ALXO ALX Oncology Holdings Inc.

40.14
-0.67  -2%
Previous Close 40.81
Open 40.06
52 Week Low 28.01
52 Week High 51.9998
Market Cap $1,483,868,225
Shares 36,967,320
Float 20,628,737
Enterprise Value $1,591,218,329
Volume 80,083
Av. Daily Volume 167,613
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Upcoming Catalysts

Drug Stage Catalyst Date
ALX148 and trastuzumab (Herceptin)
Solid Tumors and Lymphoma
Phase 2
Phase 2
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Drug Pipeline

Drug Stage Notes
ALX148 and azacitidine (ASPEN-02)
Myelodysplastic syndromes (MDS)
Phase 1/2
Phase 1/2
Phase 1/2 initiation of dosing announced October 28, 2020.
ALX148 and Keytruda
Head and neck squamous cell carcinoma (HNSCC)
Phase 2
Phase 2
Phase 2 trial to be initiated 1H 2021.

Latest News

  1. BURLINGAME, Calif., Oct. 28, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc. ("ALX Oncology") (NASDAQ:ALXO), a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced the first patient has been dosed in the Phase 1/2 ASPEN-02 study evaluating the combination of ALX148, a next-generation CD47 blocker, with azacitidine for the treatment of patients with higher-risk myelodysplastic syndrome ("MDS").

    The Phase 1 part of the study is expected to characterize the safety of ALX148 in combination with azacitidine in patients with relapsed/refractory or previously untreated higher-risk MDS. Upon completion of the Phase 1, the Phase 2 component of the study will be initiated to evaluate…

    BURLINGAME, Calif., Oct. 28, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc. ("ALX Oncology") (NASDAQ:ALXO), a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced the first patient has been dosed in the Phase 1/2 ASPEN-02 study evaluating the combination of ALX148, a next-generation CD47 blocker, with azacitidine for the treatment of patients with higher-risk myelodysplastic syndrome ("MDS").

    The Phase 1 part of the study is expected to characterize the safety of ALX148 in combination with azacitidine in patients with relapsed/refractory or previously untreated higher-risk MDS. Upon completion of the Phase 1, the Phase 2 component of the study will be initiated to evaluate the efficacy of the combination in patients with previously untreated higher-risk MDS.

    This study has been initiated based on promising preclinical data of ALX148 in combination with azacitidine in myeloid leukemia models, and clinical data generated by ALX Oncology in an ongoing Phase 1 trial (NCT03013218) evaluating ALX148 in combination with other anti-cancer agents in over 150 patients with various malignancies, including non-Hodgkins lymphoma, gastric/gastroesophageal junction cancer ("GC"), and head and neck squamous cell carcinoma ("HNSCC"). Data from the Phase 1 study provides the basis for ALX148's Fast Track Approvals in GC and HNSCC granted by the U.S. Food and Drug Administration.

    "We are looking forward to evaluating the addition of ALX148 to azacitidine in patients with advanced MDS who are in need of effective new therapies," said Guillermo Garcia-Manero, M.D., Professor and Chief of Section of Myelodysplastic Syndromes, Department of Leukemia at MD Anderson Cancer Center. "ALX148 was designed for use in combination with a range of agents to maximize anti-cancer activity while minimizing associated toxicity."

    "Through blockade of the CD47 myeloid checkpoint pathway, ALX148 bridges the innate and adaptive immune responses to cancer. This study builds upon the compelling combination activity observed in patients with ALX148 and multiple other anti-cancer agents," said Sophia Randolph, M.D., Ph.D., Chief Medical Officer of ALX Oncology. "Our goal is to transform treatment options for patients with cancer by developing ALX148 as a foundational checkpoint immunotherapy."

    The ASPEN-02 trial is registered under NCT04417517. ALX Oncology owns worldwide commercial rights to ALX148.

    About Myelodysplastic Syndrome ("MDS")

    MDS represents a group of blood cancers characterized by ineffective production of healthy red blood cells, white blood cells, and platelets. This can lead to anemia with a potential need for frequent transfusions, infections, and a risk for transformation into leukemia. Over 10,000 people are estimated to be diagnosed with MDS in the U.S. each year. The average survival rate for those with higher-risk MDS is approximately 18 months.

