ALX Oncology Q2 net loss narrows on lower R&D costs

ALX Oncology Holdings

06/08/2026 13:16

Overview
US cancer therapy developer's Q2 net loss narrowed yr/yr due to lower R&D expenses
Company refinanced debt, lowering cost of capital and enhancing financial flexibility

Outlook
ALX Oncology says cash reserves sufficient to fund operations through H1 2028

Result Drivers
LOWER R&D SPENDING - Co said Q2 R&D expenses fell due to reduced costs for legacy clinical trials, partially offset by continued investment in lead programs
LOWER LEGAL AND PATENT COSTS - Co said Q2 G&A expenses declined mainly due to lower corporate legal and patent costs
NO LEASE IMPAIRMENT CHARGE - Co said absence of prior-year lease impairment charge contributed to lower net loss

Company press release: ID:nGNX38vx6v

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$0.13
 
Q2 Net Loss
 
$17.97 mln
 
Q2 Income from Operations
 
-$18.03 mln
 
Q2 Loss Per Basic Share
 
$0.13
 
Q2 Operating Expenses
 
$18.03 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for ALX Oncology Holdings Inc is $4.00, about 108.3% above its August 5 closing price of $1.92

Reuters Recommended Reads
Aug 5 - Black Diamond Therapeutics Q2 net loss narrows year over year
Aug 5 - Entrada Therapeutics Q2 net loss narrows on lower costs
Aug 5 - Coherus Oncology Q2 revenue rises 40% on higher LOQTORZI volume, but slightly falls below estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)