The $135M ATM offering represents roughly 20% of current market cap ($690M) and could pressure the stock if executed aggressively. The doubling of authorized shares from 400M to 800M provides ample room for further dilution. Monitor actual share sales under the ATM program and any subsequent pipeline or cash-burn updates from the company.
Price Chart
Executive Summary
Allogene Therapeutics held its 2026 Annual Meeting on June 18, 2026, where stockholders approved an amendment to increase authorized common shares from 400M to 800M and re-elected three Class II directors. Separately, on June 22, 2026, the company filed a prospectus supplement for an at-the-market (ATM) offering of up to $135M in common stock under its existing Sales Agreement with TD Securities.
Key Facts
- Authorized common shares doubled from 400,000,000 to 800,000,000 via charter amendment effective June 18, 2026
- Prospectus supplement filed June 22, 2026 for up to $135.0 million in common stock sales under existing ATM agreement with TD Securities
- 345,024,351 shares were outstanding and entitled to vote as of April 20, 2026 record date
- Three Class II directors re-elected: Deborah Messemer, Vicki Sato, Owen Witte
- Say-on-pay approved with 1-year frequency preference; next vote no later than 2032
Financial Impact
Up to $135M in potential dilution from ATM offering; authorized share pool doubled from 400M to 800M
Risk Factors
- Significant dilution risk from up to $135M in ATM sales relative to $690M market cap
- Potential for further equity raises given expanded authorized share count
- No revenue or earnings data in this filing; pre-revenue biotech with ongoing cash needs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-044618 |
| Exhibit: exhibit51toformjune2026pro.htm | 0001628280-26-044618 |
| Exhibit: exhibit31toform2026annualm.htm | 0001628280-26-044618 |
| Document: 0001628280-26-044618-index-headers.html | 0001628280-26-044618 |
| Document: 0001628280-26-044618-index.html | 0001628280-26-044618 |
| Document: 0001628280-26-044618.txt | 0001628280-26-044618 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 144 | $1.25 $1.25 | · 0.00% | ▲ +0.52% | $1.25 (0.00%) |
Sep 2, 2026 7w ago | 8-K | $1.98 $1.98 | · 0.00% | ▼ −1.05% | $1.25 (−36.87%) |
Aug 21, 2026 9w ago | 144 | $2.03 $2.17 | ▲ +6.90% | ▲ +6.58% | $1.25 (−38.42%) |
Aug 21, 2026 9w ago | EFFECT | $2.09 $2.03 | ▲ +2.87% | ▲ +2.58% | $1.25 (+40.19%) |
Aug 6, 2026 11w ago | Institutional Cluster | $1.97 $2.01 | ▲ +2.03% | ▲ +1.42% | $1.25 (−36.55%) |
Jun 22, 2026 18w ago | 8-K | $2.07 $2.05 | ▲ +0.97% | ▲ +0.92% | $1.25 (+39.61%) |
Jun 22, 2026 18w ago | 424B5 | $2.07 $2.05 | ▲ +0.97% | ▲ +0.92% | $1.25 (+39.61%) |
May 28, 2026 21w ago | DEFA14A | $2.17 $2.15 | ▼ −0.92% | ▼ −1.18% | $1.25 (−42.40%) |
May 28, 2026 21w ago | 8-K | $2.17 $2.15 | ▼ −0.92% | ▼ −1.18% | $1.25 (−42.40%) |
May 28, 2026 21w ago | Press Release | $2.17 $2.15 | ▼ −0.92% | ▼ −1.20% | $1.25 (−42.40%) |
US Market Status
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