    About ALX Oncology

    ALX Oncology is a publicly-traded, clinical-stage immuno-oncology company focused on helping patients fight cancer by developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system. ALX Oncology's lead product candidate, ALX148, is a next-generation CD47 blocking therapeutic that combines a high-affinity CD47 binding domain with an inactivated, proprietary Fc domain. ALX148 has demonstrated promising clinical responses across a range of hematologic and solid malignancies in combination with a number of leading anti-cancer agents. ALX Oncology intends to advance ALX148 into clinical development for the treatment of hematologic malignancies, including MDS and acute myeloid leukemia, and to continue clinical development in multiple solid tumor indications.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on ALX Oncology's beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause ALX Oncology's actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding ALX Oncology's clinical pipeline and the expectations regarding the beneficial characteristics, safety, efficacy and therapeutic effects of ALX148. These and other risks are described more fully in ALX Oncology's filings with the Securities and Exchange Commission ("SEC"), including ALX Oncology's Quarterly Report on Form 10-Q, filed with the SEC on August 27, 2020, and other documents ALX Oncology subsequently files with the SEC from time to time. Except to the extent required by law, ALX Oncology undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Contact:
    
    Peter Garcia
    Chief Financial Officer, ALX Oncology
    (650) 466-7125 Ext. 113
    
    
    Argot Partners
    (212) 600-1902
    
    
    Media Contact:
    
    Karen Sharma 
    MacDougall 
    (781) 235-3060
    

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  2. BURLINGAME, Calif., Oct. 14, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., ("ALX Oncology") (NASDAQ:ALXO), a clinical-stage immuno-oncology company developing therapies to block the CD47 checkpoint mechanism, today announced that ALX148 clinical results have been selected for presentation at the SITC 35th Anniversary Annual Meeting, November 9 –14, 2020.

    The abstract for our presentation appeared briefly and in error on the SITC website this morning, prior to its intended release on November 9th 2020, and as a result the abstract is provided in full below.

    Poster Presentation Details

    Title:   ALX148, a CD47 blocker, in combination with standard chemotherapy and antibody regimens in patients with gastric/gastroesophageal junction…

    BURLINGAME, Calif., Oct. 14, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., ("ALX Oncology") (NASDAQ:ALXO), a clinical-stage immuno-oncology company developing therapies to block the CD47 checkpoint mechanism, today announced that ALX148 clinical results have been selected for presentation at the SITC 35th Anniversary Annual Meeting, November 9 –14, 2020.

    The abstract for our presentation appeared briefly and in error on the SITC website this morning, prior to its intended release on November 9th 2020, and as a result the abstract is provided in full below.

    Poster Presentation Details

    Title:   ALX148, a CD47 blocker, in combination with standard chemotherapy and antibody regimens in patients with gastric/gastroesophageal junction (GC) cancer and head and neck squamous cell carcinoma (HNSCC) (Abstract 404)

    Presentation Time: November 11 – 14, 2020, 9:00am – 5:00pm ET

    Location: Virtual Poster Hall

    Abstract authors: Keun-Wook Lee,1 Hyun Cheol Chung,2 Won Seog Kim,3 Laura QM Chow,4* Nehal Lakhani,5 Wells Messersmith,6 Yung-Jue Bang,7 Patricia LoRusso,8 Philip Fanning,9 Pierre Squifflet,10 Feng Jin,9 Allison Forgie,9 Hong Wan,9 Jaume Pons,9 Sophia Randolph,9 Justin Gainor,11

    1Seoul National University Bundang Hospital, Seoul National University College of Medicine, Seongnam, Korea; 2Yonsei Cancer Center, Yonsei University College of Medicine, Seoul, Korea; 3Sungkyunkwan University School of Medicine, Samsung Medical Center, Seoul, Korea; 4University of Washington, Seattle, WA; 5START Midwest, Grand Rapids, MI; 6University of Colorado Cancer Center, Aurora, CO; 7Seoul National University College of Medicine, Seoul, Korea; 8Yale Cancer Center, New Haven, CT; 9ALX Oncology, Burlingame, CA, USA, 10International Drug Development Institute, Brussels, Belgium, 11Massachusetts General Hospital Cancer Center, Boston, MA

    Full Abstract

    Background: CD47 is a myeloid checkpoint up-regulated by tumors to evade the anticancer immune response. ALX148 is a high affinity CD47-blocking fusion protein with an inactive Fc region designed to safely enhance anticancer therapeutics [1,2]. ALX148 in combination with standard chemotherapy and antibody regimens was evaluated in patients (pts) with advanced HER2-positive GC or HNSCC.

