Allogene Therapeutics (ALLO - Free Report) announced that the FDA has granted Fast Track designation to its drug ALLO-605 for treatment of relapsed/refractory multiple myeloma.
ALLO-605 is Allogene’s next-generation allogeneic chimeric antigen receptor T cell (“AlloCAR T”) investigational therapy that targets the B-cell maturation antigen (“BCMA”) to treat patients with relapsed/refractory multiple myeloma and other BCMA-positive malignancies.
Fast Track is designed to facilitate the development, and speed up the review of drugs to treat serious conditions and fill an unmet medical need. ALLO-605’s fast track designation has been granted based on the drug’s potential to address unmet needs of patients who have failed other standard multiple myeloma therapies.
ALLO-605 incorporates Allogene’s proprietary TurboCAR technology, which allows for cytokine activation signaling to be engineered selectively into CAR T cells.
A phase I IGNITE dose escalation study for the drug was initiated in second-quarter 2021. The company is exploring three AlloCAR T anti-BCMA therapies to treat relapsed or refractory multiple myeloma. Other than ALLO-605, Allogene is also evaluating ALLO-715 as a monotherapy and in combination with a gamma secretase inhibitor for treating this rapidly progressing disease.
In the year so far, Allogene’s stock has risen 3.3% in comparison with the industry’s rise of 1.2%.
Both ALLO-605 and ALLO-715 utilize TALEN gene-editing technology developed and owned by Cellectis (CLLS - Free Report) . Allogene has an exclusive license to the technology, and the global development and commercial rights for allogeneic products directed at BCMA.
Allogene currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the biotech sector include BioNTech (BNTX - Free Report) and Bayer (BAYRY - Free Report) . While BioNTech carries a Zacks Rank #1, Bayer currently carries a Zacks Rank #2 (Buy).
BioNTech’s earnings estimates for 2021 have increased from $18.39 to $30.58 per share in the past 60 days while that of 2022 has risen from $7.55 to $24.90 over the same period. The stock has surged 174.6% this year so far.
Bayer’s earnings estimates for 2021 have increased from $1.74 to $1.81 per share in the past 60 days while that of 2022 has risen from $1.89 to $2.00 over the same period. The stock has risen 2.7% in the year so far.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Allogene Therapeutics (ALLO - Free Report) announced that the FDA has granted Fast Track designation to its drug ALLO-605 for treatment of relapsed/refractory multiple myeloma.
ALLO-605 is Allogene’s next-generation allogeneic chimeric antigen receptor T cell (“AlloCAR T”) investigational therapy that targets the B-cell maturation antigen (“BCMA”) to treat patients with relapsed/refractory multiple myeloma and other BCMA-positive malignancies.
Fast Track is designed to facilitate the development, and speed up the review of drugs to treat serious conditions and fill an unmet medical need. ALLO-605’s fast track designation has been granted based on the drug’s potential to address unmet needs of patients who have failed other standard multiple myeloma therapies.
ALLO-605 incorporates Allogene’s proprietary TurboCAR technology, which allows for cytokine activation signaling to be engineered selectively into CAR T cells.
A phase I IGNITE dose escalation study for the drug was initiated in second-quarter 2021. The company is exploring three AlloCAR T anti-BCMA therapies to treat relapsed or refractory multiple myeloma. Other than ALLO-605, Allogene is also evaluating ALLO-715 as a monotherapy and in combination with a gamma secretase inhibitor for treating this rapidly progressing disease.
In the year so far, Allogene’s stock has risen 3.3% in comparison with the industry’s rise of 1.2%.
Both ALLO-605 and ALLO-715 utilize TALEN gene-editing technology developed and owned by Cellectis (CLLS - Free Report) . Allogene has an exclusive license to the technology, and the global development and commercial rights for allogeneic products directed at BCMA.
Allogene currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the biotech sector include BioNTech (BNTX - Free Report) and Bayer (BAYRY - Free Report) . While BioNTech carries a Zacks Rank #1, Bayer currently carries a Zacks Rank #2 (Buy).
BioNTech’s earnings estimates for 2021 have increased from $18.39 to $30.58 per share in the past 60 days while that of 2022 has risen from $7.55 to $24.90 over the same period. The stock has surged 174.6% this year so far.
Bayer’s earnings estimates for 2021 have increased from $1.74 to $1.81 per share in the past 60 days while that of 2022 has risen from $1.89 to $2.00 over the same period. The stock has risen 2.7% in the year so far.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on BAYRY - FREE
Get the latest research report on CLLS - FREE
Get the latest research report on ALLO - FREE
Get the latest research report on BNTX - FREE