Allogene Therapeutics(ALLO) - 2025 Q1 - Quarterly Results

Financial Performance - The net loss for Q1 2025 was $59.7 million, or $0.28 per share, factoring in non-cash stock-based compensation of $12.2 million[13]. - Net loss for Q1 2025 was $59.7 million, compared to a net loss of $65.0 million in Q1 2024, representing an improvement of approximately 8.5%[19]. - Net loss per share, basic and diluted, improved to $0.28 in Q1 2025 from $0.38 in Q1 2024[19]. - Collaboration revenue from related parties was $0 for Q1 2025, down from $22 million in Q1 2024[19]. Cash and Investments - Allogene ended Q1 2025 with $335.5 million in cash, cash equivalents, and investments, extending its cash runway into the second half of 2027[11]. - The company expects a decrease in cash, cash equivalents, and investments of approximately $150 million for 2025, with GAAP operating expenses projected at approximately $230 million[11]. - Cash, cash equivalents, and investments decreased to $335.5 million as of March 31, 2025, down from $373.1 million as of December 31, 2024[21]. Expenses - Research and development expenses for Q1 2025 were $50.2 million, including $5.0 million of non-cash stock-based compensation[13]. - General and administrative expenses for Q1 2025 totaled $15.0 million, which included $7.1 million of non-cash stock-based compensation[13]. - Research and development expenses decreased to $50.2 million in Q1 2025 from $52.3 million in Q1 2024, a reduction of approximately 3.9%[19]. - General and administrative expenses decreased to $15.0 million in Q1 2025 from $17.3 million in Q1 2024, a reduction of approximately 13.9%[19]. - Total operating expenses decreased to $65.2 million in Q1 2025 from $69.5 million in Q1 2024, a reduction of approximately 6.3%[19]. Clinical Trials and Research - The ALPHA3 trial has nearly 50 activated sites across the U.S., with over 250 patients consented for MRD screening to date[6]. - The lymphodepletion regimen selection and futility analysis milestone has been shifted to the first half of 2026 due to site-related factors[6]. - The Phase 1 RESOLUTION trial with ALLO-329 in autoimmune disease is on track to start in mid-2025, with proof-of-concept data now expected in 1H 2026[9]. - ALLO-316 is the only allogeneic CAR T therapy showing potential in solid tumors, with updated Phase 1 trial results to be presented at the 2025 ASCO Annual Meeting[10]. Assets and Equity - Total assets decreased to $508.0 million as of March 31, 2025, from $548.7 million as of December 31, 2024[21]. - Total stockholders' equity decreased to $385.4 million as of March 31, 2025, down from $422.2 million as of December 31, 2024[21]. Strategic Focus - Allogene is focusing on advancing the Cema-Cel/ALPHA3 and ALLO-329/RESOLUTION clinical trials to key inflection points while implementing strategic cost realignment[11].