Allogene Therapeutics, Inc. ALLO incurred loss of 25 cents per share in first-quarter 2021, narrower than the Zacks Consensus Estimate of 48 cents as well as the year-ago quarter’s loss of 50 cents.The company recorded revenues of $38.3 million during the quarter beating the Zacks Consensus Estimate of $24.5 million. The company did not record any revenues in the year-ago quarter.Shares of Allogene were up 1.7% in afterhours trading on May 5 in response to the strong first-quarter results. The company’s stock has gained 13.7% so far this year against the industry’s decrease of 6%.Quarter in DetailResearch & development (R&D) expenses were $55.2 million, up 31.3% from the year-ago quarter.General and administrative (G&A) expenses increased 4.6% year over year to $16.4 million.The company had $964.2 million in cash, cash equivalents and investments as of Mar 31, 2021, compared with $1 billion at the end of Dec 30, 2020Maintains 2021 GuidanceAllogene maintained its previous guidance for operating expenses for 2021, which is expected to be between $300 million and $330 million.Pipeline UpdateAllogene has four pipeline candidates in early-stage of clinical development, including three CAR T cell product candidates — ALLO-501, ALLO-501A and ALLO-715 — and a monoclonal antibody (mAB), ALLO-647. Please note that the company utilizes ALLO-647 as part of its differentiated lymphodepletion regimen in clinical studies evaluating ALLO-501 or ALLO-715.A phase I study — UNIVERSAL — is evaluating ALLO-715 in combination with ALLO-647 in patients with relapsed/refractory multiple myeloma (r/rMM). During the first quarter, the company started enrolling patients in the newly-approved cohort of the UNIVERSAL study to evaluate ALLO-715 in combination with SpringWorks Therapeutics’ SWTX late-stage candidate, nirogacestat, as a potential treatment for r/rMM.Meanwhile, Allogene initiated a phase I study — TRAVERSE — to evaluate its first CAR T candidate for solid tumors, ALLO-316, during the reported quarter. The company also plans to initiate a clinical study this year to evaluate its first anti-BCMA TurboCAR T cell therapy, ALLO-605, in r/rMM in 2021. The candidate has the potential to improve efficacy, overcome cell exhaustion, and reduce dosing requirements of AlloCAR T therapy.The company plans to announce initial data from the phase I ALPHA2 study evaluating ALLO-501A in the second quarter. It intends to start a pivotal, phase II study on the candidate, subject to positive data and regulatory approvals, by the end of this year.Allogene Therapeutics, Inc. Price, Consensus and EPS Surprise Allogene Therapeutics, Inc. price-consensus-eps-surprise-chart | Allogene Therapeutics, Inc. QuoteZacks Rank & Other Key PicksAllogene currently has a Zacks Rank #2 (Buy).Some other top-ranked stocks from the biotech sector are Atea Pharmaceuticals, Inc. AVIR and Nabriva Therapeutics AG NBRV, both carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Atea’s earnings per share estimates have moved up from $3.79 to $8.34 for 2021 and from $16.76 to $17.25 for 2022 in the past 30 days. The stock has soared 757.3% in the past year.Nabriva’s loss per share estimates narrowed from $2.03 to $1.95 for 2021 and from $1.35 to $1.22 for 2022 in the past 30 days. The company delivered an earnings surprise of 46.50%, on average, in the last four quarters.Zacks Top 10 Stocks for 2021In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.AccessZacks Top 10 Stocks for 2021 today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nabriva Therapeutics AG (NBRV): Free Stock Analysis Report Atea Pharmaceuticals, Inc. (AVIR): Free Stock Analysis Report Allogene Therapeutics, Inc. (ALLO): Free Stock Analysis Report SpringWorks Therapeutics Inc. (SWTX): Free Stock Analysis Report To read this article on Zacks.com click here.