ALX ONCOLOGY HOLDINGS INC ALXO
We are a clinical-stage biotechnology company advancing a pipeline of novel therapies designed to treat cancer and extend patients' lives. 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. Evorpacept is currently being evaluated in combination with trastuzumab and chemotherapy in patients with metastatic HER2-positive breast cancer in the Phase 2 ASPEN-09-Breast clinical trial and is also being studied in clinical trials with other targeted anti-cancer antibodies. Cancer cells leverage CD47, a cell surface protein, as a "don't eat me" signal to evade macrophage phagocytosis. We are developing evorpacept to be a next-generation checkpoint inhibitor designed to have a high affinity for CD47 and to avoid the limitations caused by hematologic toxicities inherent in other CD47 blocking approaches. Our second pipeline candidate, ALX2004, is a novel EGFR-targeted antibody-drug conjugate with a differentiated mechanism of action entered into a Phase 1 clinical trial in August 2025.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $0 | $1.2M | $4.8M | $2.1M | — |
| R&D | $77.0M | $116.4M | $141.8M | $98.4M | $60.2M | $29.0M | $16.3M | $11.3M | — |
| SG&A | $23.9M | $26.1M | $28.5M | $29.0M | $23.4M | $14.8M | $3.3M | $2.6M | — |
| Total operating expenses | $104.0M | $142.5M | $170.3M | $127.4M | $83.6M | $44.8M | $24.0M | $15.8M | — |
| Operating income | -$104.0M | -$142.5M | -$170.3M | -$127.4M | -$83.6M | -$43.7M | -$19.2M | -$13.7M | — |
| Interest expense | $1.6M | $1.7M | $1.6M | $238.0K | $13.0K | — | — | — | — |
| Pre-tax income | -$101.7M | -$134.8M | -$160.8M | -$123.4M | -$83.5M | -$45.5M | -$19.2M | -$13.7M | — |
| Income tax | $0 | $0 | $0 | $64.0K | $21.0K | $241.0K | $34.0K | $45.0K | — |
| Net income | -$101.7M | -$134.8M | -$160.8M | -$123.5M | -$83.5M | -$45.7M | -$19.2M | -$13.7M | — |
| EPS, basic | -1.90 | -2.58 | -3.74 | -3.03 | -2.07 | -2.76 | — | — | — |
| EPS, diluted | -1.90 | -2.58 | -3.74 | -3.03 | -2.07 | -2.76 | -7.56 | -6.33 | — |
| Shares, diluted (wtd. avg.) | 53.7M | 52.2M | 43.0M | 40.7M | 40.3M | 18.5M | 3.1M | 2.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $16.4M | $17.6M | $22.4M | $48.9M | $363.7M | $434.2M | $9.0M | $8.3M | $22.1M |
| Short-term investments | $28.4M | $110.2M | $160.3M | $217.4M | — | — | — | — | — |
| Total current assets | $50.7M | $134.4M | $188.7M | $271.0M | $367.0M | $436.0M | $9.8M | — | — |
| Property, plant and equipment | $1.2M | $2.9M | $3.6M | $3.9M | $897.0K | $52.0K | $860.0K | — | — |
| Total assets | $59.0M | $147.8M | $242.6M | $306.5M | $380.2M | $436.1M | $10.7M | — | — |
| Accounts payable | $4.9M | $4.5M | $8.6M | $8.1M | $3.8M | $4.0K | $3.7M | — | — |
| Short-term debt | $5.2M | $435.0K | $0 | $0 | — | — | — | — | — |
| Total current liabilities | $24.6M | $18.5M | $36.0M | $28.3M | $15.3M | $6.2M | $5.0M | — | — |
| Long-term debt | $4.5M | $9.5M | $9.6M | $9.4M | — | — | $5.4M | — | — |
| Total liabilities | $33.1M | $34.2M | $52.8M | $43.0M | $17.1M | $6.2M | $11.0M | — | — |
| Retained earnings | -$722.8M | -$621.1M | -$486.3M | -$325.5M | -$202.0M | -$118.5M | -$72.8M | — | — |
| Total equity | $26.0M | $113.6M | $189.7M | $263.5M | $363.0M | $429.8M | -$70.6M | -$51.8M | -$38.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$84.1M | -$121.9M | -$130.4M | -$89.2M | -$68.1M | -$38.3M | -$14.2M | -$13.2M | — |
| Depreciation and amortisation | $706.0K | $872.0K | $836.0K | $342.0K | $51.0K | $202.0K | $429.0K | $431.0K | — |
| Stock-based compensation | $12.6M | $27.1M | $26.3M | $23.8M | $13.9M | $5.4M | $297.0K | $269.0K | — |
| Capital expenditure | $212.0K | $447.0K | $1.3M | $1.4M | $666.0K | $31.0K | $353.0K | $653.0K | — |
| Investing cash flow | $82.6M | $86.3M | $44.7M | -$235.4M | -$4.9M | $610.0K | -$353.0K | -$653.0K | — |
| Financing cash flow | $362.0K | $30.8M | $59.3M | $9.9M | $2.5M | $462.9M | $15.4M | $1.0K | — |
| Buybacks | — | — | — | — | — | — | — | $6.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-163936.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $2.1M | $4.8M | $1.2M | $0 | $0 | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — | — |
| Net income | — | -$13.7M | -$19.2M | -$45.7M | -$83.5M | -$123.5M | -$160.8M | -$134.8M | -$101.7M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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