ALX Oncology surges on positive mid-stage gastric cancer therapy trial data

ALX Oncology Holdings

03/10/2023 14:01

** Shares of ALX Oncology Holdings Inc  ALXO.0  rise ~118%
to $10.5 premarket
    ** Reports positive interim mid-stage combination trial data
for its lead experimental treatment, evorpacept it treating a
type of gastric cancer
    ** A confirmed overall response rate of 52% was demonstrated
for evorpacept in combination with Trastuzumab + Cyramza +
Paclitaxel compared to 22% for the control group
    ** Co adds that the prespecified interim analysis represents
results from 54 patients with second, third line gastric cancer,
including patients previously treated with Enhertu
    ** Enhertu is AstraZeneca  AZN.L  and Daiichi Sankyo's
 4568.T  cancer drug, while Cyramza is Eli Lilly and Co's
 LYY.N  anticancer medication; Paclitaxel is a chemotherapy
medication
    ** The safety profile of evorpacept was consistent with
previous clinical trials and was well-tolerated - company
    ** Final top-line mid-stage trial results expected in Q2'24
    ** As of last close, stock down 57.32% so far this year

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))