| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Thursday, ALX Oncology Holdings (NASDAQ:ALXO) reported a fourth-quarter 2023 EPS loss of $(0.93), missing the consensus of $(0.86).
As of December 31, 2023, cash equivalents and investments were $218.1 million.
The company says the cash balance and the ability to draw down an additional $40 million of its term loan are sufficient to fund planned operations into early 2026.
In October 2023, ALX Oncology released prespecified interim Phase 2 data from its ASPEN-06 trial of evorpacept plus trastuzumab, Cyramza (ramucirumab), and paclitaxel for HER2-positive gastric/gastroesophageal junction cancer.
A confirmed overall response rate (ORR) of 52% was demonstrated for evorpacept in combination with trastuzumab + Cyramza + paclitaxel compared to 22% for the control group of trastuzumab + Cyramza + paclitaxel.
Stifel has downgraded ALX Oncology, saying that the evaluation of ALX Oncology’s CD47 blocker, evorpacept, suggests that its value is currently justified for the HER2+ gastric cancer development opportunity.
The analyst downgrades ALX Oncology stock from Buy to Hold.
Stifel notes that the assessment is cautious, and optimism is tempered due to the perceived limited market size (sub-$100 million).
The stance leans towards the sidelines until additional development plans, supported by phase 1/2 data, materialize.
Despite the imminent early-stage data catalysts, there is skepticism about the potential for positive data in Head and neck squamous cell carcinomas.
The development paths as a combination backbone, especially with ADCs, seem unclear.
Price Action: ALXO shares are down 3.51% at $15.67 on the last check Friday.
Posted In: ALXO
