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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 (Nasdaq: ALXO) announced the dosing of the first patient in the ASPEN-07 study, evaluating evorpacept, a novel CD47 blocker, in combination with PADCEV (enfortumab vedotin-ejfv) for urothelial cancer (UC). This Phase 1, open-label study aims to assess safety, tolerability, pharmacokinetics, and pharmacodynamics in patients with unresectable advanced UC (NCT05524545). Given the poor outcomes and limited treatments available post-chemotherapy for this patient group, the study seeks to investigate a new therapy that may enhance efficacy without increasing toxicity.
ALX Oncology Holdings Inc. (Nasdaq: ALXO) provided an update on its clinical progress and corporate milestones for 2023. The company is advancing its lead candidate, evorpacept, in several cancer indications, including a Phase 1 trial in urothelial cancer and trials in combination therapies for colorectal and breast cancer. Key accomplishments from 2022 include regulatory designations and financial support through a $100 million loan facility. ALX Oncology expects to present pivotal data in 2023, aiming for continued growth in clinical development.
ALX Oncology Holdings Inc. (Nasdaq: ALXO), a clinical-stage immuno-oncology company, will be presenting at the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023, at 10:30 am PT. CEO Jaume Pons, Ph.D., will provide a company overview at the event taking place in San Francisco.
A live webcast of the presentation will be accessible through ALX Oncology's website, and a replay will be available for 30 days post-event. The company focuses on developing therapies that block the CD47 checkpoint pathway, with their lead candidate, evorpacept, showing promise in treating various cancers.
ALX Oncology (Nasdaq: ALXO) announced promising clinical data from the Phase 1a dose escalation of the ASPEN-05 trial, evaluating evorpacept in combination with azacitidine and venetoclax for acute myeloid leukemia (AML). The treatment showed antileukemic activity in patients with both relapsed/refractory and newly diagnosed AML, with responses observed among 10 r/r patients and all 3 newly diagnosed patients. Notably, no evorpacept-related cytopenias were reported. A conference call is scheduled for December 13, 2022 to discuss these findings.
ALX Oncology Holdings Inc. (Nasdaq: ALXO) announced the appointment of Scott Garland to its Board of Directors, effective November 29, 2022. With over 30 years in the biopharmaceutical industry, Garland brings significant commercial and executive experience. As CEO of PACT Pharma and former CEO of Portola Pharmaceuticals, he has led successful product launches and has deep expertise in immuno-oncology. This addition aims to enhance ALX's strategic direction, particularly in developing its lead candidate, evorpacept, a novel therapy for treating cancer.
ALX Oncology (Nasdaq: ALXO) reported Q3 2022 financials, noting a GAAP net loss of $35.3 million, or $0.87 per share, versus $24.6 million, or $0.61 per share, in Q3 2021. R&D expenses rose to $29.4 million, driven by increased clinical trial costs. The company secured a non-dilutive loan facility to extend its cash runway to mid-2025, with $293.1 million in cash and equivalents as of September 30, 2022. Evorpacept's clinical development continues, including new treatment arms in the I-SPY-P1 TRIAL and ongoing trials for advanced colorectal cancer and head and neck squamous cell carcinoma.
ALX Oncology Holdings Inc. (Nasdaq: ALXO) will present clinical data from the dose escalation portion of ASPEN-05, a Phase 1 study, at the 64th American Society of Hematology Annual Meeting from December 10-13, 2022. The study evaluates evorpacept in combination with azacitidine and venetoclax for treating acute myeloid leukemia (AML). The poster presentation is scheduled for December 12, 2022, highlighting promising clinical responses from evorpacept across various hematologic and solid malignancies.
ALX Oncology Holdings Inc. (Nasdaq: ALXO) is participating in four investor conferences to discuss its immuno-oncology therapies targeting the CD47 checkpoint pathway. Key events include the Credit Suisse 31st Annual Healthcare Conference on November 9, Stifel 2022 Healthcare Conference on November 15, Jefferies London Healthcare Conference on November 17, and Piper Sandler 34th Annual Healthcare Conference on November 29. The company is focused on the clinical development of its lead product candidate, evorpacept, aimed at treating various cancers.
ALX Oncology Holdings Inc. (ALXO) announced a loan agreement for up to $100 million of non-dilutive financing with Oxford Finance and Silicon Valley Bank. This funding will support the development of evorpacept, a CD47 blocking therapeutic. ALX has accessed $10 million of an initial $50 million tranche, with the remaining funds available at its discretion through 2023. The financing extends their cash runway to mid-2025, allowing for further clinical trials and milestones.
ALX Oncology (Nasdaq: ALXO) announced the acceptance of two Trials in Progress abstracts for ASPEN-03 and ASPEN-04, Phase 2 studies on advanced head and neck cancer, at the SITC 37th Annual Meeting in Boston from November 8-12, 2022. The abstracts detail studies on evorpacept (ALX148) combined with pembrolizumab, with session times on November 10-11, 2022. ALX Oncology focuses on developing therapies that block the CD47 checkpoint pathway, with evorpacept showing promising results for various cancers.