ALX ONCOLOGY HOLDINGS INC (ALXO): restructuring charge — ALX Oncology reduces workforce by 30%; President and CSO Pons to depart April 2025

ALX ONCOLOGY HOLDINGS INC

Board approved ~30% workforce reduction to prioritize pipeline and extend cash runway; substantially complete by May 2025.
Estimated $2.2 million in severance and benefits costs, recognized in Q1 2025.
President and CSO Jaume Pons will depart in April 2025; eligible for annual salary and 12 months COBRA.
No replacement named; position eliminated; transition consulting agreement expected.
Reduction part of pipeline prioritization and cash preservation strategy.

item 2.05 item 5.02

Executive movements

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Departed

Jaume Pons

President and Chief Scientific Officer

ALXO · ALX ONCOLOGY HOLDINGS INC

Filed: March 5, 2025, 6:59 PM ET

the Company’s President and Chief Scientific Officer position will be eliminated effective in April 2025

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jaume Pons departed as President and Chief Scientific Officer at ALX ONCOLOGY HOLDINGS INC.

Action: departed
Role: President and Chief Scientific Officer

Exact text from the filing

the Company’s President and Chief Scientific Officer position will be eliminated effective in April 2025

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ALX ONCOLOGY HOLDINGS INC announced a restructuring with charges of approximately $2.2 million affecting research and preclinical development (approximately 30% of the Company's employees).

Type: restructuring
Charge: approximately $2.2 million
Affected area: research and preclinical development
Headcount: approximately 30% of the Company's employees

Exact text from the filing

strategy. The reduction in workforce is expected to be substantially completed by the end of May 2025. The Company estimates that it will incur expenses of approximately $2.2 million for severance payments and employee benefits in connection with the reduction in force, primarily related to research and preclinical development, with the expenses expected to

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Source: SEC EDGAR

accession 0000950170-25-033504

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