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Dec 31, 2020
ALX Oncology Q4 2020 Earnings Report
ALX Oncology reported financial results for Q4 and full year 2020 and provided clinical development and operational highlights.
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.
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.
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