Allogene Therapeutics Enters Material Definitive Agreement
Ticker: ALLO · Form: 8-K · Filed: May 31, 2024 · CIK: 1737287
| Field | Detail |
|---|---|
| Company | Allogene Therapeutics, Inc. (ALLO) |
| Form Type | 8-K |
| Filed Date | May 31, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $117 million, $40 million, $115 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
Related Tickers: ALLO
TL;DR
ALLO signed a big deal, details TBD.
AI Summary
Allogene Therapeutics, Inc. announced on May 24, 2024, that it entered into a Material Definitive Agreement. The filing does not disclose the specific details of this agreement, only that it is a significant definitive contract.
Why It Matters
This filing indicates a significant new contract for Allogene Therapeutics, which could impact its future operations and financial standing.
Risk Assessment
Risk Level: medium — The lack of specific details about the material definitive agreement introduces uncertainty regarding its terms and potential impact.
Key Players & Entities
- Allogene Therapeutics, Inc. (company) — Registrant
- May 24, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the Material Definitive Agreement entered into by Allogene Therapeutics?
The filing states that Allogene Therapeutics, Inc. entered into a Material Definitive Agreement on May 24, 2024, but does not provide specific details about the agreement's nature or terms.
When was the Material Definitive Agreement reported?
The earliest event reported in this 8-K filing, which is the entry into the Material Definitive Agreement, occurred on May 24, 2024.
What is the company's principal executive office address?
The address of Allogene Therapeutics, Inc.'s principal executive offices is 210 East Grand Avenue, South San Francisco, California 94080.
What is the company's IRS Employer Identification Number?
The IRS Employer Identification Number for Allogene Therapeutics, Inc. is 82-3562771.
What is the SIC code for Allogene Therapeutics, Inc.?
The Standard Industrial Classification (SIC) code for Allogene Therapeutics, Inc. is 2836, which corresponds to Biological Products (No Diagnostic Substances).
Filing Stats: 1,514 words · 6 min read · ~5 pages · Grade level 15 · Accepted 2024-05-31 16:31:10
Key Financial Figures
- $0.001 — ge on which registered Common Stock, $0.001 par value per share ALLO The Nasdaq Sto
- $117 million — e Agreement"), and Overland contributed $117 million in upfront and certain quarterly cash p
- $40 million — ents. In return, the Company received a $40 million upfront payment and Seed Preferred Shar
- $115 million — lestones and royalties consist of up to $115 million in milestone payments for each Licensed
Filing Documents
- allo-20240524.htm (8-K) — 31KB
- 0001737287-24-000046.txt ( ) — 155KB
- allo-20240524.xsd (EX-101.SCH) — 2KB
- allo-20240524_lab.xml (EX-101.LAB) — 21KB
- allo-20240524_pre.xml (EX-101.PRE) — 12KB
- allo-20240524_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On May 24, 2024, Allogene Therapeutics, Inc. (the "Company"), Overland Pharmaceuticals (CY) Inc. ("Overland") and Allogene Overland Biopharm (CY) Limited (the "JV Company") entered into a Share Exchange Agreement pursuant to which Overland's cell therapy business merged into the JV Company (the "Organizational Restructuring"). As background, the JV Company was originally formed on December 14, 2020 by Overland and the Company. Upon formation of the JV Company, the Company contributed an exclusive license to develop, manufacture and commercialize specific Company product candidates targeting BCMA, CD70, FLT3 and DLL3 (the "Licensed Products") in China, Taiwan, South Korea and Singapore (the "Territory"), with the Company retaining exclusive rights to the Licensed Products outside the Territory (the "Exclusive License Agreement"), and Overland contributed $117 million in upfront and certain quarterly cash payments. In return, the Company received a $40 million upfront payment and Seed Preferred Shares representing 49% of the JV Company's outstanding stock and Overland received Seed Preferred Shares representing 51% of the JV Company's outstanding stock. Under the Share Exchange Agreement, the JV Company acquired from Overland a 100% equity interest in Overland Pharmaceuticals (US) Inc. ("Overland US"). Overland US includes certain research and development, clinical, and general and administrative staff, as well as select cell therapy assets, including its lead program, OL-101, an autologous GPRC5D-BCMA bispecific dual targeting CAR-T for refractory multiple myeloma. Upon completion of the closing of the share exchange, Overland US became a wholly owned subsidiary of the JV Company, Overland's ownership increased to 81.54%, the Company's ownership decreased to 18%, and the Ordinary Shares issuable under the share incentive plan of the JV Company equaled 0.46% of the capitalization of the JV Company on an as-con
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ALLOGENE THERAPEUTICS, INC. By: /s/ David Chang, M.D., Ph.D. David Chang, M.D., Ph.D. President, Chief Executive Officer Dated: May 31, 2024