ALLO - Allogene gets Stifel nod; potential of ALLO-501 cited

Stifel analyst Benjamin J. Burnett upgrades Allogene Therapeutics ([[ALLO]] +2.9%) to buy from hold expecting positive reads for the company’s allogeneic CAR T (AlloCAR T™) therapy ALLO-501.The price target is raised to $43, implying ~30.3% upside to the previous close.The analyst expects a competitive clinical outcome for ALLO-501, compared to autologous CAR-T therapies, noting ‘pretreatment with high-dose ALLO-647 increases the likelihood that ALLO-501 (CD19-directed alloCAR-T) will persist.’In May, Allogene announced the first data from its Phase 1 dose-escalation ALPHA study of ALLO-501 in relapsed/refractory non-Hodgkin lymphoma (“NHL”). The trial uses ALLO-647, the anti-CD52 monoclonal antibody (mAb), as a part of its differentiated lymphodepletion regimen.Out of the nine evaluable patients treated at a lower dose (39mg) of ALLO-647, three had achieved a complete response, and the company expected to present the data of those who received the high-dose at the 2020 Virtual ASCO Meeting a few days later.‘We'd view the data positively if there

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Allogene gets Stifel nod; potential of ALLO-501 cited