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Jun 30, 2023
ALX Oncology Q2 2023 Earnings Report
Reported financial results for the second quarter and provided an update on the Company’s portfolio of clinical programs in development.
Key Takeaways
ALX Oncology reported its Q2 2023 financial results, highlighting the advancement of the ASPEN-06 trial and a strategic shift towards combinations with anti-cancer antibodies, ADCs, and PD-1/PD-L1 inhibitors. The company is terminating the ASPEN-02 and ASPEN-05 programs, reallocating resources to ongoing programs.
Advanced Phase 2/3 ASPEN-06 gastric cancer trial with data update expected in Q423.
Terminated azacitidine combination development programs: ASPEN-02 in MDS and ASPEN-05 in AML.
Focusing on combinations with anti-cancer antibodies, antibody-drug conjugates, and PD-1/PD-L1 immune checkpoint inhibitors.
Received Orphan Drug Designation from the European Commission for evorpacept for the treatment of patients with gastric cancer.
Forward Guidance
ALX Oncology anticipates several milestones, including an update from the ASPEN-06 trial in the second half of 2023 and expansion of the ADC platform by Q4 2023.
Positive Outlook
- Update of data from ASPEN-06 trial in the second half of 2023.
- Expansion of the ADC platform to identify clinical development candidates by the fourth quarter of 2023.
Challenges Ahead
- IND filing for ALTA-002 delayed to the first quarter of 2024 due to CMC-related issues.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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