    Methods: Pts with previously treated advanced HER2-positive GC or untreated advanced HNSCC received ALX148 (A) 10 mg/kg QW or 15 mg/kg QW in combination with trastuzumab (T) + ramucirumab (ram) + paclitaxel (pac) as 2nd or later-line treatment or pembrolizumab (P) + 5FU + platinum (cisplatin or carboplatin) as 1st line therapy, respectively. The primary endpoint was dose limiting toxicity (DLT). Tumor response, pharmacokinetic (PK), and pharmacodynamic (PD) markers were assessed in all pts. Preliminary data from enrolling cohorts, and follow-up data from pts with GC administered A+T, and with HNSCC administered A+P are also reported as of 30June2020.

    Results: Fifty-five pts enrolled into this portion of the study. Twelve patients with ≥2L GC received A+T+ram+pac and were evaluated for safety. No DLTs, were reported, and the ALX148 maximum administered dose was 15 mg/kg QW. Out of the 9 pts who experienced any adverse event, 7 pts reported treatment-related adverse events (TRAE). The most common TRAEs were low grade diarrhea, fatigue, pruritus and rash (each n=2,17%). Nine of the 12 patients were response-evaluable and reported a 66% ORR with 6PR and 3SD (including one ongoing near PR, ↓29.6%). Three patients with 1L HNSCC were administered A+P+5FU+platinum. No DLTs were reported and accrual to 15 mg/kg QW continues. Three pts experienced any AE, none were treatment-related. Of 3 evaluable patients with HNSCC, 2PR and 1SD were reported. Initial ALX148 combination PK and CD47 target occupancy are similar to that of single agent administration. Response duration and survival follow-up of 19 pts with HER2-positive GC administered A+T (2nd or later-line; 21% ORR) and of 10 pts with checkpoint inhibitor naïve HNSCC administered A+P (2nd or later-line; 40% ORR) will be reported. Results of all cohorts will be updated at time of presentation.

    Conclusions: Initial data suggests the myeloid checkpoint inhibitor, ALX148, is well tolerated in combination with the above anticancer antibodies, T-cell checkpoint inhibitor, and cytotoxic chemotherapy regimens with early anticancer signals in GC and HNSCC that compare favorably with historic controls. No MTD has been reached in any combination to date and accrual to chemotherapy combination regimens is ongoing. ClinicalTrials.gov identifier NCT03013218.

    References:

    1. Kauder S, Kuo T, Harrabi O, Chen A, Sangalang E, et al. ALX148 blocks CD47 and enhances innate and adaptive antitumor immunity with a favorable safety profile. PLoS ONE. 2018;13(8).

    2. Chow L, Gainor J, Lakhani N, et al. A phase I study of ALX148, a CD47 blocker, in combination with standard anticancer antibodies and chemotherapy regimens in patients with advanced malignancy. Journal of Clinical Oncology 2020; 38:15_suppl, 3056-3056.

    About ALX Oncology

    ALX Oncology is a publicly traded, clinical-stage immuno-oncology company focused on helping patients fight cancer by developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system. ALX Oncology's lead product candidate, ALX148, is a next generation CD47 blocking therapeutic that combines a high-affinity CD47 binding domain with an inactivated, proprietary Fc domain. ALX148 has demonstrated promising clinical responses across a range of hematologic and solid malignancies in combination with a number of leading anti-cancer agents. ALX Oncology intends to advance ALX148 into clinical development for the treatment of myelodysplastic syndromes and to continue clinical development for the treatment of a range of solid tumor indications. For more information, please visit ALX Oncology's website at https://www.alxoncology.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on ALX Oncology's beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause ALX Oncology's actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding ALX Oncology's clinical pipeline and the expectations regarding the beneficial characteristics, safety, efficacy and therapeutic effects of ALX148. These and other risks are described more fully in ALX Oncology's filings with the Securities and Exchange Commission ("SEC"), including ALX Oncology's Quarterly Report on Form 10-Q, filed with the SEC on August 27, 2020, and other documents ALX Oncology subsequently files with the SEC from time to time. Except to the extent required by law, ALX Oncology undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Contact:
    
    Peter Garcia
    Chief Financial Officer, ALX Oncology
    (650) 466-7125 Ext. 113
    
    
    Argot Partners
    (212)-600-1902
    
    
    Media Contact:
    
    Karen Sharma
    MacDougall
    (781) 235-3060
    

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  3. BURLINGAME, Calif., Oct. 06, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., ("ALX Oncology" or the "Company") (NASDAQ:ALXO) a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced the formation of the Company's Scientific Advisory Board ("SAB") with three leading oncology experts. The SAB will provide valuable strategic and scientific counsel to ALX Oncology's clinical programs related to its lead product candidate, ALX148.

