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Allogene Therapeutics Presents Promising Phase 1 Data for ALLO-316 in Renal Cell Carcinoma

On June 1, Allogene Therapeutics Inc. (NASDAQ:ALLO) presented updated data from the Phase 1 TRAVERSE study of ALLO-316 in advanced or metastatic renal cell carcinoma/RCC during an oral presentation at the 2025 ASCO Annual Meeting. ALLO-316 is an allogeneic CAR T product that uses Allogene’s proprietary Dagger technology to enable CAR T cell expansion.

A biotechnologist in a laboratory testing an Immuno-oncology treatment.

ALLO-316 has shown promise as the first allogeneic CAR T in solid tumors. The presentation focused on the Phase 1b expansion cohort of the TRAVERSE study. It included 22 heavily pretreated patients whose tumors had progressed on multiple prior therapies. Of these, 20 patients received a single dose of 80 million AlloCAR T cells following a standard cyclophosphamide and fludarabine lymphodepletion regimen. All patients had tumors resistant to immune checkpoint blockers and at least one tyrosine kinase inhibitor/TKI, with 82% having received two or more prior TKIs and 41% having received prior belzutifan. 16 of the ALLO-316-treated patients had a high CD70 Tumor Proportion Score (>50%).

The safety profile of ALLO-316 was also manageable. ALLO-316 targets CD70, which is highly expressed in RCC and other cancers. The FDA granted ALLO-316 Regenerative Medicine Advanced Therapy/RMAT designation earlier in October 2024 and Fast Track Designation/FTD in March 2023. Additionally, in April 2024, Allogene received an award from the California Institute for Regenerative Medicine/CIRM to support the ongoing TRAVERSE trial.

Allogene Therapeutics Inc. (NASDAQ:ALLO) is a clinical-stage immuno-oncology company that develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer and autoimmune diseases. The company has license and collaboration agreements with Pfizer Inc., Servier, Cellectis, and Notch Therapeutics Inc.

While we acknowledge the potential of ALLO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ALLO and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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