|Over a week ago|
Markets and Markets to hold a virtual event » 09:4606/2506/25/20
ALLO, CELG, MRK, PFE, QGEN, REGN, TAK
Next-Gen 3rd Annual…
Next-Gen 3rd Annual Immuno-Oncology Virtual Congress will be held on June 25-26. Webcast Link
Allogene says preclinical findings support DLL3-targeted AlloCAR-T in SCLC » 16:3406/2206/22/20
Allogene Therapeutics announced that preclinical findings supporting DLL3-targeted AlloCAR T therapy in small cell lung cancer, or SCLC, and inducible TurboCAR technology were presented in poster sessions at the virtual American Association for Cancer Research annual meeting. In research featured during the virtual meeting, genetically modified T cells expressing chimeric antigen receptors targeting Delta-like ligand 3 were screened, characterized and ranked against targets using in vitro cytotoxicity assays. Highly active DLL3 CARs displaying long-term killing potential were engineered to contain a rituximab off-switch. Lead DLL3 candidates were tested in vivo and robust efficacy was observed in both subcutaneous and systemic models of SCLC. Additionally, while DLL3 RNA has normal tissue expression in the brain, pituitary and testis, toxicity studies using subcutaneous and intracranial tumor models showed no tissue damage in the brain or pituitary. In a second poster, researchers presented data on a version of Allogene's TurboCAR technology that allows cytokine activation signaling to be selectively controlled by a small-molecule on-switch. This iTurboCAR can be activated by a clinically validated dimerizer drug to improve the potency and persistence of CAR T cells.
Allogene Therapeutics announces publication highlighting ALLO-819 potential » 08:4506/2206/22/20
Allogene Therapeutics announced a publication in Molecular Therapy demonstrating the potential for ALLO-819, an investigational AlloCAR T therapy targeting FLT3 as a novel treatment for acute myeloid leukemia. These preclinical findings were previously presented as a poster at the 61st American Society of Hematology Annual Meeting & Exposition in December 2019. In this study, healthy donor T lymphocytes were engineered to express CARs that bound to different domains of the FLT3 protein. These CARs were then tested for their ability to mediate specific killing of FLT3-expressing cells without off-target activity. A CAR construct was selected based on exhibiting minimal potential for exhaustion and potent antitumor activity in vitro and in vivo models.The lead candidate was then engineered to contain an off-switch responsive to rituximab, resulting in ALLO-819.
Revolution Medicines appoints Eric Shmidt, Peter Svennilson to board » 07:4706/1806/18/20
Revolution Medicines (RVMD) announced the appointments of Eric Schmidt, Ph.D., and Peter Svennilson to its board of directors. Mr. Svennilson was appointed to fill the vacancy created by the resignation of Larry Lasky, Ph.D., who stepped down from the board of directors and will continue supporting the company as a scientific advisor. Schmidt currently serves as the chief financial officer of Allogene Therapeutics (ALLO). Svennilson founded The Column Group in 2007 and has worked in venture capital and finance for more than 35 years.
Allogene Therapeutics price target raised to $50 from $32 at SunTrust » 09:0906/0806/08/20
SunTrust analyst Asthika…
SunTrust analyst Asthika Goonewardene raised the firm's price target on Allogene Therapeutics to $50 from $32 and keeps a Hold rating on the shares. ALPHA is delivering as it was intended to "by characterizing the expansion profile and lymphodepletion dynamics", the analyst tells investors in a research note. Goonewardene adds his new price target reflects his updated view on the potential of ALLO-501A in follicular lymphoma and ALLO-715 in multiple myeloma.
|Over a month ago|
Allogene Therapeutics 11.7M share Secondary priced at $47.00 » 06:2106/0206/02/20
The deal size was…
The deal size was increased to $550M in common stock from $450M in common stock. Goldman Sachs, Jefferies and Cowen acted as joint book running managers for the offering.
Fly Intel: Top five analyst downgrades » 10:0606/0106/01/20
ABT, ALLO, MTN, CGC, AER
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Abbott (ABT) downgraded to Sell from Neutral at Goldman Sachs with analyst Amit Hazan saying the stock has overreacted to the company's COVID testing opportunity. 2. Allogene Therapeutics (ALLO) downgraded to Market Perform at Raymond James with analyst Dane Leone saying the ASCO 2020 dataset for ALLO-501 has validated his investment hypothesis and the stock price now exceeds the prior $40 price target. 3. Vail Resorts (MTN) downgraded to Hold from Buy at Deutsche Bank with analyst Chris Woronka saying he believes the "recovery trade" in cyclicals like Vail may be close to stalling and sees a balanced risk/reward profile with the shares near the price target. 4. Canopy Growth (CGC) was downgraded to Sell from Buy at Stifel, to Sell from Neutral at Bryan Garnier and PI Financial, to Neutral from Outperformer at CIBC, and to Market Perform from Outperform at BMO Capital. 5. AerCap (AER) downgraded to Neutral from Buy at BofA with analyst Ronald Epstein saying the stock's material underperformance since early March has been driven by concerns and uncertainties over the future of air travel post-pandemic and the company's older fleet may be under pressure in the current environment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Allogene Therapeutics price target raised to $55 from $50 at Oppenheimer » 07:5006/0106/01/20
Oppenheimer analyst Mark…
Oppenheimer analyst Mark Breidenbach raised the firm's price target on Allogene Therapeutics to $55 from $50 and keeps an Outperform rating on the shares. The analyst notes that Allogene presented initial results from its ALPHA trial of ALLO-501 in an oral presentation at ASCO. Breidenbach believes ALLO-501's clinical profile should be construed as an ominous sign for autologous CD19 CAR-Ts, and provides a strong foundation heading into the potentially registrational ALPHA2 study.
Allogene Therapeutics downgraded to Market Perform from Outperform at Raymond James » 07:4606/0106/01/20
Raymond James analyst…
Raymond James analyst Dane Leone downgraded Allogene Therapeutics to Market Perform from Outperform without a price target, saying the ASCO 2020 dataset for ALLO-501 has validated his investment hypothesis and the stock price now exceeds the prior $40 price target. Leone tells investors that Allogene has fully delivered on its proof of concept goal with the ASCO 2020 dataset, and management has built up credibility, but also thinks that providing a definitive comparison to autologous CAR+ T cell therapy will not be possible until the 90mg dosage group has sufficient follow-up and can then be supported by an initial dataset from the ALLO-501a study.
Allogene Therapeutics price target raised to $66 from $45 at Goldman Sachs » 07:0806/0106/01/20
Goldman Sachs analyst…
Goldman Sachs analyst Salveen Richter raised the firm's price target on Allogene Therapeutics to $66 from $45 and keeps a Buy rating on the shares after the company presented additional data from its Phase 1 allogeneic CAR T ALLO-501 study in relapsed/refractory non-Hodgkin's lymphoma. The analyst views the data as "highly encouraging" and believes it further de-risks Allogene's allogeneic CAR T platform.