Allogene Raises $200.4M via 100.2M Share Public Offering
Allogene Therapeutics closed a $200.4 million public offering by issuing 100.2 million shares of common stock at $2.00, including 12.7 million shares under an option exercise. Net proceeds will fund clinical trials, R&D, general corporate expenses and capital expenditures, bolstering its off-the-shelf CAR T pipeline.
1. Offering Details
Allogene Therapeutics sold 87.5 million shares at $2.00 each, plus 12.7 million additional shares from underwriter option exercise, raising $200.4 million in gross proceeds before discounts and expenses.
2. Planned Use of Proceeds
Net proceeds will support clinical trial expenses, research and development, general and administrative costs and capital expenditures for its allogeneic CAR T therapy pipeline.
3. Underwriting Syndicate
Goldman Sachs, Jefferies and TD Cowen served as joint bookrunners, with Piper Sandler, William Blair, Baird, Canaccord Genuity and TPG Capital BD participating in the offering.
4. Strategic Implications
The infusion of capital enhances Allogene’s cash runway and accelerates development of off-the-shelf CAR T candidates, positioning it to advance multiple clinical-stage programs.