ALX Oncology Holdings Inc. Price & Performance (ALXO)

ALX Oncology has reported a significant 48.9% objective response rate in its ASPEN-06 Phase 2 trial for HER2-positive gastric cancer, more than doubling the control group’s results. This success positions evorpacept as a potential breakthrough in CD47-targeted therapies, with additional trials planned for breast and colorectal cancers later this year.123

ALX Oncology has drawn mixed reactions from analysts, with Stifel Nicolaus lowering its price target to $1.50, citing challenges. However, Jefferies upgraded the stock to a “buy” with a $3.00 target, highlighting its potential upside. The company’s strategic focus on evorpacept clinical trials remains a critical factor for future performance.456

ALX Oncology’s decision to cut 30% of its workforce and prioritize clinical-stage programs has extended its cash reserves into Q4 2026. The company is advancing evorpacept trials for breast and colorectal cancers while preparing to diversify its pipeline with ALX2004, an EGFR-targeted ADC. These moves aim to balance growth with financial sustainability.723