Alx Oncology Holdings Inc Stock Price, News & Analysis

BURLINGAME, Calif., Nov. 12, 2020 -- ALX Oncology (ALXO) reported Q3 2020 financial results, revealing a net loss of $10.8 million compared to $4.1 million in Q3 2019. Cash reserves stand at $259.5 million, projected to sustain operations through 2023. Clinical updates include the initiation of a Phase 1/2 study of ALX148 with azacitidine and promising results in advanced gastric cancer, showing a 64% objective response rate (ORR) in combination with trastuzumab. Collaboration with Merck for ALX148 and KEYTRUDA in head and neck cancer further solidifies its clinical development pipeline.

ALX Oncology announced promising results from its ASPEN-01 study at the SITC 35th Annual Meeting. For patients with >2L HER2 positive gastric cancer, a 64% objective response rate (ORR) was observed using ALX148 with trastuzumab and chemotherapy. Additionally, a 75% ORR, including one complete response, was seen in treatment-naïve patients with 1L head and neck cancer using ALX148 plus pembrolizumab and chemotherapy. Preliminary data indicates that ALX148 can be safely combined with existing regimens, reinforcing its potential in advanced cancers.

ALX Oncology announced updated results from the ASPEN-01 phase 1b study of ALX148 in combination with rituximab for patients with relapsed/refractory non-Hodgkin lymphoma (NHL). Both clinical and preclinical results will be presented at the 62nd ASH Annual Meeting on December 5-8, 2020. The clinical updates aim to showcase new efficacy data for ALX148, demonstrating its potential to transform cancer care. The poster presentations will occur on December 6 and 7, detailing the performance of ALX148 in improving treatment responses.

ALX Oncology Holdings Inc. (Nasdaq: ALXO) announced participation in two upcoming virtual investor conferences. CEO Jaume Pons and senior executives will engage in fireside chats at the 29th Annual Credit Suisse Virtual Healthcare Conference on November 9 and the Jefferies Virtual London Healthcare Conference on November 19. ALX Oncology is focused on developing therapies that inhibit the CD47 checkpoint pathway, with its lead product candidate, ALX148, showing promising clinical results against various cancers. Webcast links are provided for interested investors.

ALX Oncology (Nasdaq: ALXO) has initiated the Phase 1/2 ASPEN-02 study to evaluate the safety and efficacy of ALX148 combined with azacitidine for treating higher-risk myelodysplastic syndrome (MDS). The first patient has been dosed in this clinical trial, which is based on promising preclinical and clinical data. The trial aims to assess the safety of this combination in patients with previously untreated or relapsed MDS. If successful, the Phase 2 component will follow, focusing on efficacy. ALX148 has previously shown potential in multiple malignancies.

ALX Oncology Holdings Inc. (Nasdaq: ALXO) has established a Scientific Advisory Board (SAB) featuring three renowned oncology experts to provide strategic guidance for its clinical programs, particularly for its lead candidate, ALX148. This next-generation therapy targets the CD47 checkpoint pathway, aiming to minimize hematologic toxicity seen in existing treatments. The SAB members include Keith Flaherty, M.D., Charles Baum, M.D., Ph.D., and Kipp Weiskopf, M.D., Ph.D., who collectively bring extensive expertise in oncology and drug development.

ALX Oncology (NASDAQ: ALXO) has announced a clinical trial collaboration with Merck to evaluate ALX148, a CD47 blocker, combined with KEYTRUDA for treating Head & Neck Squamous Cell Carcinoma (HNSCC). This Phase 2 program includes two studies: one assessing the efficacy of ALX148 and KEYTRUDA, and the second adding standard chemotherapy. The collaboration follows promising Phase 1b trial data showing a 40% objective response rate in patients treated with ALX148 and KEYTRUDA. ALX148 is positioned as a key immunotherapy in cancer treatment.

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.