ALX Oncologys' Q1 loss narrows on lower expenses

ALX Oncology Holdings

08/05/2026 13:08

Overview

US biotechnology firm's Q1 net loss narrowed yr/yr on lower R&D and G&A expenses

Company raised $150 mln in equity offering, ending Q1 with $169.1 mln in cash and investments

Company highlighted positive trial data for evorpacept and continued progress in ALX2004 trial

Outlook

Company expects topline data from Phase 2 ASPEN-09-Breast trial in mid-2027

ALX Oncology expects safety data from Phase 1 ALX2004 trial in 2H 2026

Company says cash position sufficient to fund planned operations through 1H 2028

Result Drivers

LOWER R&D EXPENSES - Co said R&D expenses fell due to workforce reduction, fewer active clinical trials, and pipeline prioritization

LOWER G&A EXPENSES - Co said G&A expenses declined due to workforce reduction, lower stock-based compensation, and reduced legal and corporate costs

Company press release: ID:nGNXYsGRG

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$0.17
Q1 Net Income
-$17.93 mln
Q1 Basic EPS
-$0.17
Q1 Income from Operations
-$18.97 mln
Q1 Operating Expenses
$18.97 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 113.9% above its May 7 closing price of $1.87

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.)