Alx Oncology Holdings Inc - ALXO STOCK NEWS

ALX Oncology announces positive Phase 2 data for evorpacept in gastric cancer treatment, with a confirmed overall response rate of 52% compared to 22% for the control group. Median duration of response was not reached for evorpacept. Safety profile consistent with previous trials. Results compare favorably to standard of care. Company plans to initiate Phase 3 study in late 2024.

ALX Oncology Holdings Inc. to share interim Phase 2 ASPEN-06 clinical trial results of evorpacept for advanced HER2-positive gastric cancer in investor call and webcast.

ALX Oncology appoints Jason Lettmann as CEO and Dr. Jaume Pons transitions to Chief Scientific Officer. Lettmann brings extensive experience in the biotechnology industry and has been involved with ALX Oncology since its founding. Pons will focus on supporting evorpacept and pipeline extension programs. Lettmann's appointment comes as the company's lead platform asset, evorpacept, advances to later stages of clinical development. Phase 2 data for evorpacept's ASPEN-06 program in HER2-positive gastric cancer is expected in Q4'23.

ALX Oncology Holdings Inc. to participate in two upcoming investor conferences.

ALX Oncology Holdings Inc. (ALXO) advances Phase 2/3 ASPEN-06 gastric cancer trial with data update expected in Q423. Terminating ASPEN-02 in MDS and ASPEN-05 in AML. Continuing focus on combinations with anti-cancer antibodies, antibody-drug conjugates, and PD-1/PD-L1 immune checkpoint inhibitors. Financial results for Q2 2023 reported.

ALX Oncology Holdings Inc. (Nasdaq: ALXO) announced that its next-generation CD47 blocker, evorpacept, has received orphan drug designation (ODD) from the European Commission for treating gastric cancer patients. This designation covers both gastric cancer and gastroesophageal junction adenocarcinoma. The U.S. FDA had previously granted ODD to evorpacept for the same indication in January 2022.

Dr. Sophia Randolph, Chief Medical Officer at ALX Oncology, highlighted the significance of this regulatory achievement and the growing recognition of evorpacept's potential in improving clinical outcomes for gastric cancer patients. The company plans to present data from ASPEN-06, a randomized Phase 2 trial of evorpacept in combination with other drugs for HER2-positive gastric cancer, in the second half of 2023.

The EC grants orphan drug designation to medicines treating rare conditions affecting no more than five in 10,000 people in the EU. This status provides financial and regulatory incentives, including ten years of market exclusivity if approved for marketing.

ALX Oncology Holdings Inc. reported financial results for Q1 2023, with cash, cash equivalents, and investments of $256.2 million. R&D expenses were $24.8 million, and G&A expenses were $7.4 million. The GAAP net loss was $30.2 million. Recent clinical developments include the initiation of multiple clinical trials for evorpacept in combination with other drugs.

ALX Oncology (Nasdaq: ALXO) recently announced a collaboration with Sanofi to evaluate the combination of evorpacept, a CD47 blocker, and SARCLISA (isatuximab-irfc) in treating patients with relapsed or refractory multiple myeloma (RRMM). This collaboration involves a Phase 1/2 study focused on assessing the safety, efficacy, and pharmacokinetics of the combination therapy. The study aims to identify the optimal dosing and evaluate its efficacy in a broader patient population. ALX will supply evorpacept while Sanofi will provide SARCLISA. This partnership represents a significant step in developing combination therapies for multiple myeloma, which currently lacks a definitive cure.