ALX Oncology (NASDAQ: ALXO) shares mBC data, $48.3 million cash estimate

Rhea-AI Filing Summary

ALX Oncology Holdings Inc. reported new early-stage clinical data and a preliminary year-end cash figure. The company highlighted topline findings from a Phase 1b/2 trial of its investigational CD47 inhibitor evorpacept combined with Jazz Pharmaceuticals’ ZIIHERA (zanidatamab-hrii) in heavily pretreated metastatic breast cancer patients.

In an exploratory analysis of HER2-positive metastatic breast cancer, CD47 expression appeared predictive of evorpacept activity. Separately, ALX Oncology estimated it held approximately $48.3 million in cash, cash equivalents, and short- and long-term investments as of December 31, 2025, noting this figure is unaudited, preliminary, and subject to change after completion of year-end closing procedures.

ALX ONCOLOGY HOLDINGS INC false 0001810182 0001810182 2026-01-30 2026-01-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 30, 2026

ALX ONCOLOGY HOLDINGS INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware		001-39386		85-0642577
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

323 Allerton Avenue, South San Francisco, California		94080
(Address of Principal Executive Offices)		(Zip Code)

650-466-7125

(Registrant’s Telephone Number, Including Area Code)

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		ALXO		The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

Clinical Update

On January 30, 2026, ALX Oncology Holdings Inc. (the “Company”) issued a press release announcing new data from a Phase 1b/2 clinical trial evaluating the Company’s investigational CD47-inhibitor evorpacept in combination with Jazz Pharmaceuticals’ ZIIHERA® (zanidatamab-hrii) in heavily pretreated patients with metastatic breast cancer (“mBC”). The topline findings, from an exploratory analysis in this trial, indicate that among patients with confirmed HER2-positive mBC, CD47 expression is predictive of evorpacept activity.

A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Preliminary Unaudited Financial Information

On January 30, 2026, the Company disclosed that, based upon preliminary estimates, it had approximately $48.3 million of cash and cash equivalents and short-term and long-term investments as of December 31, 2025.

The Company has not yet completed its year-end financial close process for the year ended December 31, 2025. This estimate of the Company’s cash and cash equivalents and short-term and long-term investments as of December 31, 2025 is preliminary, has not been audited, does not present all information necessary for an understanding of the Company’s financial position as of December 31, 2025, and is subject to change upon completion of its financial statement closing procedures. Additional information and disclosure would be required for a more complete understanding of the Company’s financial position and results of operations as of December 31, 2025. The Company’s independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to this preliminary result and, accordingly, does not express an opinion or any other form of assurance about it.

Cautionary Statement Concerning Forward-Looking Statements

This Current Report contains forward-looking statements that involve substantial risks and uncertainties. Forward-looking statements include, without limitation, statements relating to the Company’s preliminary estimates of cash and cash equivalents and short-term and long-term investments as of December 31, 2025. Such forward-looking statements are based on the Company’s beliefs and assumptions and on information currently available to it on the date of this Current Report on Form 8-K. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These and other risks are described more fully in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents the Company files with the SEC from time to time. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
99.1		Press Release dated January 30, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

				ALX ONCOLOGY HOLDINGS INC.
Date: January 30, 2026				By:		/s/ Harish Shantharam
						Harish Shantharam
						Chief Financial Officer

FAQ

What clinical trial update did ALX Oncology (ALXO) provide in this 8-K?

ALX Oncology reported topline findings from a Phase 1b/2 trial of evorpacept plus ZIIHERA in heavily pretreated metastatic breast cancer. In HER2-positive patients, CD47 expression appeared predictive of evorpacept activity, based on an exploratory analysis disclosed in the company’s press release.

What is evorpacept and how is ALX Oncology (ALXO) testing it?

Evorpacept is ALX Oncology’s investigational CD47 inhibitor, designed to help the immune system attack cancer cells. The company is evaluating it in combination with Jazz Pharmaceuticals’ ZIIHERA (zanidatamab-hrii) in a Phase 1b/2 clinical trial for heavily pretreated metastatic breast cancer patients.

What preliminary cash balance did ALX Oncology (ALXO) disclose?

ALX Oncology estimated it had approximately $48.3 million in cash, cash equivalents, and short- and long-term investments as of December 31, 2025. The company emphasized this figure is preliminary, unaudited, and subject to change once year-end financial closing procedures are completed.

Is ALX Oncology’s (ALXO) preliminary financial information audited?

No, the preliminary figure of about $48.3 million in cash and investments has not been audited or reviewed. The company’s independent registered public accounting firm has not performed procedures on this estimate and does not provide any opinion or assurance regarding the disclosed amount.

How does CD47 expression relate to evorpacept activity in ALX Oncology’s trial?

In an exploratory analysis of HER2-positive metastatic breast cancer patients, ALX Oncology reported that CD47 expression was predictive of evorpacept activity. This suggests evorpacept’s observed effect in the trial may be linked to CD47 levels, based on the topline data described.

Where can investors find more details on ALX Oncology’s new data release?

More details are contained in ALX Oncology’s press release filed as Exhibit 99.1. That press release, dated January 30, 2026, provides additional information on the Phase 1b/2 evorpacept and ZIIHERA trial results in heavily pretreated metastatic breast cancer patients.