    "We are honored to welcome these acclaimed experts in oncology to our scientific advisory board," said Jaume Pons, Ph.D., Founder, President and Chief Executive Officer of ALX Oncology. "These advisors will work closely with our leadership team and will…

    BURLINGAME, Calif., Oct. 06, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., ("ALX Oncology" or the "Company") (NASDAQ:ALXO) a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced the formation of the Company's Scientific Advisory Board ("SAB") with three leading oncology experts. The SAB will provide valuable strategic and scientific counsel to ALX Oncology's clinical programs related to its lead product candidate, ALX148.

    "We are honored to welcome these acclaimed experts in oncology to our scientific advisory board," said Jaume Pons, Ph.D., Founder, President and Chief Executive Officer of ALX Oncology. "These advisors will work closely with our leadership team and will be integral in helping to advance our clinical pipeline for ALX148 across multiple oncology indications."

    "It is a privilege to work with a talented group of renowned oncology experts to assist ALX Oncology in developing ALX148, which has emerged as a next-generation checkpoint inhibitor designed to have high affinity for CD47 and to overcome the hematologic toxicity associated with other CD47 blocking approaches," said Keith Flaherty, M.D., chair of ALX Oncology's SAB. "ALX148 has the potential to make a significant impact on people who are fighting cancer."

    The members of the ALX Oncology SAB include:

    • Keith Flaherty, M.D. (Chair) - Dr. Flaherty is a Professor of Medicine at Harvard Medical School and Director of Clinical Research, at the Massachusetts General Hospital Cancer Center. He co-founded and served on the Board of Directors of Loxo Oncology until its acquisition by Eli Lilly and Company. He currently serves on the Board of Directors of Clovis Oncology and Checkmate Pharmaceuticals. Dr. Flaherty has been awarded numerous grants from the National Cancer Institute, including K23, RO1 and PO1 grants. He is an author of many research articles, abstracts and reviews in the peer-reviewed literature, including three first-author and three senior author New England Journal of Medicine papers. He serves as Editor-in-Chief for Clinical Cancer Research and on the Board of Directors of the American Association for Cancer Research. Dr. Flaherty holds a B.S. from Yale University and an M.D. from Johns Hopkins University. Dr. Flaherty trained in internal medicine at Brigham and Women's Hospital and completed a medical oncology fellowship at the University of Pennsylvania.
    • Charles M. Baum, M.D., Ph.D. - Dr. Baum has been President and Chief Executive Officer and Board Member of Mirati Therapeutics for the last eight years. Under his leadership, he transformed Mirati into a world class precision oncology company focused on translating drug discovery and research into novel therapeutics that target the genetic and immunologic drivers of various cancers. Prior to joining Mirati, Dr. Baum was Senior Vice President for Biotherapeutic Clinical Research within Pfizer's Worldwide Research & Development division and held multiple roles including Vice President and Head of Oncology Development and as Chief Medical Officer for Pfizer's Biotherapeutics and Bioinnovation Center. He was responsible for the development of Pfizer's oncology portfolio, including axitinib (Inlyta®), crizotinib (Xalkori®) and the approval of sunitinib (Sutent®). Prior to joining Pfizer, Dr. Baum oversaw the Phase I-IV development of several oncology compounds at Schering-Plough, including temozolomide (Temodar®) for the treatment of patients with advanced brain tumors. Dr. Baum has received research support from the National Institutes of Health and the American Cancer Society, published more than 50 peer-reviewed manuscripts, and holds a number of patents and patent applications. Dr. Baum currently serves on the board of directors of Immunomedics and BCTG Acquisition Corp. Dr. Baum holds an M.D. and a Ph.D. from Washington University School of Medicine and completed his post-graduate training at Stanford University.
    • Kipp Weiskopf, M.D., Ph.D. - Dr. Weiskopf is a co-founder of ALX Oncology and a Whitehead Fellow at the Whitehead Institute for Biomedical Research. He is a leader in the field of macrophage-directed therapies and he oversees a research laboratory that studies novel macrophage and myeloid immune checkpoints. Dr. Weiskopf is concurrently appointed as a Hematology and Oncology fellow at the Dana-Farber Cancer Institute. Dr. Weiskopf is an inventor on 12 U.S. patents and patent applications pertaining to macrophage-directed therapies, including the engineered SIRP variants that underlie the development of ALX148. He is also the recipient of the Churchill Scholarship, the National Cancer Institute Ruth L. Kirschstein National Research Service Award and the Harold M. Weintraub Graduate Student Award and received first place in the Collegiate Inventors Competition. Dr. Weiskopf holds a B.A. from Amherst College, an M.Phil. from University of Cambridge, and an M.D. and Ph.D. from Stanford University. Dr. Weiskopf trained in internal medicine at Brigham and Women's Hospital.

