Allogene Therapeutics’ stock drops 46% after FDA puts hold on AlloCAR-T trials

Today, the allogeneic CAR-T company Allogene Therapeutics (NSDQ:ALLO) saw its stock dip to the lowest level since its IPO in 2018.

The company announced that FDA had placed a hold on its AlloCAR T clinical trials after the identification of a chromosomal abnormality in a patient enrolled in its ALPHA2 study (NCT04416984). That trial was a Phase 1/2 study involving 30 patients with relapsed/refractory large B-Cell lymphoma. The study related to the allogeneic CAR-T cell therapy ALPHA2 (ALL0-501A).

“The data generated from our past trials supports a favorable clinical profile for ALL0-501A in patients with large B-cell lymphoma, which underlies our mission to provide allergenic CAR-T therapies, faster and more reliably to patients suffering from some of the most difficult to treat cancers,” said David Chang, president and CEO of Allogene Therapeutics in an investor briefing.

The company stated that its lots of CAR-T cells undergo extensive testing, includi…

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