Alx Oncology Holdings Inc Stock Price, News & Analysis

ALX Oncology Holdings Inc. (Nasdaq: ALXO) has successfully closed its underwritten public offering of 2,737,000 shares of common stock at a price of $76.00 per share, raising approximately $208.0 million in gross proceeds. This includes the full exercise of the underwriters' option for an additional 357,000 shares. The offering was managed by Jefferies, Credit Suisse, and Piper Sandler, among others. The funds raised will likely support the ongoing clinical development of ALX148, a promising treatment targeting CD47 in various cancers.

ALX Oncology Holdings Inc. (Nasdaq: ALXO) announced an upsized public offering of 2,380,000 shares at $76.00 each, projected to raise approximately $180.9 million before expenses. The offering is set to close on December 14, 2020, pending customary conditions. An additional 357,000 shares may be purchased by underwriters within 30 days. Noteworthy managers include Jefferies and Credit Suisse. The proceeds will support ALX Oncology's clinical development, particularly of ALX148, aimed at targeting various cancers by blocking the CD47 checkpoint pathway.

ALX Oncology Holdings Inc. (Nasdaq: ALXO) has initiated an underwritten public offering of 2,000,000 shares of its common stock, with plans to grant underwriters a 30-day option for an additional 300,000 shares. The proceeds from this offering are expected to support ongoing clinical development of ALX148, a next-generation cancer therapy targeting the CD47 pathway. Jefferies, Credit Suisse, and Piper Sandler are managing the offering. A registration statement has been filed with the SEC, but it has not yet become effective, meaning the offering is subject to market conditions.

ALX Oncology announced promising results from its clinical trial of ALX148 combined with rituximab for treating patients with advanced relapsed and refractory non-Hodgkin lymphoma (NHL). The updated data, presented at the 62nd ASH Annual Meeting, indicates a 70.0% objective response rate (ORR) among those receiving the higher 15 mg/kg dose. The treatment was well tolerated, with no dose-limiting toxicities reported, supporting further investigation in a Phase 2 program targeting a range of cancers. The data were cut off as of October 1, 2020.

ALX Oncology announced updates regarding its planned Phase 2 head and neck cancer studies for ALX148. The FDA has requested the completion of a standard non-clinical safety study prior to the initiation of the potentially pivotal trials. Enrollment is capped at 50 subjects, but no delays are expected in the clinical timelines. ALX148 has shown promising results in earlier studies, with a 75% overall response rate noted in a Phase 1b cohort. The company plans to advance ALX148 in combination with KEYTRUDA and intends to seek accelerated approval for HNSCC.

ALX Oncology Holdings Inc. (Nasdaq: ALXO), a clinical-stage immuno-oncology company, will participate in two virtual investor conferences in December 2020. The Piper Sandler 32nd Annual Virtual Healthcare Conference runs from November 30 to December 3, while the 3rd Annual Evercore ISI HealthCONx Conference is scheduled for December 3 at 10:30 AM ET. Both events feature fireside chats with analysts, and recordings will be available on ALX Oncology’s website. The company is focused on developing therapies that block the CD47 checkpoint pathway, with promising clinical responses from its lead product, ALX148.

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.