secwatch.observer — SEC 8-K summary
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Issuer:     Allogene Therapeutics, Inc. (ALLO)
CIK:        0001737287
Form:       8-K
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0001193125-24-038107
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1737287/000119312524038107/0001193125-24-038107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1737287/000119312524038107/d754358d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-038107

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