ALX Oncology Added to Russell 2000® and 3000® Indexes

Rhea-AI Summary

ALX Oncology Holdings Inc. (Nasdaq: ALXO) announced its inclusion in the Russell 2000® and 3000® Indexes effective September 18, 2020, two months post-IPO. This inclusion is a significant milestone, enhancing visibility and awareness among investors.

The Russell Indexes are crucial benchmarks for approximately $9 trillion in assets, widely utilized by institutions for index funds and investment strategies. ALX Oncology is focused on developing therapies to block the CD47 checkpoint pathway, with its lead candidate, ALX148, showing promising clinical responses.

Positive

• Inclusion in the Russell 2000® and 3000® Indexes enhances visibility and investor awareness.
• ALX148 demonstrates promising clinical responses across various malignancies.

Negative

• None.

BURLINGAME, Calif., Sept. 17, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology”) (Nasdaq: ALXO) a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced that it will be added as a member of the Russell 2000® and 3000® Indexes, effective after the U.S. market opens tomorrow, September 18, 2020, as a part of Russell’s quarterly additions of select initial public offering (“IPO”) companies.

“We are pleased to join the Russell Indexes within just two months of our IPO,” said Peter Garcia, Chief Financial Officer of ALX Oncology. “Our inclusion validates the potential we believe investors see in ALX Oncology and will further increase the overall awareness and visibility of our stock within the investment community.”

The Russell U.S. indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. 

About ALX Oncology

ALX Oncology is a clinical-stage immuno-oncology company focused on helping patients fight cancer by developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system. ALX Oncology’s lead product candidate, ALX148, is a next generation CD47 blocking therapeutic that combines a high-affinity CD47 binding domain with an inactivated, proprietary Fc domain. ALX148 has demonstrated promising clinical responses across a range of hematologic and solid malignancies in combination with a number of leading anti-cancer agents. ALX Oncology intends to advance ALX148 into clinical development for the treatment of myelodysplastic syndromes and to continue clinical development for the treatment of a range of solid tumor indications. For more information, please visit ALX Oncology’s website at https://www.alxoncology.com/.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on ALX Oncology’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause ALX Oncology’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding investor awareness of ALX Oncology’s stock. These and other risks are described more fully in ALX Oncology’s filings with the Securities and Exchange Commission (“SEC”), including ALX Oncology’s Quarterly Report on Form 10-Q, filed with the SEC on August 27, 2020, and other documents that ALX Oncology subsequently files with the SEC from time to time. Except to the extent required by law, ALX Oncology undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

FAQ

When will ALXO be added to the Russell Indexes?

ALXO will be added to the Russell 2000® and 3000® Indexes on September 18, 2020.

What is the significance of ALXO's inclusion in the Russell Indexes?

Inclusion in the Russell Indexes increases visibility and awareness among institutional investors.

What is the market capitalization requirement for Russell Index inclusion?

The requirement typically includes being among the smallest 2,000 stocks in the U.S. equity market.

What product candidate is ALX Oncology developing?

ALX Oncology is developing ALX148, a therapy targeting the CD47 checkpoint pathway.