The ATM offering adds significant potential dilution overhang. Monitor actual sales pace via quarterly disclosures — the 3.0% agent fee and $250K estimated expenses are modest. The prior April 2026 issuance of 100.2M shares at $2.00 already signals capital needs. Watch for any clinical trial catalysts or cash runway updates in upcoming 10-Q to gauge whether full $135M will be drawn down.
Price Chart
Executive Summary
Allogene Therapeutics filed a 424B5 prospectus supplement for an at-the-market (ATM) common stock offering of up to $135,000,000 through TD Cowen. The filing discloses a pre-offering net tangible book value of $1.14 per share and projects immediate dilution of $0.69 per share for new investors at the assumed $2.00 offering price. The company also recently increased authorized shares to 800,000,000 and issued 100,200,000 shares in a prior April 2026 underwritten offering at $2.00 per share.
Key Facts
- ATM offering of up to $135,000,000 in common stock via TD Cowen
- Assumed offering price of $2.00 per share (last reported sale price on June 18, 2026)
- Pre-offering net tangible book value per share: $1.14 (as of March 31, 2026)
- Post-offering as-adjusted net tangible book value per share: $1.31 (pro forma for full $135M at $2.00)
- Immediate dilution per share to new investors: $0.69
- 100,200,000 shares already issued on April 16, 2026 at $2.00 per share in a prior underwritten offering
- Authorized shares increased to 800,000,000 on June 18, 2026
- 244,816,413 shares outstanding as of March 31, 2026
Financial Impact
Up to $135,000,000 in potential gross proceeds from ATM sales; immediate dilution of $0.69 per share (34.5%) at assumed $2.00 price; net tangible book value increases from $278.9M to $409.6M pro forma
Risk Factors
- Immediate and substantial dilution to existing shareholders
- No minimum offering amount — actual shares sold and price are uncertain
- Management has broad discretion on use of proceeds; no specific allocation
- Potential for further equity issuances if additional capital needed
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001628280-26-044616 |
| Document: 0001628280-26-044616-index-headers.html | 0001628280-26-044616 |
| Document: 0001628280-26-044616-index.html | 0001628280-26-044616 |
| Document: 0001628280-26-044616.txt | 0001628280-26-044616 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 144 | $1.25 $1.25 | · 0.00% | ▲ +0.52% | $1.21 (−3.20%) |
Sep 2, 2026 7w ago | 8-K | $1.98 $1.98 | · 0.00% | ▼ −1.05% | $1.21 (−38.89%) |
Aug 21, 2026 9w ago | 144 | $2.03 $2.17 | ▲ +6.90% | ▲ +6.58% | $1.21 (−40.39%) |
Aug 21, 2026 9w ago | EFFECT | $2.09 $2.03 | ▲ +2.87% | ▲ +2.58% | $1.21 (+42.11%) |
Aug 6, 2026 11w ago | Institutional Cluster | $1.97 $2.01 | ▲ +2.03% | ▲ +1.42% | $1.21 (−38.58%) |
Jun 22, 2026 18w ago | 8-K | $2.07 $2.05 | ▲ +0.97% | ▲ +0.92% | $1.21 (+41.55%) |
Jun 22, 2026 18w ago | 424B5 | $2.07 $2.05 | ▲ +0.97% | ▲ +0.92% | $1.21 (+41.55%) |
May 28, 2026 21w ago | DEFA14A | $2.17 $2.15 | ▼ −0.92% | ▼ −1.18% | $1.21 (−44.24%) |
May 28, 2026 21w ago | 8-K | $2.17 $2.15 | ▼ −0.92% | ▼ −1.18% | $1.21 (−44.24%) |
May 28, 2026 21w ago | Press Release | $2.17 $2.15 | ▼ −0.92% | ▼ −1.20% | $1.21 (−44.24%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers