Allogene Therapeutics ALLO incurred a loss of 28 cents per share in fourth-quarter 2024, narrower than the Zacks Consensus Estimate of a loss of 34 cents. In the year-ago period, the company had incurred a loss of 51 cents per share.

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ALLO did not generate revenues during the reported quarter. The Zacks Consensus Estimate for fourth-quarter sales was pegged at $0.07 million. In the year-ago period, the company recorded revenues of $0.02 million.

Year to date, shares of Allogene have lost 11% against the industry’s 6% growth.

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More on ALLO’s Q4 Results

Research & development (R&D) expenses totaled $45 million, down 18% from the year-ago quarter’s level.

General and administrative (G&A) expenses declined 10% year over year to $15.5 million.

As of Dec. 31, 2024, Allogene had $373.1 million of cash, cash equivalents and investments, compared with $403.4 million as of Sept. 30, 2024. The company claims that its cash runway will fund operations into the second half of2026.

Full-Year Results

In 2024, Allogene recorded total revenues of $0.2 million, down 77% year over year.

The company reported a loss of $1.32 per share for the year, narrower than the year-ago period’s loss of $2.09.

ALLO’s 2025 Guidance

Allogene anticipates operating expenses for the full year to be around $250 million, including non-cash stock-based compensation expenses of nearly $50 million.

Cash burn for 2025 is expected to be around $170 million.

Updates on ALLO’s Pipeline

Allogene’s main focus is on the pivotal phase II ALPHA3 study, which is evaluating lead drug cema-cel as a potential first-line treatment for newly diagnosed and treated large B cell lymphoma (LBCL) patients who are likely to relapse and need further therapy. While the company expects top-line data from this study by 2026-end, a regulatory submission for the same is planned for 2027.

Last month, Allogene published updated data from the now deprioritized phase I ALPHA and ALPHA2 studies, which evaluated cema-cel in third-line LBCL. Data from these studies showed that treatment with cema-cel is effective in patients who have low disease burden. In our opinion, these results provide more confidence in management’s pivot to develop cema-cel as a front-line therapy.

The lymphodepletion selection and futility analysis from the ALPHA3 study is expected around mid-2025. This analysis will provide insight into whether the company’s approach could meet its objectives.

Allogene is also planning to explore the potential of allogeneic CAR-T cell therapies in autoimmune diseases. In this regard, it plans to start an early-stage study with a new candidate, ALLO-329, in lupus/systemic lupus erythematosus (SLE) indication in mid-2025 and expects to have proof-of-concept by 2025-end.

In November, Allogene reported new data from the phase I TRAVERSE study, evaluating ALLO-316 in patients with advanced or metastatic renal cell carcinoma (RCC) who have progressed following treatment with an immune checkpoint inhibitor and VEGF-targeting therapy. Data from the study showed that patients with high CD70 expression who were infused with the drug achieved an overall response rate of 50% and a confirmed response rate of 33%. Based on this data, the FDA has granted Regenerative Medicine Advanced Therapy designation to ALLO-316 in advanced or metastatic RCC. Additional data from this study is expected in mid-2025.

ALLO’s Zacks Rank

Allogene currently has a Zacks Rank #3 (Hold).

Allogene Therapeutics, Inc. Price

Allogene Therapeutics, Inc. price | Allogene Therapeutics, Inc. Quote

Key Picks Among Biotech Stocks

Some top-ranked stocks from the sector are ANI Pharmaceuticals ANIP, CytomX Therapeutics CTMX and 89bio ETNB. While ANIP and CTMX sport a Zacks Rank #1 (Strong Buy) each, ETNB currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

In the past 60 days, estimates for ANI Pharmaceuticals’ 2025 earnings per share (EPS) have risen from $5.54 to $6.31. EPS estimates for 2026 have increased from $6.75 to $6.90 during the same period. Year to date, shares of ANIP have risen 11%.

ANIP’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 17.32%.

In the past 60 days, estimates for CytomX Therapeutics’ 2025 loss per share have narrowed from 31 cents to 10 cents. During the same timeframe, loss per share estimates for 2026 have narrowed from 65 cents to 50 cents. Year to date, shares of CytomX have lost nearly 43%.

CTMX’s earnings beat estimates in three of the trailing four quarters and missed the mark once, delivering an average surprise of 180.70%.

In the past 60 days, estimates for 89bio’s 2025 loss per share have narrowed from $3.19 to $1.98. During the same timeframe, loss per share estimates for 2026 have narrowed from $2.49 to $2.15. Year to date, shares of ETNB have gained about 5%.

89bio’s earnings missed estimates in three of the trailing four quarters and beat the mark once, delivering a negative average surprise of 46.18%.

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