ALLO News & Events

Allogene Therapeutics announced that Dr. David Chang, M.D., Ph.D., will transition from his role as President and CEO, effective June 30, following eight years of leadership that established Allogene as a leader in the development of off-the-shelf cell therapies. Dr. Chang will continue to serve on the company's Board of Directors. The company's Board of Directors has unanimously elected Zachary Roberts, M.D., Ph.D., currently Executive Vice President, Research & Development and Chief Medical Officer, to succeed Dr. Chang as President and CEO, effective July 1. He will also be appointed to the Board of Directors effective the same date. Since his appointment in January 2023, Dr. Roberts has reshaped Allogene's clinical development strategy, driving advances across the company's pipeline, including the design and execution of the company's pivotal ALPHA3 trial in first line consolidation large B-cell lymphoma.

The company had $266.9M in cash, cash equivalents, and investments as of March 31. In April, the company completed a public offering which resulted in aggregate gross proceeds of $200.4M, before deducting underwriting discounts and commissions and estimated offering expenses. As a result, the company has extended its cash runway into the first quarter of 2029.

Based upon the company's current forecast for the overall timing of the ALPHA3 program, it is modestly increasing its guidance for operating cash expense in 2026 from approximately $150M to $165M. GAAP operating expenses are also expected to modestly increase from approximately $210M to $225M, including estimated non-cash stock-based compensation expense of approximately $35M. These estimates exclude any impact from potential business development activities.