ALLO - Allogene Therapeutics GAAP EPS of -$0.53 beats by $0.06 revenue of $0.04M beats by $0.02M

2023-08-02 16:09:04 ET

• Allogene Therapeutics press release ( NASDAQ: ALLO ): Q2 GAAP EPS of -$0.53 beats by $0.06 .
• Revenue of $0.04M (-55.6% Y/Y) beats by $0.02M .
• The Company had $544.5 million in cash, cash equivalents, and investments as of June 30, 2023, which includes net proceeds of approximately $87.9 million raised in the second quarter from an at-the market (ATM) equity financing facility. Based on current expectations, the Company expects its cash runway to fund operations into 2H 2025.
• Research and development expenses were $62.0 million for the second quarter of 2023, which includes $6.9 million of non-cash stock-based compensation expense.
• General and administrative expenses were $18.5 million for the second quarter of 2023, which includes $9.7 million of non-cash stock-based compensation expense.
• Net loss for the second quarter of 2023 was $78.0 million, or $0.53 per share, including non-cash stock-based compensation expense of $16.6 million.
• 2023 Financial Guidance
• As previously reported, the Company expects a decrease in cash, cash equivalents, and investments of approximately $230 million in 2023. GAAP Operating Expenses are expected to be approximately $340 million, including estimated non-cash stock-based compensation expense of approximately $80 million. These estimates exclude any impact from potential business development activities.

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