ALX ONCOLOGY HOLDINGS INC

ALX Oncology Holdings Inc. announced it has entered into privately-negotiated exchange agreements with certain stockholders. Under these agreements, stockholders will surrender an aggregate of 13,353,384 shares of common stock to the company. In return, ALX Oncology will issue pre-funded warrants to purchase an aggregate of 13,353,384 shares of common stock. The exchange involves significant stockholders including funds affiliated with Blackstone Annex Master Fund L.P., RA Capital Healthcare Fund, L.P., and venBio Global Strategic Fund, L.P. The transaction is being conducted in reliance on an exemption from registration under Section 3(a)(9) of the Securities Act of 1933 and is expected to settle around October 15, 2026.

ALX Oncology Holdings Inc. reported a net loss of $(17.97) million for the second quarter of 2026, an improvement from $(25.95) million in the prior year. The company significantly strengthened its financial position, with cash and investments totaling $153.4 million as of June 30, 2026, up from $48.3 million at year-end 2025, primarily due to proceeds from equity offerings. Operating expenses decreased, and the company terminated its Palo Alto lease, resulting in a gain.

ALX Oncology Holdings Inc. reported its second quarter 2026 financial results, showing a reduced GAAP net loss of ($18.0) million, or ($0.13) per share, compared to ($25.9) million, or ($0.49) per share, in the prior year. The company maintained a strong financial position with $153.4 million in cash, cash equivalents, and investments, projected to fund operations through the first half of 2028. ALX Oncology also provided positive updates on its clinical programs, including the ASPEN-09-Breast Phase 2 trial and the ALX2004 Phase 1 trial, and announced leadership appointments and a debt refinancing that enhances financial flexibility.

ALX Oncology Holdings Inc. granted an inducement stock option to Michael Listgarten, its new General Counsel, to purchase 500,000 shares of common stock. The grant, made on June 29, 2026, has an exercise price of $2.20 per share, matching the closing price on the grant date. The option vests 25% on the one-year anniversary of the grant date, with the remainder vesting monthly thereafter, contingent on continued employment.

ALX Oncology Holdings Inc. announced key leadership changes, appointing Scott Garland as Chairman of the Board and Michael Listgarten as General Counsel, effective immediately. Mr. Garland, who has been on the board since November 2022, succeeds co-founder Corey Goodman, Ph.D., who is stepping down after more than a decade. The company highlights the extensive industry experience of both new appointees, aiming to strengthen its leadership as it advances its clinical pipeline.

ALX Oncology Holdings Inc. entered into a new loan and security agreement with HSBC Ventures USA Inc. for a multi-tranche term loan facility of up to $50,000,000. The company initially borrowed $10,000,000, which was used to refinance its existing loan agreement with Oxford Finance and Silicon Valley Bank. An additional $20,000,000 is available for draw through June 30, 2028, with further funds contingent on clinical trial milestones. The new facility provides capital for general corporate purposes and extends the maturity of its debt.

ALX Oncology Holdings Inc. reported a significantly reduced net loss of $17.9 million for Q1 2026, an improvement from $30.8 million in Q1 2025, with diluted EPS improving to $(0.17) from $(0.58). This financial improvement was supported by a substantial equity offering that raised $140.3 million, net of costs, significantly bolstering the company's cash and investment position. The company believes its existing capital resources are sufficient for at least the next twelve months.

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.

ALX Oncology reported Q1 2026 financial results and provided a corporate update, highlighting encouraging data from its Phase 1b/2 trial of evorpacept in combination with zanidatamab for HER2-positive metastatic breast cancer. All patients with confirmed HER2-positive disease and high CD47 expression experienced durable responses, reinforcing the CD47-selection hypothesis. The company also reported a reduced net loss of $(17.9) million for Q1 2026 and a strengthened balance sheet with $169.1 million in cash, sufficient to fund operations through the first half of 2028, following a $140.4 million equity offering. Additionally, ALX Oncology appointed Jeff Knight as Chief Development and Operating Officer and remains on track for key clinical milestones for evorpacept and ALX2004.

ALX Oncology announced positive data from exploratory analyses of its Phase 1b/2 clinical trial for evorpacept in combination with zanidatamab for heavily pre-treated HER2-positive metastatic breast cancer. The findings, presented at ESMO Breast Cancer 2026, showed a 100% confirmed objective response rate and significantly longer median progression-free survival (22.1 months) in patients with high CD47 expression. These results further validate a biomarker-driven development strategy for evorpacept. The company also scheduled a webcast for May 8, 2026, to discuss Q1 2026 financial results and the trial data.