ALX Oncology Q3 2023 Earnings Report
Key Takeaways
ALX Oncology reported positive interim Phase 2 ASPEN-06 clinical trial results for evorpacept for the treatment of advanced HER2-positive gastric/gastroesophageal junction (GEJ) cancer, completed a public offering generating gross proceeds of approximately $63.2 million, and realigned its leadership team.
Reported positive interim Phase 2 ASPEN-06 clinical trial results for evorpacept for the treatment of advanced HER2-positive gastric/gastroesophageal junction (“GEJ”) cancer.
Completed public offering generating gross proceeds of approximately $63.2 million.
Realigned leadership team to match platform asset evorpacept’s maturing portfolio of programs and refined long-term development strategy.
Advanced pipeline of nine programs evaluating evorpacept in combination with anti-cancer antibodies, antibody-drug conjugates (“ADCs”), and PD-1/PD-L1 immune checkpoint inhibitors.
ALX Oncology
ALX Oncology
Forward Guidance
ALX Oncology believes its cash, cash equivalents, and investments along with the ability to draw down an additional $40 million of its term loan and the net proceeds from its recent public offering are sufficient to fund planned operations into early 2026.