Why The Allogene Therapeutics Stock Increased 15.74% (ALLO)

By Amit Chowdhry ● Jan 25, 2023
  • The stock price of Allogene Therapeutics (ALLO) increased by 15.74% in the most recent trading session. This is why.

The stock price of Allogene Therapeutics (ALLO) increased by 15.74% in the most recent trading session.

Why: Allogene Therapeutics (ALLO) announced that data from its Phase 1 UNIVERSAL trial of ALLO-715, an anti-BCMA AlloCAR T product candidate for relapsed/refractory (r/r) multiple myeloma (MM) has been published in Nature Medicine.

The Phase 1 UNIVERSAL study is a dose escalation trial in patients with heavily pretreated r/r MM. And the Nature Medicine publication includes data from the first 48 patients enrolled with a data cutoff of October 2021.

All patients treated were refractory to their last line of treatment and no bridging therapy was used in this trial. And the data demonstrated the ability of an allogeneic CAR T to achieve response rates in line with certain approved autologous CAR T therapies and durable remissions with a manageable safety profile while treating 92% of all enrolled patients and all products manufactured and released as per product specifications.

The updated data from the UNIVERSAL study were presented at the Company’s R&D Showcase in November 2022 and the American Society of Hematology Annual Meeting in December 2022.

“UNIVERSAL is the first and only allogeneic CAR T study to demonstrate that significant responses can be achieved with a single dose in patients with relapsed/refractory multiple myeloma. And these initial study results published in Nature Medicine reinforces their belief that ALLO-715 can induce deep, clinically meaningful responses in patients with an allogeneic cell therapy. AlloCAR T™ product candidates may be able to meaningfully reduce the barriers faced by patients with multiple myeloma when seeking to access cell therapy.” 

  • David Chang, M.D., Ph.D., President, Chief Executive Officer and Co-Founder of Allogene
“While new autologous CAR T therapies are a significant advance for patients with multiple myeloma, challenges inherent to those treatments remain, including manufacturing constraints and out-of-specification product, lengthy vein-to-vein time requiring bridging therapy or prolonged courses of treatment. These groundbreaking results demonstrate the potential for an off-the-shelf cell therapy to be delivered on demand to patients at scale. It is my hope that this publication demonstrating significant proof-of-concept for allogeneic CAR T will set the stage for many more advances in the field of cell therapy for myeloma.”
  • Sham Mailankody, MBBS, Clinical Director of Cellular Therapy Service and Associate Attending Physician, Memorial Sloan Kettering Cancer Center in New York, New York