ALX Oncology reports Q3 EPS (58c) consensus (78c)

Reports Q3 cash, cash equivalents and investments as of September 30 were $162.6M. The Company believes its cash, cash equivalents and investments, which includes the proceeds from sales under its at-the-market offering in the first half of 2024 are sufficient to fund planned operations well into Q1 2026 “We made substantial clinical progress during the third quarter, most notably announcing topline data from our ASPEN-06 Phase 2 trial in which our lead candidate evorpacept became the first and only CD47-blocking agent to show a durable clinical benefit and a well-tolerated safety profile in a prospective randomized clinical trial,” said Jason Lettmann, Chief Executive Officer of ALX Oncology (ALXO). “These results provided further validation for evorpacept’s novel mechanism of action and our robust evorpacept clinical program. We anticipate achieving several additional clinical milestones in the near-term that could advance evorpacept towards being a best-in-class, combinable therapeutic across a wide range of cancer types.”