Mission Statement, Vision, & Core Values (2024) of Allogene Therapeutics, Inc. (ALLO)

An Overview of Allogene Therapeutics, Inc. (ALLO)

General Overview of Allogene Therapeutics, Inc. (ALLO)

Allogene Therapeutics, Inc. was incorporated on November 30, 2017, in the State of Delaware and is headquartered in South San Francisco, California. The company is a clinical-stage immuno-oncology firm focused on developing genetically engineered allogeneic T cell product candidates aimed at treating cancer and autoimmune diseases. Allogene's main innovation is its "off-the-shelf" T cell therapies, derived from healthy donors, which can be used to treat multiple patients, thereby promising faster and more reliable treatment availability.

As of 2024, Allogene is advancing a pipeline of T cell product candidates, particularly in the CAR T cell therapy space. The company aims to address significant unmet medical needs in hematological cancers and solid tumors.

Current sales figures for 2024 indicate that Allogene continues to operate at a loss with an accumulated deficit of approximately $1.8 billion as of September 30, 2024. The company reported cash and cash equivalents of $403.4 million.

Company's Financial Performance in the Latest Financial Reports

In the latest financial reports for the nine months ended September 30, 2024, Allogene reported a net loss of $197.7 million, a reduction from a net loss of $241.5 million during the same period in 2023. The total operating expenses for the nine months were $212.7 million, down from $242.7 million in 2023, indicating a decrease of approximately 12%.

Research and development expenses were $147.3 million for the nine months ended September 30, 2024, compared to $188.3 million in 2023, reflecting a decrease of $40.9 million. General and administrative expenses also saw a decline, totaling $49.7 million for the same period, down from $54.4 million in the previous year.

Collaboration revenue recognized for the nine months ended September 30, 2024, was $22,000, a significant decrease compared to $74,000 in 2023. The company recorded stock-based compensation expenses of $38.9 million for the nine months of 2024, compared to $50.7 million in 2023.

The cash flow from operating activities showed a net cash used of $163.6 million for the nine months ended September 30, 2024. As of September 30, 2024, the company had 209,500,137 shares outstanding.

Introduction to Allogene as a Leader in the Industry

Allogene Therapeutics, Inc. is recognized as a leader in the field of allogeneic CAR T cell therapy, focusing on innovative treatments that aim to enhance patient outcomes in oncology. The company is pioneering the development of its product candidates, which are designed to provide effective and scalable treatment options for patients with various forms of cancer. With its robust pipeline and strategic collaborations, Allogene is positioned to make significant advancements in the treatment landscape for cancer and autoimmune disorders.

To delve deeper into Allogene's strategies and successes in the industry, further exploration of their operational frameworks and market positioning is recommended.

Mission Statement of Allogene Therapeutics, Inc. (ALLO)

Mission Statement Overview

Allogene Therapeutics, Inc. (ALLO) aims to pioneer the development of genetically engineered allogeneic T cell therapies to transform cancer treatment. The mission statement reflects a commitment to delivering innovative and effective therapies that can improve patient outcomes and quality of life.

Core Component 1: Innovation

At the heart of Allogene's mission is a relentless pursuit of innovation in the field of immuno-oncology. The company focuses on developing “off-the-shelf” T cell product candidates designed to target and kill cancer cells effectively. This innovation is exemplified by the ongoing development of ALLO-316, an investigational product targeting CD70 for treating advanced or metastatic renal cell carcinoma (RCC).

As of September 30, 2024, Allogene reported an accumulated deficit of $1.8 billion since its inception, indicating the substantial investments made in research and development to drive innovation .

Core Component 2: Accessibility

Allogene is committed to making these therapies accessible to a broader patient population. The use of allogeneic T cells allows for faster delivery of therapies as they can be manufactured in advance and stored for use in multiple patients. This approach contrasts with autologous therapies, which require cell extraction from each patient, leading to delays.

The company's commitment to accessibility can be seen in their strategic collaborations, such as with The University of Texas MD Anderson Cancer Center, where they aim to investigate and develop therapies that can reach patients more efficiently.

Core Component 3: Patient-Centric Focus

The mission statement emphasizes a patient-centric focus, ensuring that all developments and innovations are aimed at improving patient outcomes. Allogene Therapeutics engages with patients and healthcare professionals to understand their needs better and tailor treatments accordingly.

For instance, the recent collaboration with CIRM (California Institute for Regenerative Medicine) involves funding up to $15 million for the clinical development of ALLO-316, underscoring the focus on advancing therapies that directly impact patient health.

As of September 30, 2024, Allogene had $403.4 million in cash and cash equivalents, which is expected to fund operations into 2026 . This financial stability allows the company to continue its mission of developing innovative therapies while maintaining a strong focus on accessibility and patient outcomes.

