ALX Oncology Has ‘Elevated Valuation’ – Analyst Downgrades Stock, Highlights Need For Development De-Risking Beyond Gastric Cancer



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 …

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