ALX Oncology Holdings Inc. (ALXO) Stock

ALX Oncology Holdings Inc. (ALXO) is a Healthcare stock trading at $2.04 (as of 2026-08-21), with a market capitalization of $273.84M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

ALX Oncology Holdings Inc. develops immuno-oncology therapies for cancer patients. Its lead candidate, ALX148, is a CD47-blocking therapeutic in Phase 1b/2 for myelodysplastic syndromes and in trials for acute myeloid leukemia, non-Hodgkin’s lymphoma, and several solid tumors; it also has a preclinical program including ALTA-002, a SIRPa TRAAC.

Understand ALX Oncology Holdings Inc.: how it makes money

ALX Oncology Holdings develops immuno-oncology cancer therapies, led by ALX148 (a CD47 blocking therapeutic) that is in Phase 1b/2 clinical trials across blood cancers and solid tumor indications, including myelodysplastic syndromes, acute myeloid leukemia, non-Hodgkin's lymphoma, and multiple solid tumor types.

The company’s path toward future value depends on whether ALX148 can demonstrate meaningful clinical benefit in its Phase 1b/2 trials versus control, as shown by trial response rate and progression-free survival hazard ratio metrics.

Business quality (Weak): The disclosed clinical metrics suggest the company is actively generating efficacy signals for ALX148, but it remains a loss-making, early-stage development model with no reported segment revenue breakdown.

Bull case

  • Higher response versus control in the disclosed Evorpacept combination results: Confirmed Overall Response Rate is 52.0 percent for the Evorpacept combination treatment arm versus 22.0 percent for the control arm.
  • Positive relative progression-free survival signal in the disclosed comparison: Progression-Free Survival Hazard Ratio is 0.39 for Evorpacept plus Trastuzumab, Ramucirumab, and Paclitaxel versus the control regimen.

Bear case

  • Overall survival signal is less favorable than progression-free survival, based on the disclosed hazard ratio: Overall Survival Hazard Ratio is 0.63 for Evorpacept plus Trastuzumab, Ramucirumab, and Paclitaxel versus the control regimen.
  • Early-stage economics, with large operating losses and no reported revenue: For the period ended 2026-03-31, operating margin is -1604.6 percent and revenue_b is 0.0, indicating a development-stage profit model risk.
Valuation — source: SEC EDGAR (first-party)
Price$2.04
Market Cap$273.84M
Price / Book2.01
Price / Sales58.59
FCF Yield-50.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$3.96M
Net Margin-2565.5%
Revenue Growth (YoY)-57.7%
EPS Growth (YoY)-26.4%
FCF Growth (YoY)-31.1%
Financial Health — source: SEC EDGAR
Altman Z-Score-17.49 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderTCG Crossover Management, LLC ($26.09M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOJason W. Lettmann
Employees65
CountryUS
IPO Date2020-07-17

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ALXO earnings history · ALXO institutional & insider holders · ALXO KPIs & operating metrics · ALXO financials · ALXO investor presentations & press releases · ALXO SEC filings · ALXO peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.