ALX ONCOLOGY HOLDINGS INC
ALXO evidence brief
What we can confirm
- BioSniper Score:
- 6.3 / 10
- Market Cap:
- $268.3M
What it means
What to watch
Prepared research question
What matters most for ALXO—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ALXO
ALX Oncology Holdings Inc. is a clinical-stage biotechnology company developing evorpacept, a next-generation CD47 checkpoint inhibitor, and ALX2004, an EGFR-targeted antibody-drug conjugate, with no approved products and no drug product revenue to date.
Key risk: No revenue, high cash burn
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Market Cap
$268.3M
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Jun 30, 2026.
ALX Oncology Holdings Inc. is a clinical-stage biotechnology company developing evorpacept, a next-generation CD47 checkpoint inhibitor, and ALX2004, an EGFR-targeted antibody-drug conjugate, with no approved products and no drug product revenue to date.
- Cash & equivalents of $22.7M as of 2026-06-30 [sec].
- Net loss of $18.0M for the quarter ended 2026-06-30 [sec].
- Accumulated deficit of $758.7M as of 2026-06-30 [sec_mda].
- Evorpacept combination with R2 showed 92% complete response rate vs ~50% historical for R2 alone [sec_mda].
- ALX2004 entered Phase 1 clinical trial in August 2025 [sec_mda].
What works
- Evorpacept is designed with a high-affinity CD47 binding domain and inactivated Fc domain to reduce hematologic toxicities [sec_mda].
- The evorpacept + R2 combination achieved 92% complete responses, comparing favorably to historical R2 alone [sec_mda].
- Sanofi is sponsoring a Phase 1/2 trial of evorpacept with isatuximab for multiple myeloma, with dose escalation completed [sec_mda].
What to weigh
- No products approved for marketing and no revenue from drug product sales ever [sec_mda].
- Accumulated deficit of $758.7M as of 2026-06-30, with operating losses expected to increase [sec_mda].
- Management recognizes the need to raise additional capital to fully implement its business plan [sec_mda].
- Cash & equivalents of $22.7M as of 2026-06-30 may be limited relative to ongoing development costs [sec].
From the filings
Quoted directly from source documents.
No approved products or drug product revenue
“We have no products approved for marketing and we have never received any revenue from drug product sales.”
SEC MD&A · August 6, 2026
Evorpacept + R2 complete response rate
“The combination of evorpacept with R 2 generated complete responses in 92% of patients comparing favorably to an approximate 50% historical complete response rate for R 2 alone.”
SEC MD&A · August 6, 2026
Accumulated deficit
“As of June 30, 2026, we had an accumulated deficit of $758.7 million.”
SEC MD&A · August 6, 2026
Need for additional capital
“Management recognizes the need to raise additional capital to fully implement its business plan.”
SEC MD&A · August 6, 2026
Risks & what to watch (3)›
Key risks
- No revenue, high cash burn — No product sales; net loss $18.0M in quarter ended 2026-06-30; cash $22.7M may be insufficient for long runway [sec].
- Dependence on evorpacept — Substantially all resources devoted to evorpacept; single-pipeline risk if clinical or regulatory setbacks occur [sec_mda].
- Need for future capital — Management acknowledges need to raise additional capital; timing and amount uncertain [sec_mda].
What to watch
- Evorpacept Phase 1b/2 data in advanced breast cancer presented at ESMO Breast Cancer 2026 [news].
- Sanofi-sponsored Phase 1/2 trial of evorpacept + isatuximab for multiple myeloma dose optimization progress [sec_mda].
- ALX2004 Phase 1 dose escalation results and next dose cohort updates [sec_mda].
- Cash runway and any capital raise announcements given $22.7M cash position [sec].
Sources: News · Pipeline · SEC MD&A · Generated October 6, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 0.18 · 0% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
0 buys · 3 sells (180d)
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
69
Total value held
$186.7M
| Holder | Shares | Value |
|---|---|---|
| ra capital management, l.p. | 13,011,849 | $26.1M |
| tcg crossover management, llc | 13,011,849 | $26.1M |
| venbio partners llc | 12,884,638 | $25.8M |
| redmile group, llc | 7,964,188 | $16.0M |
| blackstone inc. | 5,826,544 | $11.7M |
| driehaus capital management llc | 5,734,620 | $11.5M |
| vanguard capital management llc | 4,179,736 | $8.4M |
| marshall wace, llp | 3,757,216 | $7.5M |
| vivo capital, llc | 3,184,713 | $6.4M |
| almitas capital llc | 3,173,834 | $6.4M |
Showing top 10 of 69 institutional holders of ALX ONCOLOGY HOLDINGS INC. Open the full 13F history after sign-in.
Short Interest
as of Apr 28, 2026- % of float
- 1.7%
- Days to cover
- 2.1
- Shares short
- 2,045,874
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ALXO short interestGovernance
Frequently asked questions
What is the AI investment thesis for ALX ONCOLOGY HOLDINGS INC?
ALX Oncology Holdings Inc. is a clinical-stage biotechnology company developing evorpacept, a next-generation CD47 checkpoint inhibitor, and ALX2004, an EGFR-targeted antibody-drug conjugate, with no approved products and no drug product revenue to date.
Who is the CEO of ALX ONCOLOGY HOLDINGS INC?
Mr. Jason W. Lettmann is the chief executive officer of ALX ONCOLOGY HOLDINGS INC (ALXO).
Where is ALX ONCOLOGY HOLDINGS INC headquartered?
ALX ONCOLOGY HOLDINGS INC (ALXO) is headquartered in South San Francisco, CA, United States.
What therapeutic areas does ALX ONCOLOGY HOLDINGS INC focus on?
ALX ONCOLOGY HOLDINGS INC develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.