---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-038107"
form_type: "8-K"
ticker: "ALLO"
cik: "0001737287"
company_name: "Allogene Therapeutics, Inc."
filed_at: "2024-02-16T23:59:59+00:00"
generated_at: "2026-06-06T00:18:42.274187+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Allogene restates 2020-2022 financials; material weakness in ICFR identified

## Summary
- Audit Committee determined 2020-2022 annual and 2021-2023 quarterly reports should no longer be relied upon.
- Error: equity method investment in Allogene Overland (49% stake) initially recorded at zero; should be fair value.
- Restatement will record non-cash adjustments for seed preferred shares fair value and share of JV losses.
- Management and EY concluded internal control over financial reporting was ineffective; material weakness identified.
- Company targets filing restated 2022 10-K by March 14, 2024; no impact on cash or cash equivalents.

## SEC filing metadata
- accession: 0001193125-24-038107
- form_type: 8-K
- ticker: ALLO
- cik: 0001737287
- company_name: Allogene Therapeutics, Inc.
- filed_at: 2024-02-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1737287/000119312524038107/0001193125-24-038107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1737287/000119312524038107/d754358d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-038107
- JSON: https://secwatch.observer/filing/0001193125-24-038107.json
- Plain text: https://secwatch.observer/filing/0001193125-24-038107.txt

## Key facts
- Auditor Changes
  Allogene Therapeutics, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Ernst & Young LLP
  source text: on February 14, 2024, the Company’s Audit Committee of the Board of Directors of the Company (the “Audit Committee”) determined, based on management’s recommendation and after consultation with Ernst & Young LLP, the Company’s independent registered public accounting firm, that the Seed Preferred Shares should have been initially measured at fair value, and the accounting for the Seed Preferred Shares should be restated. As a result, the Audit Committee also determined that the Company’s financial statements for the years ended December 31, 2020, 2021 and 2022, and in each of the Company’s quarterly reports on Form 10-Q filed with the SEC in 2021, 2022 and 2023 (collectively, the “Restatement Periods”), should no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/1737287/000119312524038107/0001193125-24-038107-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.