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Dec 31, 2022
ALX Oncology Q4 2022 Earnings Report
Reported financial results and provided clinical development and operational highlights.
Key Takeaways
ALX Oncology reported its Q4 and full year 2022 financial results, highlighting the advancement of their lead program, evorpacept, into multiple solid tumor indications and hematological malignancies. They also expanded evorpacept into new indications and combinations. The company believes its cash, cash equivalents, investments and the ability to draw down up to an additional $40 million of its term loan are sufficient to fund planned operations through mid-2025.
Presentation of data from ASPEN-06, a randomized Phase 2 trial of evorpacept in combination with trastuzumab, ramucirumab and paclitaxel for the treatment of patients with HER2-positive gastric/GEJ cancer in the second half of 2023.
Presentation of dose optimization results from ASPEN-02, a Phase 1b clinical trial of evorpacept in combination with azacitidine in patients with myelodysplastic syndromes (“MDS”) in the second half of 2023.
Initiation of a Phase 1b dose optimization clinical trial of evorpacept in combination with azacitidine and venetoclax for the treatment of patients with relapsed or refractory or newly diagnosed acute myeloid leukemia in the second half of 2023.
Filing an IND for ALTA-002, a SIRPα Toll-like receptor agonist antibody conjugate in collaboration with Tallac Therapeutics in the first half of 2023.
Forward Guidance
ALX Oncology anticipates several key milestones in 2023, including data presentations and clinical trial initiations.
Positive Outlook
- Presentation of data from ASPEN-06, a randomized Phase 2 trial of evorpacept in combination with trastuzumab, ramucirumab and paclitaxel for the treatment of patients with HER2-positive gastric/GEJ cancer in the second half of 2023.
- Presentation of dose optimization results of a Phase 1b clinical trial of evorpacept in combination with azacitidine in patients with MDS (ASPEN-02) in the second half of 2023.
- Initiation of a Phase 1b dose optimization clinical trial of evorpacept in combination with azacitidine and venetoclax for the treatment of patients with relapsed or refractory or newly diagnosed acute myeloid leukemia in the second half of 2023.
- Filing an IND for ALTA-002, a SIRPα Toll-like receptor agonist antibody conjugate in collaboration with Tallac Therapeutics in the first half of 2023.
- Expansion of the antibody-drug conjugate platform acquired from ScalmiBio to identify clinical development candidates by the second half of 2023.
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