Allogene Therapeutics Inc. (NASDAQ: ALLO) announced plans for an underwritten public offering of $175 million in common stock shares. The biotechnology company also intends to grant underwriters a 30-day option to purchase up to an additional $26.25 million of shares.

The company stated it expects to use net proceeds for general corporate purposes, including clinical trial expenses, research and development expenses, general and administrative expenses, and capital expenditures.

Goldman Sachs & Co. LLC, Jefferies and TD Cowen are serving as joint book-running managers for the offering, while TPG Capital BD, LLC acts as co-manager.

The shares are being offered under a shelf registration statement filed with the Securities and Exchange Commission that was declared effective on April 25, 2024. The company noted there is no assurance regarding whether or when the offering may be completed, or the actual size or terms of the offering.

Allogene Therapeutics, based in South San Francisco, is a clinical-stage biotechnology company developing allogeneic chimeric antigen receptor T cell products for cancer and autoimmune disease treatment.