ALX Oncology Holdings Inc. - ALXO STOCK NEWS

BURLINGAME, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc. (Nasdaq: ALXO) announced participation in two virtual investor conferences. The first is the UBS 2021 Global Healthcare Virtual Conference on May 24 at 4:00 PM ET, featuring a podium presentation. The second is the Jefferies 2021 Virtual Healthcare Conference on June 2 at 1:30 PM ET, structured as a fireside chat with analyst Michael Yee. Webcasts for both events will be available on the ALX Oncology website with replays accessible for 90 days.

ALX Oncology focuses on CD47 checkpoint therapies, with lead candidate ALX148 showing promising clinical results.

ALX Oncology Holdings reported a net loss of $14.2 million for Q1 2021, worsening from the prior year's loss of $7.4 million. Cash and cash equivalents totaled $429.9 million, sufficient to fund operations through 2024. Significant progress was made with the initiation of the Phase 2 ASPEN-03 study evaluating ALX148 in combination with KEYTRUDA for HNSCC. The company also strengthened its IP portfolio with a U.S. patent covering ALX148, set to expire in 2036. R&D expenses surged to $9.8 million, primarily due to increased clinical costs related to ALX148.

ALX Oncology has initiated the first Phase 2 study in collaboration with Merck, dosing the first patient in the ASPEN-03 trial. This trial evaluates the efficacy of ALX148 in combination with KEYTRUDA for treating advanced head and neck squamous cell carcinoma (HNSCC). ASPEN-03 is a randomized, open-label study building on promising data from the Phase 1 ASPEN-01 study, which led to Fast Track designation from the FDA for ALX148 in HNSCC. The trial aims to accelerate development in various cancer indications.

ALX Oncology (Nasdaq: ALXO) announced an upcoming oral presentation of their Phase 1b study results for ALX148 at the ESMO World Congress on Gastrointestinal Cancer, scheduled for July 3, 2021. The study evaluates ALX148 in combination with trastuzumab, ramucirumab, and paclitaxel for patients with advanced gastric or gastroesophageal junction cancer. This presentation may highlight the therapeutic potential of ALX148 and its impact on treatment outcomes for patients, while contributing to the ongoing clinical development of their immuno-oncology pipeline.

ALX Oncology announced the end of the post-grant review period for U.S. Patent 10,696,730 concerning the composition of matter for ALX148, effective March 30, 2021. This patent secures coverage for ALX148 until at least 2036, bolstering its intellectual property. ALX148 is designed to enhance anti-cancer therapy effectiveness, demonstrating promise in both solid tumors and hematologic malignancies. The patent reinforces confidence as the company prepares for Phase 2 studies in various cancer types, including myelodysplastic syndromes and head and neck cancers.

ALX Oncology Holdings Inc. (ALXO) reported its financial results for Q4 and FY 2020, highlighting progress with its lead candidate ALX148 in immuno-oncology. Positive Phase 1b data showed promise in treating solid tumors, including gastric and head and neck cancers. The company plans to report full Phase 1b results and initiate multiple clinical trials in 2021, including two Phase 2 studies in HNSCC and a collaboration with Zymeworks. Despite these advancements, the company reported a net loss of $50.9 million for FY 2020, a significant increase from $23.3 million in 2019.

ALX Oncology (Nasdaq: ALXO) announced the appointment of Sophia Randolph, M.D., Ph.D., to its Board of Directors. As the current Chief Medical Officer, Dr. Randolph has over 15 years of biopharmaceutical experience, including leadership roles at Pfizer and Merck. Her expertise will enhance the board's capabilities as the company prepares for multiple clinical trials this year. This strategic addition aims to strengthen corporate strategy and drive clinical development of ALX148, a promising treatment targeting the CD47 checkpoint pathway.

ALX Oncology (Nasdaq: ALXO) has partnered with Tallac Therapeutics to co-develop a novel cancer immunotherapeutic, SIRPα TRAAC. This collaboration aims to create a first-in-class anti-SIRPα antibody conjugated to a TLR9 agonist, enhancing the company’s immuno-oncology pipeline targeting the CD47 checkpoint pathway. Both firms will equally share development costs and potential profits. The initiative is set to potentially revolutionize cancer treatment by leveraging innate and adaptive immune responses. A conference call is scheduled for March 5, 2021, to discuss further details.

BURLINGAME, Calif., March 02, 2021 – ALX Oncology Holdings Inc. (Nasdaq: ALXO) announced participation in a fireside chat at H.C. Wainwright’s Global Life Sciences Conference on March 9-10, 2021. Jaume Pons, Ph.D., and senior executives will provide insights during the virtual event. A prerecorded chat is set to release on March 9, 2021, at 7:00 a.m. Eastern Time, accessible via ALX Oncology's website. ALX Oncology focuses on immuno-oncology, developing therapies to block the CD47 checkpoint pathway, with its lead candidate ALX148 showing promising clinical results.