ALXO Stock — ALX Oncology Holdings Inc.: Cash, EV, Pipeline

What they do

Our clinical pipeline includes two clinical-stage product candidates, the CD47 blocker evorpacept and an epidermal growth factor receptor (EGFR)-targeted antibody drug candidate (ADC) ALX2004. Our lead product candidate, evorpacept, has demonstrated potential to serve as a cornerstone therapy upon which the future of immuno-oncology can be built for patients whose cancer over-expresses CD47.

Source: 10-K FY2025 via SEC EDGAR

Share price

$1.16

Market cap

$144.3M

Cash

$153.4M

Enterprise value

$0.6M

Balance sheet

Cash	$153.4M
Debt	$9.7M
Net cash	$143.7M
Enterprise value	$0.6M
Basic shares	138.3M shares
Fully diluted shares	170.0M shares
Fully diluted market cap	$197.2M
Cash per share	$1.11
Quarterly burn	$16.1M
Cash runway	9.6 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

138.3M

Pre-funded warrants

13.7M

Options

15.9M

RSUs

0.1M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

2.0M

FDSO

170.0M

Cap table as of 2026-06-30.

Price history

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Next catalyst

ALX2004 · Est. Nov 7, 2026 · half midpoint · guided Now

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 7, 2026 Now half midpoint	ALX2004 Phase 1 in EGFR-expressing solid tumors	Phase 1	EGFR-expressing solid tumors	2H 2026
GUIDEDEst. Jul 16, 2027 in 7 mo guidance midpoint	evorpacept ASPEN-09-Breast Phase 2 in HER2-positive metastatic breast cancer	Phase 2	HER2-positive metastatic breast cancer	mid-2027

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Evorpacept

Phase 2 · Active

Target CD47

Partnerships Jazz Pharmaceuticals (sponsor of Phase 1b/2 zanidatamab + evorpacept trial); Sanofi (sponsor of Phase 1/2 isatuximab + evorpacept trial in multiple myeloma); MD Anderson (investigator-sponsored Phase 1/2 trial in B-cell NHL)

Indications

HER2-positive metastatic breast cancer (with trastuzumab + chemotherapy) (Phase 2)
HER2-positive gastric/gastroesophageal junction (GEJ) cancer (ASPEN-06) (Phase 2)
B-cell non-Hodgkin lymphoma (with rituximab) (Phase 2)
Relapsed/refractory multiple myeloma (with isatuximab) (Phase 2)
Second-line metastatic colorectal cancer (ASPEN-CRC) (Phase 1)

Status note Lead program. ASPEN-06 (randomized Phase 2/3 in 2L/3L HER2+ gastric/GEJ) reported Phase 2 topline July 2024; FDA advised April 2025 that a Phase 3 vs ENHERTU would be required for a US registrational path, which the company will not pursue - gastric program available for partnerships. ASPEN-09-Breast amended August 2025 to single-arm design evaluated by CD47 expression. ASPEN-CRC paused August 2025 to focus resources on ASPEN-09-Breast. Fast Track (January 2020) and Orphan Drug (January 2022) designations for HER2 gastric/GEJ combination. CD47 overexpression identified as predictive biomarker (SITC November 2025).

ALX2004

Phase 1 · Active Modality: antibody-drug conjugate

Target EGFR

Indications

Advanced or metastatic EGFR-expressing solid tumors (Phase 1)

Status note EGFR-targeted ADC (matuzumab-derived antibody, topoisomerase I inhibitor payload); IND cleared April 2025, first patient dosed August 2025.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	13,011,849	no change	0.23%	2026-08-14
Vivo Capital	3,184,713	no change	0.60%	2026-08-14
OrbiMed Advisors	2,866,256	no change	0.11%	2026-08-14
ADAR1 Capital Management	533,660	+533,660	0.05%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ALXO — ALX Oncology Holdings Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Specialist fund holders

Latest news

ALXO — ALX Oncology Holdings Inc.