GlobeNewswire Inc | Oct 11, 2021 03:18PM EDT

October 11, 2021

NEW YORK, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Allogene Therapeutics, Inc. (Allogene or the Company) (NASDAQ:ALLO). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Allogene and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On October 7, 2021, post-market, Allogene issued a press release reporting that the U.S. Food and Drug Administration (FDA) had placed a hold on the Companys clinical trials of allogeneic CAR T (AlloCAR T) therapies for cancer. The press release stated that the clinical hold follows the Companys notification to the FDA of a chromosomal abnormality in an ALPHA2 study patient which was detected in a bone marrow biopsy undertaken to assess pancytopenia (low blood counts) and that [a] n investigation is underway to further characterize the observed abnormality, including any clinical relevance, evidence of clonal expansion, or potential relationship to gene editing. On this news, Allogenes stock price dropped sharply during intraday trading on October 8, 2021, damaging investors.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980