ALX Oncology

May 09, 2022

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Mar 31, 2022

ALX Oncology Q1 2022 Earnings Report

Reported financial results for the first quarter ended March 31, 2022 and provided clinical development and operational highlights.

Key Takeaways

ALX Oncology reported a GAAP net loss of $24.5 million for the first quarter ended March 31, 2022, or $0.60 per basic and diluted share, as compared to a net loss of $14.2 million for the first quarter ended March 31, 2021, or $0.35 per basic and diluted share. Cash, cash equivalents and investments as of March 31, 2022 were $341.7 million.

Initiated Phase 2/3 Study of Evorpacept for the Treatment of Patients with Advanced Gastric or Gastroesophageal Junction Cancer (ASPEN-06).

FDA Granted Orphan Drug Designation for Evorpacept for the Treatment of Patients with Gastric/GEJ Cancer.

Appointed Itziar Canamasas, Ph.D., to its Board of Directors.

Cash, cash equivalents and investments as of March 31, 2022 were $341.7 million.