Financial Performance - ALX Oncology reported a GAAP net loss of $29.2 million for Q4 2024, a decrease from a net loss of $45.5 million in Q4 2023, reflecting a reduction in R&D expenses[6] - Research and Development expenses for Q4 2024 were $23.5 million, down from $41.8 million in the same period last year, primarily due to decreased clinical trial material manufacturing[6] - ALX Oncology's total operating expenses for the year ended December 31, 2024, were $142.5 million, down from $170.3 million in 2023[12] - The accumulated deficit as of December 31, 2024, was $621.1 million, an increase from $486.3 million in the previous year[14] - The company utilizes non-GAAP financial measures to provide additional insights into its financial performance, which are not in accordance with GAAP[17] - Non-GAAP net loss excludes stock-based compensation expense and accretion of term loan discount and issuance costs, differing from GAAP net loss[18] - Non-GAAP financial measures may vary in calculation compared to those used by other companies, indicating potential lack of comparability[18] Cash Position - The company has cash, cash equivalents, and investments totaling $131.3 million as of December 31, 2024, which is expected to fund operations into Q4 2026[6] Clinical Trials and Results - The confirmed objective response rate (cORR) for evorpacept in HER2-positive gastric cancer was reported at 48.9%, compared to 24.5% in the control group, with a median duration of response of 15.7 months[4] - In the Phase 1b/2 trial for metastatic breast cancer, the cORR for HER2-positive patients was 55.6%, with a median progression-free survival of 7.4 months[4] - Upcoming clinical milestones include topline results from multiple Phase 2 trials anticipated in Q2 2025, focusing on head and neck squamous cell carcinoma and urothelial cancer[6] Strategic Initiatives - The company announced a strategic workforce reduction of approximately 30% to optimize resources and extend cash runway[4] - Key leadership additions include Allison Dillon as Chief Business Officer and Alan Sandler as Chief Medical Officer, enhancing the company's strategic capabilities[4]

Core Insights - ALX Oncology is advancing its clinical pipeline, focusing on the CD47-blocker evorpacept and the novel EGFR-directed ADC candidate ALX2004, with key updates provided during an R&D Day webcast event [1][8] Clinical Development Updates - The company is enhancing its evorpacept program, particularly in combination with existing anti-cancer therapies for HER2-positive cancers, with new trials planned for breast and colorectal cancers expected to start in the first half of 2025 [3][4] - ALX2004, a new ADC candidate, is set for an Investigational New Drug (IND) submission to the FDA in Q1 2025, aiming to optimize anti-tumor activity [6][8] Corporate Strategy and Financial Updates - ALX Oncology is implementing strategic prioritization and resource optimization, resulting in a workforce reduction of approximately 30% in preclinical research to extend its cash runway into Q4 2026 [9][8] - The company is focusing resources on high-priority programs to ensure successful execution of ongoing studies and to generate value from its cancer therapies [3][9]

Core Insights - ALX Oncology is advancing its clinical pipeline, focusing on the CD47-blocker evorpacept and the novel EGFR-directed ADC candidate ALX2004, with key updates provided during an R&D Day webcast event [1][8] Clinical Development Updates - The company is optimistic about evorpacept's potential, particularly for HER2-positive cancers, and plans to initiate new clinical trials combining evorpacept with trastuzumab and cetuximab in breast and colorectal cancers in the first half of 2025 [3][4] - Evorpacept is currently being evaluated in ongoing trials, with discussions on regulatory pathways for gastric cancer based on ASPEN-06 data [3][4] New Product Introduction - ALX2004, a new ADC candidate, is designed to enhance anti-tumor activity and is expected to have an IND application submitted to the FDA in Q1 2025 [6][8] Corporate Strategy and Financial Updates - The company is streamlining operations and prioritizing resources, resulting in a workforce reduction of approximately 30% in preclinical research to extend its cash runway into Q4 2026 [3][9] - The strategic prioritization aims to support new clinical trial programs while optimizing existing resources [9]

Core Viewpoint - ALX Oncology Holdings Inc. plans to report its fourth quarter and full year 2024 financial results on March 6th, 2025, before market open [1]. Company Overview - ALX Oncology is a clinical-stage biotechnology company focused on developing therapies that enhance the immune system to treat cancer and improve patient survival [3]. - The company's lead therapeutic candidate, evorpacept, is being evaluated in multiple ongoing clinical trials across various cancer indications, indicating its potential as a cornerstone therapy in immuno-oncology [3].

