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Allogene Therapeutics, Inc. (NASDAQ:ALLO) is one of the top penny stocks to buy in investors’ stock portfolio. On May 13, Allogene Therapeutics, Inc. (NASDAQ:ALLO) reiterated positive interim results in the ALPHA3 trial of cemacabtagene ansegedleucel (cema-cel), its investigational, allogeneic CAR T-cell therapy targeting CD19.

In ongoing trials, Cema-cel was well tolerated, with no treatment-related serious adverse events. In addition, there were no cases of cytokine release syndrome, let alone immune effector cell-associated neurotoxicity syndrome. Additionally, the company is working on ALLO-329, a purpose-built Allogeneic CAR-T for autoimmune disease. The therapy incorporates the company’s proprietary Dagger technology.

Amid pipeline development, Allogene Therapeutics spent $32 million in research and development expenses in the first quarter, including $2.7 million of non-cash stock-based compensation expenses. The company exited the quarter with a net loss of $42.6 million, or $0.18 per share. It also had $266.9 million in cash and cash equivalents, which acts as a sufficient cash runway into the first quarter of 2029.

Allogene Therapeutics, Inc. (NASDAQ:ALLO) is a clinical-stage biotechnology company pioneering “off-the-shelf” CAR T cell therapies (AlloCAR T) for the treatment of blood cancers, solid tumors, and autoimmune diseases.

While we acknowledge the potential of ALLO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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