ALX Oncology Holdings Inc. Earnings Recaps
Q1 2026
May 11, 2026
ALX Oncology reported clinical progress consistent with expectations, including updated biomarker data for evorpacept and ongoing dose escalation for ALX2004, but the lack of market movement suggests investors found no new material catalysts or surprises in the quarter.
Key takeaways
- Evorpacept data reaffirm CD47 as a predictive biomarker, with high CD47 expression linked to improved outcomes in heavily pretreated HER2-positive patients.
- Updated survival metrics include median duration of response of 20 months and median progression-free survival of 22 months in this difficult patient population.
- ALX2004 EGFR-targeted ADC continues dose escalation on track, with initial safety readout expected in H2 2026.
- The company bolstered its balance sheet with a February financing and strengthened leadership with the addition of Jeff Knight as Chief Development and COO.
- Enrollment and timelines for ongoing trials, including Phase II breast cancer study, remain on plan with no changes to strategic outlook.
Q3 2025
Nov 8, 2025
In Q3 2025, the company achieved significant progress in its clinical programs with robust data highlighting the role of CD47 as a predictive biomarker for evorpacept, positioning it favorably in the oncology landscape.
Key takeaways
- Presenting compelling Phase II data at SITC underscoring CD47 expression as a key biomarker for enhanced response in HER2-positive gastric cancer patients treated with evorpacept.
- Strong clinical outcomes: ORR of 65% and median PFS of over 18 months for patients with high CD47 expression, well outperforming the control group.
- Cash reserves of $67 million expected to sustain operations through Q1 2027, supporting ongoing clinical development milestones.
- Initial patient dosing in the Phase I trial of ALX2004 completed, with expected safety data in H1 2026.
- Focused strategy to drive value-enhancing data from both evorpacept and ALX2004 is on track, with key milestones anticipated in 2026.