Earnings

Allogene's Third-Quarter Loss Widens as ALPHA3 Enrollment Continues

The Tip Desk · November 11, 2026 · 3 min read

The clinical-stage biotech posted a $50.4 million net loss, or $0.15 a share, and ended September with $388.9 million in cash, cash equivalents and investments.

Allogene Therapeutics (ALLO), a clinical-stage biotechnology company developing allogeneic CAR T products for cancer and autoimmune disease, reported a net loss of $50.4 million, or $0.15 a share, for the three months ended September 30, 2026, including $7.0 million of non-cash stock-based compensation.

A year earlier the net loss was $41.4 million, or $0.19 a share. Weighted-average shares used in computing the loss were 346.1 million, versus 222.0 million a year earlier.

Research and development expenses were $41.9 million in the third quarter, including $2.9 million of non-cash stock-based compensation. General and administrative expenses were $12.9 million, including $4.2 million of non-cash stock-based compensation. Total operating expenses were $54.8 million, versus $44.9 million a year earlier. Loss from operations was $54.8 million. Collaboration revenue from a related party was zero, matching the year-ago quarter.

Cash, cash equivalents and investments were $388.9 million as of September 30, 2026, down from $423.6 million at June 30, 2026. Total assets were $511.3 million, versus $415.9 million as of December 31, 2025. Total stockholders’ equity was $392.6 million.

Based on September 30 cash, the company continues to project its cash runway into 2029. Guidance for operating expense in 2026 is expected to be approximately $165 million. GAAP operating expenses are expected to be approximately $225 million, including estimated non-cash stock-based compensation of about $35 million. Those estimates exclude any impact from potential business-development activities.

Enrollment momentum in the pivotal Phase 2 ALPHA3 trial of cemacabtagene ansegedleucel (cema-cel) in first-line large B-cell lymphoma continued, the company said, supported by an expanding site network, increased MRD screening, and brisk enrollment in Asia-Pacific after the interim futility analysis reported earlier this year. The growing network includes community oncology practices. The company continues to anticipate its next clinical update in mid-2027, with trial enrollment expected to be completed by year-end 2027.

President and Chief Executive Officer Zachary Roberts said the company believes 2027 will be an important year for cema-cel, with upcoming ALPHA3 data expected to provide insights into the potential for CAR T to be integrated into existing practice patterns earlier in the course of disease and closer to where patients receive care.

As ALPHA3 advances, Allogene has begun laying groundwork for potential commercialization of cema-cel, with an early focus on payer coverage, reimbursement and treatment-site readiness. The company appointed Rocio Manghani, MPH, as Vice President, Market Access, Evidence & Strategy. An abstract accepted for online publication in November in connection with the 2026 American Society of Hematology meeting will highlight a survey of 152 U.S. hematologists and oncologists on barriers to CAR T adoption. Allogene plans to host an in-person event at ASH on cema-cel’s potential to overcome those barriers.

In autoimmune disease, the Phase 1 RESOLUTION trial of ALLO-329 will present updated clinical and translational data at ACR Convergence on November 9, 2026. The presentation will expand a published nine-patient abstract with additional patients, longer follow-up, and results across three dose levels and three lymphodepletion approaches, with a focus on systemic sclerosis. Enrollment and dose escalation continue as the company evaluates additional dose levels and conditioning approaches to inform selection of a potential Phase 2 regimen.

At SITC 2026, the company will present preclinical data on a DLL3/CD70 dual CAR T product candidate for small cell lung cancer and other neuroendocrine tumors.

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Allogene Therapeutics, Inc. — all coverage and financials