    About ALX Oncology

    ALX Oncology is a publicly traded, clinical-stage immuno-oncology company focused on helping patients fight cancer by developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system. ALX Oncology's lead product candidate, ALX148, is a next generation CD47 blocking therapeutic that combines a high-affinity CD47 binding domain with an inactivated, proprietary Fc domain. ALX148 has demonstrated promising clinical responses across a range of hematologic and solid malignancies in combination with a number of leading anti-cancer agents. ALX Oncology intends to advance ALX148 into clinical development for the treatment of myelodysplastic syndromes and to continue clinical development for the treatment of a range of solid tumor indications. For more information, please visit ALX Oncology's website at https://www.alxoncology.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on ALX Oncology's beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause ALX Oncology's actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding the Company's clinical pipeline and the expectations regarding the beneficial characteristics, safety, efficacy and therapeutic effects of ALX148. These and other risks are described more fully in ALX Oncology's filings with the Securities and Exchange Commission ("SEC"), including ALX Oncology's Quarterly Report on Form 10-Q, filed with the SEC on August 27, 2020, and other documents that ALX Oncology subsequently files with the SEC from time to time. Except to the extent required by law, ALX Oncology undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Contact:
    
    Peter Garcia
    Chief Financial Officer, ALX Oncology
    (650) 466-7125 Ext. 113
    
    
    Argot Partners
    (212)-600-1902
    
    
    Media Contact:
    
    Karen Sharma
    MacDougall
    (781) 235-3060
    

    Primary Logo

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  4. BURLINGAME, Calif., Sept. 22, 2020 (GLOBE NEWSWIRE) -- ALX Oncology (NASDAQ:ALXO), a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced it has entered into a clinical trial collaboration with Merck, known as MSD outside the United States and Canada, to evaluate the combination of ALX148, an investigational next generation CD47 blocker, and KEYTRUDA® (pembrolizumab), Merck's anti-PD-1 therapy, for the treatment of patients with Head & Neck Squamous Cell Carcinoma (HNSCC).

    Under the terms of the agreement, ALX Oncology will conduct a Phase 2 program comprising two separate Phase 2 studies. The first study will evaluate the efficacy of ALX148 in combination with KEYTRUDA for the…

    BURLINGAME, Calif., Sept. 22, 2020 (GLOBE NEWSWIRE) -- ALX Oncology (NASDAQ:ALXO), a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced it has entered into a clinical trial collaboration with Merck, known as MSD outside the United States and Canada, to evaluate the combination of ALX148, an investigational next generation CD47 blocker, and KEYTRUDA® (pembrolizumab), Merck's anti-PD-1 therapy, for the treatment of patients with Head & Neck Squamous Cell Carcinoma (HNSCC).

    Under the terms of the agreement, ALX Oncology will conduct a Phase 2 program comprising two separate Phase 2 studies. The first study will evaluate the efficacy of ALX148 in combination with KEYTRUDA for the first line treatment of patients with PD-L1 expressing metastatic or unresectable, recurrent HNSCC. The second study will evaluate ALX148 in combination with KEYTRUDA and standard chemotherapy for the first line treatment of patients with metastatic or unresectable, recurrent HNSCC.

    These new studies will be initiated based on promising data from ALX148 in combination with pembrolizumab generated by ALX Oncology in a Phase 1b trial evaluating patients with HNSCC that was the basis for ALX148's Fast Track Approval granted by the U.S. Food and Drug Administration. Phase 1b trial results presented at ASCO 2020 showed that patients with HNSCC who had progressed on prior platinum therapy and who had never received a checkpoint inhibitor treated with ALX148 in combination with pembrolizumab demonstrated a 40% objective response rate (ORR), a median progression-free survival (PFS) of 4.6 months with a median overall survival (OS) that was not reached.

    "ALX148 was designed for use in combination to maximize clinical activity with a range of anti-cancer agents. We believe that blocking the CD47 myeloid checkpoint pathway bridges the innate and adaptive immune response against cancer to enhance efficacy. This collaboration builds upon the compelling combination activity observed in patients with ALX148 and KEYTRUDA," said Jaume Pons, Ph.D., Founder, President and Chief Executive Officer of ALX Oncology. "Our goal is to transform treatment options for patients with cancer by developing ALX148 as a foundational checkpoint immunotherapy."

