ALX Oncology Reports Second Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - ALX Oncology is advancing its clinical programs, particularly focusing on evorpacept and ALX2004, with significant data expected in the coming years [1][3][4] Clinical Developments - The ASPEN-06 trial indicates that CD47 expression is a predictive biomarker for response to evorpacept in HER2+ gastric cancer, with a 65% objective response rate (ORR) in CD47-high patients compared to 26% with standard treatment [4] - The ASPEN-Breast trial design has been updated to a single-arm study to evaluate CD47 and HER2 biomarker-driven strategies, with interim data expected in Q3 2026 [1][4] - The Phase 1 clinical trial for ALX2004 is on track to enroll its first patient in August 2025, targeting EGFR-expressing solid tumors [1][4][6] Financial Overview - As of June 30, 2025, ALX Oncology reported cash, cash equivalents, and investments totaling $83.5 million, sufficient to fund operations into Q1 2027 [11][16] - Research and Development (R&D) expenses for Q2 2025 were $18.0 million, a decrease from $34.7 million in the prior year, attributed to reduced clinical trial material manufacturing and other cost-saving measures [11][14] - The net loss for Q2 2025 was $25.9 million, down from $39.4 million in Q2 2024, reflecting lower R&D expenses [11][14] Corporate Updates - Daniel Curran, M.D., has been appointed to the Board of Directors, bringing extensive experience in drug discovery and corporate strategy [2][3][5] - The company has extended its cash runway into Q1 2027, allowing for the achievement of multiple data milestones across its pipeline [1][4][11]