Allogene prices $175 million stock offering at $2 per share

Allogene Therapeutics Inc. (NASDAQ: ALLO) priced an underwritten public offering of 87.5 million shares of common stock at $2.00 per share, the company announced. The offering is expected to generate gross proceeds of $175 million before deducting underwriting discounts, commissions and estimated offering expenses.

The offering is expected to close on or about April 16, 2026, subject to customary closing conditions. Allogene has granted underwriters a 30-day option to purchase up to 13.125 million additional shares at the public offering price, less underwriting discounts and commissions.

The South San Francisco-based clinical-stage biotechnology company plans to use net proceeds for general corporate purposes, including clinical trial expenses, research and development expenses, general and administrative expenses, and capital expenditures.

Goldman Sachs & Co. LLC, Jefferies and TD Cowen are serving as joint bookrunners for the offering. Piper Sandler and William Blair are also acting as joint bookrunners. Baird and Canaccord Genuity are serving as lead managers, while TPG Capital BD, LLC is acting as co-manager.

The shares are being offered under a shelf registration statement filed with the Securities and Exchange Commission that was declared effective on April 25, 2024. Allogene develops allogeneic chimeric antigen receptor T cell products for cancer and autoimmune disease treatment.

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