    ALX Oncology owns worldwide commercial rights to ALX148.

    KEYTRUDA is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., Kenilworth, NJ, USA.

    About ALX Oncology

    ALX Oncology is a publicly-traded, clinical-stage immuno-oncology company focused on helping patients fight cancer by developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system. ALX Oncology's lead product candidate, ALX148, is a next generation CD47 blocking therapeutic that combines a high-affinity CD47 binding domain with an inactivated, proprietary Fc domain. ALX148 has demonstrated promising clinical responses across a range of hematologic and solid malignancies in combination with a number of leading anti-cancer agents. ALX Oncology intends to advance ALX148 into clinical development for the treatment of myelodysplastic syndromes and to continue clinical development for the treatment of a range of solid tumor indications.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on ALX Oncology Holdings Inc.'s (the "Company") beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding the Company's continued reliance on third parties to conduct clinical trials of ALX148, the Company's expectations regarding the beneficial characteristics, safety, efficacy and therapeutic effects of ALX148, the design, progress and timing of clinical trials for ALX148, including enrollment and its regulatory plans, and the ability of the Company's clinical trials to demonstrate the safety and efficacy of ALX148. These and other risks are described more fully in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's Quarterly Report on Form 10-Q, filed with the SEC on August 27, 2020, and other documents the Company subsequently files with the SEC from time to time. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Contact:
    
    Peter Garcia
    CFO, ALX Oncology
    (650) 466-7125 Ext. 113
    
    
    Argot Partners
    (212) 600-1902
    
    
    Media Contact:
    
    Karen Sharma
    MacDougall
    (781) 235-3060
    

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  5. BURLINGAME, Calif., Sept. 17, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., ("ALX Oncology") (NASDAQ:ALXO) a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced that it will be added as a member of the Russell 2000® and 3000® Indexes, effective after the U.S. market opens tomorrow, September 18, 2020, as a part of Russell's quarterly additions of select initial public offering ("IPO") companies.

    "We are pleased to join the Russell Indexes within just two months of our IPO," said Peter Garcia, Chief Financial Officer of ALX Oncology. "Our inclusion validates the potential we believe investors see in ALX Oncology and will further increase the overall awareness and visibility…

    BURLINGAME, Calif., Sept. 17, 2020 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., ("ALX Oncology") (NASDAQ:ALXO) a clinical-stage immuno-oncology company developing therapies that block the CD47 checkpoint pathway, today announced that it will be added as a member of the Russell 2000® and 3000® Indexes, effective after the U.S. market opens tomorrow, September 18, 2020, as a part of Russell's quarterly additions of select initial public offering ("IPO") companies.

    "We are pleased to join the Russell Indexes within just two months of our IPO," said Peter Garcia, Chief Financial Officer of ALX Oncology. "Our inclusion validates the potential we believe investors see in ALX Oncology and will further increase the overall awareness and visibility of our stock within the investment community."

    The Russell U.S. indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. 

    About ALX Oncology

    ALX Oncology is a clinical-stage immuno-oncology company focused on helping patients fight cancer by developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system. ALX Oncology's lead product candidate, ALX148, is a next generation CD47 blocking therapeutic that combines a high-affinity CD47 binding domain with an inactivated, proprietary Fc domain. ALX148 has demonstrated promising clinical responses across a range of hematologic and solid malignancies in combination with a number of leading anti-cancer agents. ALX Oncology intends to advance ALX148 into clinical development for the treatment of myelodysplastic syndromes and to continue clinical development for the treatment of a range of solid tumor indications. For more information, please visit ALX Oncology's website at https://www.alxoncology.com/.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on ALX Oncology's beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause ALX Oncology's actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding investor awareness of ALX Oncology's stock. These and other risks are described more fully in ALX Oncology's filings with the Securities and Exchange Commission ("SEC"), including ALX Oncology's Quarterly Report on Form 10-Q, filed with the SEC on August 27, 2020, and other documents that ALX Oncology subsequently files with the SEC from time to time. Except to the extent required by law, ALX Oncology undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Investor Contact:
    
    Peter Garcia
    Chief Financial Officer, ALX Oncology
    (650) 466-7125 Ext. 113
    
    
    Argot Partners
    (212)-600-1902
    
    
    Media Contact:
    
    Karen Sharma
    MacDougall
    (781) 235-3060
     

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