Vision Statement of Allogene Therapeutics, Inc. (ALLO)

Vision Statement Overview

Allogene Therapeutics, Inc. (ALLO) aims to revolutionize cancer treatment through the development of genetically engineered allogeneic T cell therapies. The company envisions a future where these therapies are readily available, scalable, and effective in targeting various cancers.

Commitment to Innovation

ALLO's vision emphasizes a strong commitment to innovation in the field of immuno-oncology. The company is focused on creating "off-the-shelf" T cell therapies that can be used in any patient, significantly reducing the time and complexity associated with traditional personalized treatments.

Access and Affordability

ALLO envisions a healthcare landscape where cancer treatments are not only innovative but also accessible and affordable. This vision is supported by the company's strategy to streamline manufacturing processes and reduce costs, thereby increasing patient access to these potentially life-saving therapies.

Global Impact

ALLO aims for a global impact through its therapies, targeting a wide range of cancers. The company is actively expanding its reach in international markets, especially in regions with high unmet medical needs, such as Greater China, Taiwan, and South Korea, as part of its strategic collaborations.

Patient-Centric Approach

At the core of ALLO's vision is a patient-centric approach. The company prioritizes the needs and experiences of patients, focusing on developing therapies that not only prolong life but also improve the quality of life for cancer patients.

Strategic Partnerships

Allogene has established strategic partnerships to enhance its capabilities and expand its market presence. Collaborations with leading institutions such as MD Anderson Cancer Center illustrate the company's commitment to advancing its research and development efforts.

Financial Outlook

As of September 30, 2024, Allogene reported cash and cash equivalents of $403.4 million, indicating a solid financial foundation to support its vision. The company anticipates continued investment in R&D, projecting operating expenses to increase as it scales operations and advances its product candidates.

Future Aspirations

Allogene Therapeutics envisions a future where its therapies are standard treatment options for various cancers, significantly improving patient outcomes and reshaping the landscape of cancer care globally.

Core Values of Allogene Therapeutics, Inc. (ALLO)

Core Value: Innovation

Innovation is at the heart of Allogene Therapeutics, Inc.'s mission to develop transformative therapies for patients with cancer. The company invests significantly in research and development to pioneer allogeneic CAR T cell therapies.

In the first nine months of 2024, Allogene reported research and development expenses of $147.3 million, compared to $188.3 million in the same period in 2023, reflecting a commitment to optimizing resource allocation while maintaining innovation.

In 2024, Allogene initiated the pivotal ALPHA3 trial to evaluate ALLO-647, an anti-CD52 monoclonal antibody that may enhance the effectiveness of its engineered T cell therapies.

Core Value: Integrity

Integrity guides Allogene's interactions with stakeholders, ensuring transparency and ethical practices in all operations. The company adheres to high standards of compliance and ethical behavior in its clinical trials and collaborations.

For instance, in 2024, Allogene engaged in a strategic collaboration with The University of Texas MD Anderson Cancer Center, committing up to $15 million to support research activities. This partnership emphasizes the company's dedication to conducting its business with integrity and accountability.

Core Value: Collaboration

Collaboration is essential for Allogene's success, fostering partnerships that enhance its research capabilities and market reach. The company has established several key collaborations, such as its partnership with Overland Therapeutics, aimed at developing allogeneic CAR T cell therapies for patients across Asia.

As of September 30, 2024, Allogene recognized collaboration revenue of less than $0.1 million from its related party agreements, reflecting ongoing efforts to leverage partnerships for advancing its therapeutic pipelines.

Core Value: Patient-Centricity

Patient-centricity is a guiding principle for Allogene, driving the company to focus on the needs and outcomes of patients. Allogene's therapies are designed to provide effective and accessible treatment options for cancer patients.

As of September 30, 2024, Allogene had a cash and cash equivalents balance of $403.4 million, which provides a robust financial foundation to support its commitment to patient-focused research and development initiatives.

Core Value: Excellence

Excellence in execution is a core value at Allogene, reflected in its rigorous clinical trials and operational strategies. The company aims to set industry standards in the development of CAR T cell therapies.

In 2024, Allogene reported a net loss of $66.3 million for the three months ended September 30, compared to a loss of $62.3 million in the same period in 2023. This emphasizes the company's relentless pursuit of excellence despite the financial challenges associated with advancing complex therapies.

Updated on 16 Nov 2024

Resources:

1. Allogene Therapeutics, Inc. (ALLO) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Allogene Therapeutics, Inc. (ALLO)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Allogene Therapeutics, Inc. (ALLO)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.