Business
ALX Oncology Provides Corporate Update and Highlights Key Milestones in 2021
BURLINGAME, Calif., Jan. 11, 2021 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology”) (Nasdaq: ALXO), a clinical-stage immuno-oncology company
About this update from Alx Oncology Holdings Inc.
[{"type":"text","content":"BURLINGAME, Calif., Jan. 11, 2021 (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 provided a corporate update and highlighted key milestones anticipated in 2021. “2020 was a year of numerous corporate and clinical accomplishments. Following our successful IPO in July and upsized secondary offering last month, we secured gross proceeds of approximately $394 million which provides the cash to fund our clinical development plans through 2024. During the year, we initiated several clinical trials evaluating our lead candidate, ALX148, in both hematologic and solid tumors and were highly encouraged by the multiple data readouts in patients with HER2 positive gastric/gastroesophageal junction cancer and head and neck cancer that were recently reported at 35th Annual SITC meeting,” said Jaume Pons, Ph.D., Founder, President and Chief Executive Officer of ALX Oncology. “2021 is expected to be another exciting and productive year with additional clinical trial initiations and data readouts that we expect to further validate and distinguish ALX148 from other CD47 targeted approaches. We also look forward to initiating our collaboration with Zymeworks to evaluate ALX148 in combination with zanidatamab and providing additional updates on our development programs during the year,” Dr. Pons stated. Anticipated Key Milestones for 2021 • Phase 1b full data read out for ALX148 in combination with Merck’s Keytruda® (pembrolizumab) and chemotherapy for the treatment of patients with head and neck squamous cell carcinoma (HNSCC) is planned in the first half of 2021. • Initiation of two randomized Phase 2 studies for ALX 148 in combination with Keytruda in patients with HNSCC are planned in the first half of 2021. The first study (ASPEN-03) 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 (ASPEN-04) will evaluate ALX148 in combination with KEYTRUDA and standard chemotherapy for the first line treatment of patients with metastatic or unresectable, recurrent HNSCC. • Initiation of a Phase 1b clinical trial in the first half of 2021 with ALX148 in combination with Zymeworks’...