The following is a summary of the Allogene Therapeutics, Inc. (ALLO) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Allogene Therapeutics ended Q4 2023 with a solid cash balance of $448.7 million and no debt.

• The company foresees a cash burn of roughly $190 million in 2024, with GAAP operating expenses approximated around $280 million, including an estimated non-cash stock-based compensation expense of about $60 million.

• Full-year 2023 research and development expenses concluded at $242.9 million, $31.9 million of which was associated with non-cash, stock-based compensation. General and administration expenses stood at $71.7 million, which included $34 million of non-cash, stock-based compensation expense.

• For the full year of 2023, the company reported a net loss of $327.3 million or $2.09 per share.

Business Progress:

• Allogene is advancing multiple projects, one of which is the ALPHA3 trial to further the use of cema-cel as first-line treatment for large B-cell lymphoma.

• Allogene also launched a CAR T cell therapy program to cater to autoimmune disease patients, reducing dependence on lymphodepletion.

• Preparations are underway for a Phase 1 trial of ALLO-329, designed to treat autoimmune diseases, to start in early 2025.

• It is also looking forward to revealing a fundamental insight regarding treatment-associated hyperinflammatory responses in mid-2024.

• The company's focus for 2024 lies in advancing the ALPHA3 trial and introducing ALLO-329 using Arbor Biotechnologies' proprietary CRISPR gene editing technology. Other significant projects include the new ALPHA2 cohort for CLL treatments.

• Allogene aims to extend its available capital into 2026 by actively managing costs and exploring opportunities to augment its cash reserves.

More details: Allogene Therapeutics IR

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