Welcome to our dedicated page for ALX Oncology Holdings news (Ticker: ALXO), a resource for investors and traders seeking the latest updates and insights on ALX Oncology Holdings stock.
ALX Oncology Holdings Inc. (Nasdaq: ALXO) is a forward-thinking clinical-stage immuno-oncology company committed to developing innovative therapies to aid cancer patients. The company is at the forefront of therapeutic advancements by targeting the CD47 immune checkpoint pathway, which cancer cells exploit to avoid detection and elimination by the immune system.
Lead Product Candidate: Evorpacept
ALX Oncology’s flagship product, evorpacept, is a next-generation CD47 blocker designed to overcome limitations inherent in other CD47 blocking approaches. Evorpacept combines a high-affinity CD47 binding domain with an inactivated Fc region, ensuring minimal hematologic toxicity while enabling higher dosage. This design aims to augment the immune response against cancer cells.
Clinical Trials and Achievements
Evorpacept is being evaluated in multiple clinical trials—including Phase 1 and Phase 2 trials—across a spectrum of hematologic and solid malignancies. The ASPEN-06 Phase 2 clinical trial for HER2-positive gastric/gastroesophageal junction cancer has shown promising results, demonstrating an overall response rate of 52% compared to 22% for the control group.
Another significant milestone was achieved in the ASPEN-07 trial, where evorpacept was combined with PADCEV® (enfortumab vedotin) in patients with advanced bladder cancer. The combination demonstrated promising activity with a 61% overall response rate. This study, among others, highlights evorpacept's potential to work synergistically with antibody-drug conjugates (ADCs) and checkpoint inhibitors.
Financial Health and Corporate Development
ALX Oncology has maintained a robust financial position, reporting $184.5 million in cash, cash equivalents, and investments as of the first quarter of 2024. The company recently completed a public offering, generating gross proceeds of approximately $63.2 million. This financial strength supports its extensive clinical pipeline and ongoing research efforts.
Strategic Partnerships and Future Outlook
The company collaborates with leading institutions and pharmaceutical companies to enhance its therapeutic offerings. Upcoming milestones include top-line results from multiple Phase 2 clinical trials and the initiation of a Phase 3 registrational trial. ALX Oncology is poised to make significant strides in the oncology landscape by focusing on therapies that bridge the innate and adaptive immune systems.
For more information, visit the company’s official website at www.alxoncology.com.
ALX Oncology Holdings (Nasdaq: ALXO) announced that its Compensation Committee granted an inducement stock option to purchase 600,000 shares of common stock to new Chief Financial Officer Harish Shantharam, effective January 21, 2025. The stock option, granted under the company's 2025 Inducement Equity Incentive Plan, has an exercise price of $1.65 per share, matching the closing price on the grant date.
The vesting schedule includes 25% of shares vesting after one year from the grant date, with the remaining shares vesting monthly at one forty-eighth of the total over the following three years, contingent on continued employment. The grant was made as a material inducement for employment in accordance with Nasdaq Listing Rule 5635(c)(4).
ALX Oncology Holdings has announced pivotal additions to its leadership team and Board of Directors. Harish Shantharam has been appointed as Chief Financial Officer (CFO), bringing over 20 years of experience in financial and commercial functions within the biotech industry. Shantharam's notable roles include CFO at CymaBay Therapeutics and various senior positions at Gilead Sciences.
Additionally, Barbara Klencke, M.D., and Chris H. Takimoto, M.D., Ph.D., FACP, join the Board of Directors. Dr. Klencke has over 30 years of experience in oncology drug development, with executive roles at Sierra Oncology and Onyx Pharmaceuticals. Dr. Takimoto, with over 30 years in oncology and pharmacology, currently serves as Global Chief Medical Officer at the START Center for Cancer Research and has held significant positions at Gilead Sciences and Janssen/Johnson & Johnson.
These appointments follow the recent additions of Alan Sandler, M.D., as Chief Medical Officer, and Allison Dillon, Ph.D., as Chief Business Officer. CEO Jason Lettmann highlighted the new appointees' extensive experience in finance, clinical development, and business operations as important for advancing ALX's lead candidate, evorpacept, into late-stage clinical trials in 2025.
ALX Oncology (ALXO) announced a virtual event scheduled for January 23, 2025, at 1:00 p.m. PT/4:00 p.m. ET to discuss updated data from their ASPEN-06 Phase 2 clinical trial. The trial evaluates evorpacept, their CD47-blocker, in patients with previously treated HER2-positive advanced gastric cancer or gastroesophageal junction cancer.
