Allogene Therapeutics, Inc. (ALLO) A Top Penny Stock to Buy on Robust CAR T-Cell Portfolio

Allogene Therapeutics, Inc. (NASDAQ:ALLO) is one of the top penny stocks to buy in investors’ stock portfolio. On May 13, Allogene Therapeutics, Inc. (NASDAQ:ALLO) reiterated positive interim results in the ALPHA3 trial of cemacabtagene ansegedleucel (cema-cel), its investigational, allogeneic CAR T-cell therapy targeting CD19.

Allogene Therapeutics, Inc. (ALLO) A Top Penny Stock to Buy on Robust CAR T-Cell Portfolio

In ongoing trials, Cema-cel was well tolerated, with no treatment-related serious adverse events. In addition, there were no cases of cytokine release syndrome, let alone immune effector cell-associated neurotoxicity syndrome. Additionally, the company is working on ALLO-329, a purpose-built Allogeneic CAR-T for autoimmune disease. The therapy incorporates the company’s proprietary Dagger technology.

Amid pipeline development, Allogene Therapeutics spent $32 million in research and development expenses in the first quarter, including $2.7 million of non-cash stock-based compensation expenses. The company exited the quarter with a net loss of $42.6 million, or $0.18 per share. It also had $266.9 million in cash and cash equivalents, which acts as a sufficient cash runway into the first quarter of 2029.

Allogene Therapeutics, Inc. (NASDAQ:ALLO) is a clinical-stage biotechnology company pioneering “off-the-shelf” CAR T cell therapies (AlloCAR T) for the treatment of blood cancers, solid tumors, and autoimmune diseases.

While we acknowledge the risk and potential of ALLO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ALLO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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