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ALX Oncology Reports First Quarter 2021 Financial Results and Provides Clinical Development and Operational Highlights
BURLINGAME, Calif., May 17, 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., May 17, 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 reported financial results for the first quarter ended March 31, 2021 and provided recent clinical development and operational highlights. \"Having achieved important milestones in the first quarter of 2021, we look forward to what we expect will be another exciting year of substantial progress for our lead candidate, ALX148, as we prepare to initiate several clinical trials in combination with other agents in a variety of indications, as well as multiple anticipated data readouts during the year,” said Jaume Pons, Ph.D., Founder, President and Chief Executive Officer of ALX Oncology. “We recently dosed the first patient in our Phase 2 study (ASPEN-03) to evaluate ALX148 in combination with KEYTRUDA® in first line treatment of patients with PD-L1 expressing metastatic or unresectable, recurrent head and neck squamous cell carcinoma (“HNSCC”) and we are preparing to initiate a second Phase 2 study (ASPEN-04) in the coming weeks with ALX148 in combination with KEYTRUDA and standard chemotherapy in a similar patient population but regardless of PD-L1 expression status. We also look forward to presenting additional results from a Phase 1b study (ASPEN-01) of ALX148 in combination with trastuzumab, ramucirumab and paclitaxel in patients with HER2-positive gastric/gastroesophageal junction cancer (“G/GEJ”) at the upcoming ESMO 23rd World Congress on Gastrointestinal Cancer in July,” Dr. Pons continued. Recent Clinical Developments for ALX148: Phase 2 ASPEN-03 studyIn May 2021, dosed first patient in the Phase 2 ASPEN-03 study evaluating the combination of ALX148, a next generation CD47 blocker, with KEYTRUDA® (pembrolizumab), Merck’s anti-PD-1 therapy, for the treatment of patients with HNSCC. Strengthened IP Portfolio Covering ALX148In April 2021, ALX Oncology announced that the post-grant review period for granted U.S. Patent No. 10,696,730 ended on March 30, 2021. This patent covers the lead product candidate ALX148, a next generation CD47-blocking therapeutic that combines a high-affinity signal regulatory protein-alpha (“SIRPα”) CD47-binding domain fused with an inactivated, proprietary Fc domain. The U.S. patent...