Allogene Therapeutics, Inc. reported a net loss of $50.9 million for the second quarter of 2025, a decrease from a loss of $66.4 million in the same period of the previous year. For the first half of 2025, the company recorded a net loss of $110.7 million, down from $131.4 million in the first half of 2024. The reduction in losses is attributed to a 20% decrease in total operating expenses, which fell to $56.8 million in the second quarter from $71.4 million a year earlier. This decline was driven by lower research and development costs, which decreased to $40.2 million from $50.4 million, and a reduction in general and administrative expenses.
The company’s total assets as of June 30, 2025, were $470.6 million, down from $548.7 million at the end of 2024. This decline was primarily due to a decrease in cash and cash equivalents, which fell to $52.3 million from $75.2 million. Allogene's accumulated deficit increased to $1.93 billion, reflecting ongoing investments in research and development. The company had cash, cash equivalents, and investments totaling $302.6 million, which management believes will be sufficient to fund operations for at least the next 12 months.
In terms of strategic developments, Allogene has made significant changes to its workforce, reducing its employee count by approximately 28% in May 2025 as part of a restructuring effort aimed at focusing resources on clinical programs. This workforce reduction is expected to yield cost savings and was accompanied by a one-time severance charge of $3.4 million. The company is also advancing its clinical trials, including the pivotal Phase 2 ALPHA3 trial for its product candidate, cemacabtagene ansegedleucel (cema-cel), which is being evaluated for the treatment of large B-cell lymphoma.
Operationally, Allogene has activated over 50 clinical trial sites across the United States and Canada for the ALPHA3 trial. The company is also exploring geographic expansion opportunities, particularly in the European Union and the United Kingdom, following an amendment to its licensing agreement with Servier. This amendment allows for the potential expansion of its CD19 product candidate territory, which could enhance its market presence.
Looking ahead, Allogene anticipates continued operating losses as it invests in the development of its product candidates. The company plans to raise additional capital through equity or debt financing to support its operations and clinical programs. Management remains focused on advancing its pipeline, which includes next-generation allogeneic CAR T cell therapies targeting various cancers and autoimmune diseases, while also managing its cash resources prudently to sustain operations through the anticipated development phases.
About Allogene Therapeutics, Inc.
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