BUZZ-Allogene hits near 4-month high as FDA grants cancer therapy RMAT status

** Cancer therapy developer Allogene Therapeutics Inc's shares rise as much as 11.3% to a near four-month high of $10.56 ** U.S. FDA grants Regenerative Medicine Advanced Therapy (RMAT) designation to ALLO-501A, ALLO's therapy candidate for treatment of large B Cell Lymphoma (LBCL)

** RMAT designation follows positive data from ALLO-501A ALPHA2 phase-1 trial in heavily pretreated patients with relapsed or refractory LBCL ** Regenerative Medicine Advanced Therapy (RMAT) is a designation given by the Food and Drug Administration to drug candidates intended to treat serious or life-threatening conditions

** ALLO intends to initiate a phase 2 pivotal trial in mid-2022 ** Stock down ~30% YTD