ALX ONCOLOGY HOLDINGS INC

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.

ALX Oncology Holdings Inc. announced the grant of an inducement stock option to Jeff Knight, M.P.H., its new Chief Development and Operating Officer. The option covers 800,000 shares of common stock, with an exercise price of $1.68 per share. This grant is intended to incentivize Mr. Knight's employment and vests over time, with 25% vesting after one year and the remainder monthly.

ALX Oncology Holdings Inc. announced the appointment of Jeff Knight as its new Chief Development and Operating Officer, effective April 13, 2026. Knight brings a wealth of experience from various biopharmaceutical companies, including Crinetics Pharmaceuticals, Poseida Therapeutics, and Amgen. His background in development operations, portfolio management, and corporate operations is expected to strengthen ALX Oncology's leadership team.