Allogene shares jump 41% on strong Phase 2 trial results for lymphoma therapy cema-cel with excellent safety profile.

Allogene Therapeutics' shares surged over 41% after interim Phase 2 ALPHA3 trial results showed 58.3% MRD negativity in lymphoma patients treated with cema-cel, compared to 16.7% in observation. The therapy demonstrated a clean safety profile with no cytokine release syndrome or neurotoxicity, distinguishing it from other CAR T treatments. Baird raised its price target to $9 and increased the therapy's success probability to 70%. The trial continues with full results expected by 2028, potentially supporting future regulatory approval.