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ALX Oncology Reports First Quarter 2024 Financial Results and Provides Corporate Update
SOUTH SAN FRANCISCO, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology” or the “Company”) (Nasdaq: ALXO), an immuno-oncology
About this update from Alx Oncology Holdings Inc.
[{"type":"text","content":"SOUTH SAN FRANCISCO, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc., (“ALX Oncology” or the “Company”) (Nasdaq: ALXO), an immuno-oncology company developing therapies that block the CD47 immune checkpoint pathway, today reported financial results for the first quarter ended March 31, 2024, and provided a corporate update. “We entered the quarter with a great deal of momentum having achieved a key validating development milestone for our platform asset evorpacept in Q4 2023 by reporting positive results in a prespecified randomized interim analysis of ASPEN-06’s Phase 2 clinical trial in advanced HER2-positive gastric/GEJ cancer, becoming the first CD47 blocker to demonstrate anti-tumor activity in a global randomized study in solid tumors,” said Jason Lettmann, Chief Executive Officer of ALX Oncology. “On the heels of this outstanding accomplishment, our first quarter efforts were focused on ensuring optimal clinical and operational execution as we advance our robust and maturing clinical-stage pipeline of best-in-class oncology programs that are reporting multiple value inflection datapoints in the coming months.” First Quarter 2024 Highlights and Recent Developments Reported positive data from an ongoing investigator-sponsored trial (“IST”) Phase 1/2 clinical trial of evorpacept in combination with standard-of-care in patients with relapsed or refractory B-cell non-Hodgkin lymphoma (“R/R B-NHL”) in an oral presentation at the American Association for Cancer Research Annual Meeting on April 9, 2024, in San Diego. Twenty patients with indolent (n=18) and aggressive (n=2) R/R B-NHL received evorpacept plus standard rituximab and lenalidomide (“R2”).Evorpacept plus R2 was well tolerated with a safety profile similar to historical R2.The combination achieved promising initial activity with a best overall response rate (“ORR”) of 94% and a complete response rate (“CRR”) of 83% in patients with indolent R/R B-NHL (R2 historical CRR benchmark is 34%).The clinical trial is conducted and sponsored by the University of Texas MD Anderson Cancer Center. Received acceptance of two evorpacept abstracts from the 2024 American Society of Cancer Oncology (“ASCO”) Annual Meeting taking place in Chicago from May 31-June 4, 2024. Evorpacept plus enfortumab vedotin in patients with locally advanced or metastatic urothelial carc...