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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