ALX Oncology Announces Pricing of Underwritten Offering

Core Viewpoint - ALX Oncology Holdings Inc. has announced the pricing of an underwritten offering of common stock and pre-funded warrants, aiming to raise approximately $150 million to support its clinical development programs and general corporate purposes [1][3]. Group 1: Offering Details - ALX Oncology is selling 76,979,112 shares of common stock at an offering price of $1.57 per share and pre-funded warrants to purchase 18,574,120 shares at $1.569 each [1]. - The gross proceeds from the offering are expected to be around $150 million before deducting underwriting discounts and commissions [1]. - The offering is expected to close on or about February 2, 2026, subject to customary closing conditions [1]. Group 2: Investors and Participation - The financing is led by new investors RA Capital Management and TCGX, with participation from various other investors including 5AM Ventures, Blackstone Multi-Asset Investing, and others [2]. Group 3: Use of Proceeds - The net proceeds from the offering will be used to fund the continued clinical development of evorpacept and the ALX2004 program, as well as for working capital and other general corporate purposes [3]. Group 4: Company Overview - ALX Oncology is a clinical-stage biotechnology company focused on developing novel therapies for cancer treatment, with its lead candidate evorpacept currently in multiple clinical trials [6]. - The second pipeline candidate, ALX2004, is an EGFR-targeted antibody-drug conjugate undergoing a Phase 1 dose-escalation trial in patients with EGFR-expressing solid tumors [6].