An update from ALX Oncology Holdings ( (ALXO) ) is now available.
On February 28, 2025, ALX Oncology Holdings Inc. announced a 30% reduction in its workforce as part of a strategy to prioritize its pipeline, focus on clinical development, and preserve cash. This reduction, expected to be completed by May 2025, will incur estimated expenses of $2.2 million primarily related to research and preclinical development. Additionally, the company’s President and Chief Scientific Officer, Jaume Pons, Ph.D., will depart in April 2025 as a result of this workforce reduction. Dr. Pons will receive severance benefits and will enter a consulting agreement to assist with the transition.
More about ALX Oncology Holdings
ALX Oncology Holdings Inc. operates in the biotechnology industry, focusing on developing therapies to help patients fight cancer. The company is primarily engaged in clinical development and research, with a market focus on oncology treatments.
YTD Price Performance: -35.90%
Average Trading Volume: 1,033,353
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $52.74M
For a thorough assessment of ALXO stock, go to TipRanks’ Stock Analysis page.