ALLO - Allogene Therapeutics pops 5% on FDA Fast Track tag for ALLO-605 in multiple myeloma

Allogene Therapeutics (ALLO) perks up 5% premarket after announcing that the FDA has granted Fast Track designation to ALLO-605, the next-generation AlloCAR T therapy targeting BCMA for the treatment of relapsed or refractory multiple myeloma.Fast Track status provides for more frequent interaction with the FDA review team and a rolling review of the marketing application.The Phase 1 dose escalation portion of the IGNITE trial evaluating ALLO-605 was initiated in Q2 2021.

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Allogene Therapeutics pops 5% on FDA Fast Track tag for ALLO-605 in multiple myeloma