Quarterly ResultMay 8, 2026, 08:12 AM
ALX Oncology Q1 Net Loss ($17.9M); Positive Evorpacept Data
AI Summary
ALX Oncology Holdings Inc. reported a GAAP net loss of ($17.9) million for the first quarter ended March 31, 2026, a significant improvement from ($30.8) million in the prior-year period, driven by reduced R&D and G&A expenses. The company also announced encouraging data from its Phase 1b/2 trial of evorpacept in HER2-positive metastatic breast cancer, showing durable responses in patients with high CD47 expression. With $169.1 million in cash and investments, ALX Oncology is funded through the first half of 2028 and anticipates key data readouts for evorpacept and ALX2004 in mid-2027 and 2H 2026, respectively. Additionally, Jeff Knight was appointed as Chief Development and Operating Officer.
Key Highlights
- Q1 2026 GAAP net loss was ($17.9) million, down from ($30.8) million YoY.
- Q1 2026 R&D expenses decreased by $10.3 million to $13.6 million.
- Q1 2026 G&A expenses decreased by $2.6 million to $5.4 million.
- Cash, cash equivalents, and investments totaled $169.1 million as of March 31, 2026.
- Evorpacept trial showed 100% response rate in HER2-positive/high CD47 patients (n=5).
- Median duration of response for this subgroup was 20.2 months.
- Phase 2 ASPEN-09-Breast trial topline data expected mid-2027.
- Phase 1 ALX2004 trial safety data anticipated in 2H 2026.