2024 Q4 Form 10-Q Financial Statement

#000173728724000073 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $16.33M
YoY Change -4.15%
% of Gross Profit
Research & Development $44.71M
YoY Change -2.75%
% of Gross Profit
Depreciation & Amortization $3.207M
YoY Change -10.17%
% of Gross Profit
Operating Expenses $71.77M
YoY Change 13.89%
Operating Profit -$71.77M
YoY Change 13.97%
Interest Expense $5.481M
YoY Change -11.74%
% of Operating Profit
Other Income/Expense, Net $5.481M
YoY Change 230.18%
Pretax Income -$66.29M
YoY Change 8.11%
Income Tax
% Of Pretax Income
Net Earnings -$66.29M
YoY Change 8.12%
Net Earnings / Revenue
Basic Earnings Per Share -$0.32
Diluted Earnings Per Share -$0.32
COMMON SHARES
Basic Shares Outstanding 209.7M shares 209.1M shares
Diluted Shares Outstanding 209.2M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $291.6M
YoY Change -37.37%
Cash & Equivalents $51.24M
Short-Term Investments $240.3M
Other Short-Term Assets $12.85M
YoY Change 62.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $304.4M
YoY Change -35.7%
LONG-TERM ASSETS
Property, Plant & Equipment $88.99M
YoY Change -13.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $111.8M
YoY Change 198.19%
Other Assets $4.970M
YoY Change -48.1%
Total Long-Term Assets $284.7M
YoY Change 19.19%
TOTAL ASSETS
Total Short-Term Assets $304.4M
Total Long-Term Assets $284.7M
Total Assets $589.1M
YoY Change -17.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.506M
YoY Change -11.27%
Accrued Expenses $27.07M
YoY Change -13.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.57M
YoY Change -13.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $7.666M
YoY Change 415.88%
Total Long-Term Liabilities $7.666M
YoY Change 415.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.57M
Total Long-Term Liabilities $7.666M
Total Liabilities $125.4M
YoY Change -2.98%
SHAREHOLDERS EQUITY
Retained Earnings -$1.760B
YoY Change 17.33%
Common Stock $2.223B
YoY Change 7.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $463.7M
YoY Change
Total Liabilities & Shareholders Equity $589.1M
YoY Change -17.3%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$66.29M
YoY Change 8.12%
Depreciation, Depletion And Amortization $3.207M
YoY Change -10.17%
Cash From Operating Activities -$44.12M
YoY Change -20.56%
INVESTING ACTIVITIES
Capital Expenditures $429.0K
YoY Change 2045.0%
Acquisitions
YoY Change
Other Investing Activities -$75.56M
YoY Change 120.56%
Cash From Investing Activities -$75.99M
YoY Change 121.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 679.0K
YoY Change -84.14%
NET CHANGE
Cash From Operating Activities -44.12M
Cash From Investing Activities -75.99M
Cash From Financing Activities 679.0K
Net Change In Cash -119.4M
YoY Change 39.65%
FREE CASH FLOW
Cash From Operating Activities -$44.12M
Capital Expenditures $429.0K
Free Cash Flow -$44.54M
YoY Change -19.81%

Facts In Submission

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Description of Business<div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Allogene Therapeutics, Inc. (the Company or Allogene) was incorporated on November 30, 2017 in the State of Delaware and is headquartered in South San Francisco, California. Allogene is a clinical stage immuno-oncology company pioneering the development of genetically engineered allogeneic T cell product candidates for the treatment of cancer and autoimmune diseases. The Company is developing a pipeline of “off-the-shelf” T cell product candidates that are designed to target and kill cancer cells in patients or eliminate pathogenic autoreactive cells in patients with autoimmune disorders. The Company’s engineered T cells are allogeneic, meaning they are derived from healthy donors for intended use in any patient, rather than from an individual patient for that patient’s use, as in the case of autologous T cells. The Company believes this key difference will enable it to deliver readily available treatments faster, more reliably, at greater scale, and to more patients.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Registered Offering</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 13, 2024, the Company entered into (i) an underwriting agreement (Underwriting Agreement) with Goldman Sachs &amp; Co. LLC (Underwriter) and (ii) a Securities Purchase Agreement (Securities Purchase Agreement)    with certain members of the Company’s Board of Directors and executive officers or their respective affiliates (Purchasers), pursuant to which the Company sold and issued to the Underwriter and the Purchasers an aggregate of 37,931,035 shares of common stock of the Company at a purchase price of $2.90 per share, in a registered offering transaction (Registered Offering) for aggregate gross proceeds of $110.0 million, before deducting the underwriting discount and commissions and estimated offering expenses payable by the Company. The Registered Offering closed on May 16, 2024. The aggregate fee payable by the Company to the Underwriter was $4.7 million, plus the reimbursement of certain expenses. The Purchasers purchased an aggregate of 1,034,484 shares of common stock of the Company in the Registered Offering.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Need for Additional Capital</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has sustained operating losses and expects to continue to generate operating losses for the foreseeable future. The Company’s ultimate success depends on the outcome of its research and development activities as well as the ability to commercialize the Company's product candidates.</span></div><div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company had cash and cash equivalents and investments of $403.4 million as of September 30, 2024. Since inception through September 30, 2024, the Company has incurred cumulative net losses of $1,759.9 million. Management expects to incur additional losses in the future to fund its operations and conduct product research and development and recognizes the need to raise additional capital to fully implement its business plan.</span></div>The Company intends to raise additional capital through the issuance of equity securities, debt financings or other sources in order to further implement its business plan. However, if such financing is not available at adequate levels, the Company will need to reevaluate its operating plan and may be required to delay the development of its product candidates. The Company expects that its cash and cash equivalents and investments will be sufficient to fund its operations for at least the next 12 months from the date the accompanying unaudited condensed consolidated financial statements are filed with the Securities and Exchange Commission (SEC).
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