1 2026 Net Loss: $(42.6) million, an improvement from $(59.7) million in Q1 2025.
- Q1 2026 Net Loss per Share: $(0.18), compared to $(0.28) in Q1 2025.
- Q1 2026 Research & Development expenses: $32.0 million, down 36% year-over-year.
- Cash, cash equivalents, and investments: $266.9 million as of March 31, 2026.
- Net proceeds from ATM offering: $20.7 million during Q1 2026.
- Net cash proceeds from escrow release: $23.7 million in Q1 2026.
- Total operating expenses: $46.1 million for Q1 2026, down from $65.2 million.
- Expected to fund operations for at least 12 months from filing date.