ALX Oncology Q4 GAAP net loss $22.8M ($0.42/sh), completes $150M offering, cash runway to 1H 2028

ALX ONCOLOGY HOLDINGS INC

2025-FY EPS reported -$1.90

Cash $48.3M at Dec 31, 2025; after Feb 2026 $150M offering net $140.4M, runway through 1H 2028.
GAAP net loss Q4 2025 ($22.8M)/($0.42) vs ($29.2M)/($0.55) in Q4 2024; full year ($101.7M)/($1.90) vs ($134.9M)/($2.58).
R&D expenses Q4 2025 $17.6M vs $23.5M in Q4 2024; full year $77.0M vs $116.4M.
Barbara Klencke appointed permanent CMO; completed $150M registered equity offering in Feb 2026.
Clinical milestones: evorpacept biomarker data; ASPEN-09 enrollment expanded to 120 pts, topline mid-2027; ALX2004 safety data 2H 2026.

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