ALX Oncology Holdings Inc. reports company news around a clinical-stage oncology pipeline led by evorpacept, an investigational CD47 inhibitor designed to address a cancer immune-evasion signal. Updates commonly cover clinical data presentations, biomarker analyses involving CD47 expression, and studies of evorpacept combinations in HER2-positive cancers, including breast and gastric cancer settings.
The company also reports development activity for ALX2004, an EGFR-targeted antibody-drug conjugate for EGFR-expressing solid tumors. Other recurring updates include quarterly financial results, research and development spending, cash runway commentary, registered offerings of common stock and pre-funded warrants, leadership appointments, investor conference participation, and Nasdaq inducement equity grants.
ALX Oncology Holdings Inc. (Nasdaq: ALXO) announced significant operational and financial updates on August 27, 2020. The company raised $185.7 million through its initial public offering completed on July 21, 2020. ALX148, their lead candidate, has received FDA clearance to proceed with clinical trials in combination with azacitidine for higher-risk myelodysplastic syndromes. Financial results for Q2 show a net loss of $14.0 million, with cash equivalents at $98.1 million, expected to fund operations through 2023. R&D expenses increased significantly, reflecting heightened clinical development efforts.
ALX Oncology Holdings Inc. (Nasdaq: ALXO) has successfully closed its IPO of 9,775,000 shares of common stock at a price of $19.00 per share, generating approximately $185.7 million in gross proceeds. This includes the full exercise of underwriters' options for an additional 1,275,000 shares. The shares began trading on the Nasdaq Global Select Market on July 17, 2020. The offering was managed by Jefferies, Credit Suisse, Piper Sandler, and Cantor Fitzgerald.
ALX Oncology Holdings (Nasdaq: ALXO) announced an initial public offering (IPO) of 8,500,000 shares at a price of $19.00 per share, aiming to raise $161.5 million before expenses. Trading on the Nasdaq Global Market will commence on July 17, 2020, with the offering expected to close on July 21, 2020, pending customary conditions. An additional 1,275,000 shares may be purchased by underwriters within 30 days. Joint book-running managers include Jefferies, Credit Suisse, Piper Sandler, and Cantor.