Allogene Therapeutics (NASDAQ: ALLO) is a clinical-stage biopharmaceutical company developing allogeneic CAR T cell therapies, meaning off-the-shelf cell therapies manufactured from donor cells rather than a patient's own cells. The company generates no product revenue. Its financing has come from equity issuances, including $22.4 million from ATM transactions and $6.9 million from a CIRM award in FY2025, along with prior partnership agreements with Pfizer, Cellectis, and Servier that carry contingent milestone payment obligations. Allogene's pipeline targets hematologic cancers and autoimmune diseases, with lead programs directed at CD19 and CD70 antigens. Key candidates include ALLO-329 for autoimmune indications such as systemic lupus erythematosus, idiopathic inflammatory myopathy, and systemic sclerosis. The company competes against major multinational pharmaceutical companies, established biotechnology firms, and developers of autologous CAR T therapies, all of which generally hold greater financial and manufacturing resources. Allogene was incorporated in Delaware and is headquartered in the United States.

Revenue model

No product revenue as of the FY2025 10-K filing. Financing has consisted of equity issuances via ATM transactions ($22.4 million in FY2025), a California Institute for Regenerative Medicine (CIRM) award ($6.9 million in FY2025), and employee stock purchase plan proceeds ($0.9 million in FY2025). Future potential revenue is contingent on milestone payments under license agreements with Pfizer, Cellectis, and Servier, tied to development, regulatory, and sales milestones.

Products and services

Allogeneic CAR T cell product candidates targeting CD19 and CD70 antigens. ALLO-329 is in development for autoimmune diseases including systemic lupus erythematosus (SLE, estimated 330,000 U.S. diagnosed cases), idiopathic inflammatory myopathy (IIM, estimated 70,000 U.S. diagnosed cases), and systemic sclerosis (SSc, estimated 100,000 U.S. diagnosed cases). A Phase 1b cohort for an anti-CD19/CD70 program has completed enrollment, with further standard dosing paused pending durability results as of the FY2025 10-K filing.

Customers and end markets

End markets are patients with relapsed or refractory hematologic cancers and autoimmune diseases, specifically SLE, IIM, and SSc. No commercial customers as of the FY2025 10-K filing. Potential future customers would be hospital systems and oncology or rheumatology treatment centers.

Value-chain role

Clinical-stage drug developer occupying the research, development, and manufacturing position in the cell therapy value chain. Relies on license agreements with Pfizer, Cellectis, and Servier for key intellectual property and technology access. Manufacturing is allogeneic, meaning centralized donor-derived production rather than patient-specific manufacturing.

Geographic exposure

Primary operations in the United States. The company has flagged exposure to U.S. federal trade policy shifts and potential tariffs affecting pharmaceutical ingredients manufactured outside the United States, as noted in the FY2025 10-K filing.

Competitors

Major multinational pharmaceutical companies (unnamed in filing excerpts), Established biotechnology companies (unnamed in filing excerpts), Autologous CAR T therapy developers (unnamed in filing excerpts), In vivo CAR T cell approach developers (unnamed in filing excerpts)

Source: SEC 10-K, filed 2026-03-12

Industry: Biological Products, (No Diagnostic Substances) Peers: Agios Pharmaceuticals Inc Travere Therapeutics Inc Iovance Biotherapeutics Inc Ironwood Pharmaceuticals Inc IVERIC bio, Inc. Krystal Biotech Inc Lyell Immunopharma Inc Revolution Medicines Inc Recursion Pharmaceuticals Inc