Summary of ALX Oncology Holdings Conference Call Company Overview - **Company**: ALX Oncology Holdings (NasdaqGS:ALXO) - **Focus**: The company has pivoted to focus on two high-value programs: evorpacept (a differentiated CD47 program) and ALX2004 (a novel EGFR targeted ADC) [4][5] Core Points and Arguments CD47 Program - **Mechanism**: Evorpacept provides full blockade of CD47, which is crucial for immune system communication. It combines with the Fc activity of antibodies to enhance macrophage activity [7][8] - **Clinical Data**: Strong results observed in gastric cancer patients with confirmed HER2 positivity, indicating a transformational benefit for patients with both HER2 positivity and high CD47 expression [8][12] - **Future Focus**: The company aims to validate the CD47 biomarker across various datasets, particularly in HER2-positive cancers [13][15] ALX2004 Program - **ADC Development**: ALX2004 is an EGFR targeted ADC with a unique linker payload and epitope designed to minimize on-target skin toxicity, a common issue with existing EGFR therapies [44][46] - **Clinical Progress**: The first patient was dosed in August, and the program is currently in the clinic with a focus on safety and early efficacy signals [43][55] Safety and Efficacy - **Safety Profile**: The dead Fc design of evorpacept has shown a favorable safety profile, allowing exploration in earlier treatment lines, including adjuvant and neoadjuvant settings [35][36] - **Efficacy Expectations**: The company aims for a response rate of 35% or more in double-positive patients in ongoing studies, which would validate their approach [24][31] Financial Outlook - **Cash Runway**: The company has a cash runway extending into early Q1 2027, focusing on the two clinical trials as priority [59] Other Important Content - **Regulatory Interactions**: The company has had discussions with the FDA regarding study design and is preparing for potential pivotal studies based on interim data [29][31] - **Market Positioning**: ALX Oncology is positioning itself in a competitive ADC landscape by leveraging unique scientific insights and a strong safety profile to differentiate its products [42][48] This summary encapsulates the key points discussed during the conference call, highlighting the strategic focus, clinical advancements, and financial positioning of ALX Oncology.