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Mar 31, 2023
ALX Oncology Q1 2023 Earnings Report
Reported financial results and provided clinical development and operational highlights.
Key Takeaways
ALX Oncology reported a GAAP net loss of $30.2 million for the first quarter ended March 31, 2023, compared to a GAAP net loss of $24.5 million for the first quarter ended March 31, 2022. The company's cash, cash equivalents, and investments totaled $256.2 million as of March 31, 2023.
Advanced lead program, evorpacept, through new collaborations and clinical trial starts.
Announced clinical trial collaboration with Sanofi to evaluate evorpacept in combination with SARCLISA in patients with multiple myeloma.
Initiated three new clinical studies, including a Phase 1 trial in urothelial cancer in combination with PADCEV.
First patient dosed in Phase 2 investigator-sponsored trial of evorpacept in combination with KEYTRUDA in patients with ovarian cancer.
Forward Guidance
ALX Oncology believes its cash, cash equivalents, investments along with the ability to draw down an additional $40 million of its term loan are sufficient to fund planned operations through mid-2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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