ALX Oncology reports Q2 net loss $39.4M; ASPEN-06 gastric cancer data shows ORR 40.3% vs 26.6%

ALX ONCOLOGY HOLDINGS INC

2024-Q2 EPS reported -$1.47

GAAP net loss $39.4M ($0.76/sh) vs $34.2M ($0.84/sh) in Q2 2023; non-GAAP net loss $32.1M.
Cash, equivalents and investments $186.2M; sufficient to fund operations into Q1 2026.
R&D expenses $34.7M (up $5.2M YoY); G&A expenses $6.9M (down $0.4M YoY).
ASPEN-06 Phase 2: Evo-TRP achieved 40.3% ORR vs 26.6% control; mDOR 15.7 vs 7.6 months in ITT.
Phase 3 registrational trial in gastric/GEJ cancer expected to initiate mid-2025.

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