ALX Oncology Announces Pricing of Upsized Public Offering of Common Stock

ALX Oncology Holdings Inc. (“ALX Oncology”) (Nasdaq: ALXO), a clinical-stage immuno-oncology company developing therapies to block the CD47 checkpoint pathway, today announced the pricing of an upsized underwritten public offering of 2,380,000 shares of its common stock at a price of $76.00 per share. All of the shares of common stock are being offered by ALX Oncology. The gross proceeds to ALX Oncology from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by ALX Oncology, are expected to be approximately $180.9 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on December 14, 2020, subject to the satisfaction of customary closing conditions. In addition, ALX Oncology has granted the underwriters a 30-day option to purchase up to an additional 357,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. About ALX Oncology ALX Oncology is a publicly traded, clinical-stage immuno-oncology company focused on helping patients fight cancer by developing therapies that block the CD47 checkpoint pathway and bridge the innate and adaptive immune system. ALX Oncology’s lead product candidate, ALX148, is a next generation CD47 blocking therapeutic that combines a high-affinity CD47 binding domain with an inactivated, proprietary Fc domain. ALX148 has demonstrated promising clinical responses across a range of hematologic and solid malignancies in combination with a number of leading anti-cancer agents. ALX Oncology intends to continue clinical development of ALX148 for the treatment of a range of solid tumor indications as well as MDS and AML.
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