The data will be presented earlier the same day at the 2025 ASCO GI Symposium in a Rapid Oral Abstract Session. Dr. Kohei Shitara, Director of Gastrointestinal Oncology at National Cancer Center Hospital East in Japan, will present the final analysis of the randomized phase 2 part of the study. The presentation is scheduled for 9:15 a.m. – 10:00 a.m. PT.
ALX Oncology Holdings (Nasdaq: ALXO), a clinical-stage biotechnology company focused on developing immune system-boosting cancer therapies, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. CEO Jason Lettmann will present a company overview on Wednesday, January 15, 2025, at 3:00 p.m. Pacific Time.
The presentation will be accessible via live webcast through a direct link and the Investors section of ALX Oncology's website under the Events section of the News and Events tab. A replay of the presentation will remain available for up to 30 days after the event.
ALX Oncology (Nasdaq: ALXO) announced that updated results from its Phase 2 ASPEN-06 clinical trial will be presented at the 2025 ASCO Gastrointestinal Cancers Symposium. The trial evaluates evorpacept, a CD47-blocking therapeutic, in combination with trastuzumab, CYRAMZA® (ramucirumab) and paclitaxel for treating HER2-positive gastric/gastroesophageal junction cancer patients who previously received anti-HER2 therapy.
The presentation will be delivered by Dr. Kohei Shitara from the National Cancer Center Hospital East in Japan on January 23, 2025. The study results will be presented during the Rapid Oral Abstract Session focusing on Cancers of the Esophagus and Stomach.
ALX Oncology (ALXO) announced a virtual event scheduled for December 17, 2024, at 8:00 AM EST to discuss new clinical data from their Phase 1b/2 trial. The trial evaluates evorpacept, their CD47-blocker, in combination with Jazz Pharmaceuticals' zanidatamab for treating heavily pretreated patients with metastatic breast cancer. The data was presented at the 2024 San Antonio Breast Cancer Symposium (SABCS).
The event will feature Dr. Alberto J. Montero, Clinical Director of Breast Cancer Medical Oncology at University Hospitals Seidman Cancer Center, who will present the data and participate in a fireside chat with ALX's Chief Medical Officer, Dr. Alan Sandler. CEO Jason Lettmann will discuss the company's progress and upcoming milestones for the evorpacept program.
ALX Oncology (Nasdaq: ALXO) announced promising results from a Phase 1b/2 clinical trial evaluating evorpacept in combination with zanidatamab for HER2-positive breast cancer. The study showed significant efficacy in heavily pretreated patients, with a 55.6% confirmed objective response rate and 7.4 months median progression-free survival in HER2-positive patients by central assessment.
The trial included three cohorts: HER2-positive breast cancer patients (n=21), HER2-low breast cancer patients (n=15), and other HER2-expressing cancers (n=8). Most treatment-related adverse events were grade 1 or 2, with common effects including fatigue, nausea, diarrhea, and infusion-related reactions. No treatment-related deaths or non-infectious pulmonary toxicities were reported.
ALX Oncology (Nasdaq: ALXO) has announced its participation in the Piper Sandler 36th Annual Healthcare Conference in New York City. CEO Jason Lettmann will engage in a fireside chat with analyst Christopher Raymond on December 3, 2024, at 9:30 AM EST. The event will also include one-on-one meetings.
The fireside chat will be accessible via webcast through ALX Oncology's website investor section, with a replay available for up to 90 days following the event. ALX Oncology is a clinical-stage biotechnology company focused on developing immune system-boosting cancer therapies to extend patient lives.
ALX Oncology Holdings (Nasdaq: ALXO) has appointed Alan Sandler, M.D. as Chief Medical Officer. Dr. Sandler brings over 30 years of experience in oncology and drug development, having previously served as Executive Vice President and CMO at Mirati Therapeutics, President and Global Head of Development in Oncology at Zai Lab, and Senior Vice President at Genentech. He will lead the clinical development of evorpacept, the company's investigational lead compound, into late-stage clinical trials. Dr. Sandler, who previously served on ALX Oncology's Board of Directors, has co-authored over 300 publications and holds an M.D. from Rush Medical College.
ALX Oncology (NASDAQ: ALXO) reported Q3 2024 financial results and clinical progress. The company's lead candidate evorpacept showed promising results in the ASPEN-06 Phase 2 trial, achieving a 40.3% overall response rate compared to 26.6% in the control arm for HER2-positive gastric cancer treatment.
Financial highlights include cash position of $162.6 million, sufficient until Q1 2026. Q3 net loss was $30.7 million ($0.58 per share), improved from $51.0 million loss year-over-year. R&D expenses decreased to $26.5 million from $45.8 million, while G&A expenses reduced to $6.1 million from $7.5 million.
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