ALX Oncology Q4 2020 Earnings Report
Key Takeaways
ALX Oncology reported a net loss of $18.8 million for the fourth quarter ended December 31, 2020. The company's cash and cash equivalents were $434.2 million as of December 31, 2020, which is expected to fund operations through 2024.
ALX Oncology made substantial progress in 2020 advancing ALX148.
Full results of a Phase 1b clinical trial with ALX148 in combination with Herceptin, Cyramza and paclitaxel in patients with ≥2L G/GEJ cancer is planned to be presented in mid-2021.
Initiation of two randomized Phase 2 studies with ALX148 in combination with KEYTRUDA in patients with HNSCC are planned in the first half of 2021.
Cash and cash equivalents as of December 31, 2020 were $434.2 million.
ALX Oncology
ALX Oncology
Forward Guidance
ALX Oncology anticipates several key clinical milestones for 2021, including presenting full results from Phase 1b clinical trials and initiating multiple Phase 2 and Phase 1b clinical trials.
Positive Outlook
- Full results of a Phase 1b clinical trial with ALX148 in combination with Herceptin, Cyramza and paclitaxel in patients with second line or greater G/GEJ cancer (ASPEN-01) is planned to be presented in mid-2021.
- Initiation of two randomized Phase 2 studies with ALX148 in combination with KEYTRUDA in patients with HNSCC are planned in the first half of 2021.
- Initiation of a Phase 1b clinical trial with ALX148 in combination with Zymeworks’ zanidatamab in patients with advanced HER2-expressing breast cancer and other solid tumors in the first half of 2021.
- Full results of a Phase 1b study of ALX148 in combination with Merck’s KEYTRUDA and chemotherapy for the treatment of patients with HNSCC (ASPEN-01) is planned to be presented in the second half of 2021.
- Results of a Phase 1 clinical trial of ALX148 in combination with azacitidine in patients with MDS and the initiation of the Phase 2 clinical trial in MDS (ASPEN-02) are expected in the fourth quarter 2021.