Core Insights - ALX Oncology will host a virtual Research and Development Day webcast on March 5, 2025, focusing on clinical program progress and business updates [1] - The event will provide updates on the company's pipeline and its lead investigational CD47-blocker, evorpacept, which is being evaluated in multiple clinical trials [2] Company Overview - ALX Oncology is a clinical-stage biotechnology company that develops therapies aimed at enhancing the immune system to treat cancer and improve patient survival [2] - Evorpacept, the company's lead therapeutic candidate, is positioned as a potential cornerstone therapy for future immuno-oncology treatments [2]

Oral presentation at 2025 ASCO Gastrointestinal Cancers Symposium today highlights evorpacept as the first CD47 blocker to show substantial tumor response and a well-tolerated safety profile in a prospective randomized trialGreatest benefit observed among patients with confirmed HER2-positive cancer, as demonstrated by either fresh biopsy or ctDNA HER2-expression, with confirmed ORR of 48.9% and mDOR of 15.7 months vs. 24.5% ORR and mDOR of 9.1 months in the control group, and a PFS Hazard Ratio of 0.64Comp ...

Core Insights - ALX Oncology has appointed Harish Shantharam as Chief Financial Officer and added Barbara Klencke, M.D., and Chris H. Takimoto, M.D., Ph.D., FACP, to its Board of Directors, enhancing its leadership team as it prepares for late-stage clinical trials of its lead candidate evorpacept in 2025 [1][2] Company Leadership - Harish Shantharam brings over 20 years of experience in financial and commercial functions within the biotech sector, having previously served as CFO at CymaBay Therapeutics and held significant roles at Gilead Sciences, where he managed financial operations for a $20-$30 billion revenue business [3][5] - Barbara Klencke, M.D., has over 30 years of experience in oncology and has contributed to the development and commercialization of various oncology products, including roles at Sierra Oncology and Onyx Pharmaceuticals [4][5] - Chris H. Takimoto, M.D., Ph.D., FACP, has over 30 years of experience in oncology and pharmacology, previously serving as Chief Medical Officer at IGM Biosciences and Forty Seven, and has a strong background in clinical development [6][5] Company Overview - ALX Oncology is a clinical-stage biotechnology company focused on therapies that enhance the immune system to treat cancer, with its lead candidate evorpacept being evaluated in multiple clinical trials across various cancer indications [7]

Core Viewpoint - ALX Oncology is hosting a virtual event to discuss updated data from the ASPEN-06 Phase 2 clinical trial evaluating the CD47-blocker evorpacept in HER2-positive gastric cancer patients [1][4]. Group 1: Event Details - The virtual event will take place on January 23 at 1:00 p.m. PT/4:00 p.m. ET [1]. - The ASPEN-06 data will also be presented at the 2025 American Society of Clinical Oncology Gastrointestinal Cancers Symposium (ASCO GI) earlier that day [2]. - The presentation will be led by Dr. Kohei Shitara and will focus on the final analysis of the randomized phase 2 part of the ASPEN-06 study [3][4]. Group 2: Company Overview - ALX Oncology is a clinical-stage biotechnology company focused on developing therapies that enhance the immune system to treat cancer [5]. - The lead therapeutic candidate, evorpacept, is being evaluated in multiple ongoing clinical trials across various cancer indications [5].

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. ALX Oncology Holdings Inc. (ALXO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.ALX Oncology Holdings Inc. is one of 1011 individual stocks in the Medical sector. Collectively, these companies sit at #2 in t ...

SOUTH SAN FRANCISCO, Calif., Jan. 07, 2025 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology”) (Nasdaq: ALXO), a clinical-stage biotechnology company advancing therapies that boost the immune system to treat cancer and extend patients’ lives, today announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. Chief Executive Officer, Jason Lettmann, will deliver a company overview presentation on Wednesday, January 15, 2025, at 3:00 p.m. Pacific Time. A live ...