ALX Oncology Holdings Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ALX Oncology Holdings Inc. filed its Q1 2024 10-Q, detailing financial instruments, equity, and debt agreements.</b>

AI Summary

ALX ONCOLOGY HOLDINGS INC (ALXO) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. ALX Oncology Holdings Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to common stock, additional paid-in capital, and accumulated other comprehensive income as of various dates in 2023 and 2024. Information on stock options, restricted stock, and employee stock purchase plans is also present. The company's financial instruments, including long-term investments in U.S. Treasury Securities and money market funds, are detailed. Details regarding loan agreements, specifically the Oxford Finance and Silicon Valley Bank Loan Agreement, are referenced.

Why It Matters

For investors and stakeholders tracking ALX ONCOLOGY HOLDINGS INC, this filing contains several important signals. This 10-Q provides a snapshot of ALX Oncology's financial health and equity structure as of the end of the first quarter of 2024, crucial for investors assessing its current standing. The inclusion of details on loan agreements and investments offers insight into the company's financing strategies and risk management.

Risk Assessment

Risk Level: medium — ALX ONCOLOGY HOLDINGS INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains a mix of positive and negative financial information, and the presence of debt agreements suggests financial obligations that require careful monitoring.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-09 — Filing Date (Filed as of date)
• 0000950170-24-056953 — Accession Number (SEC filing accession number)
• 69 — Public Document Count (Number of documents in the filing)

Key Players & Entities

• ALX ONCOLOGY HOLDINGS INC (company) — Filer name
• ALXO (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-05-09 (date) — Filed as of date
• Oxford Finance and Silicon Valley Bank Loan Agreement (company) — Loan agreement referenced
• 323 ALLERTON AVENUE (address) — Business address
• SOUTH SAN FRANCISCO (location) — Business address city
• DE (location) — State of incorporation

FAQ

Industry Context

ALX Oncology Holdings Inc. operates in the pharmaceutical preparations industry, focusing on oncology treatments.

Regulatory Implications

The filing is a standard 10-Q, a periodic report required by the Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Review the consolidated financial statements for Q1 2024.
2. Analyze the details of the Oxford Finance and Silicon Valley Bank Loan Agreement.
3. Examine disclosures related to equity, stock options, and restricted stock.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the period ending March 31, 2024, following the previous fiscal year-end report.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share ALXO The Nasdaq Global Se

Filing Documents

• alxo-20240331.htm (10-Q) — 1909KB
• alxo-ex31_1.htm (EX-31.1) — 16KB
• alxo-ex31_2.htm (EX-31.2) — 16KB
• alxo-ex32_1.htm (EX-32.1) — 9KB
• alxo-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-056953.txt (&nbsp;) — 7219KB
• alxo-20240331.xsd (EX-101.SCH) — 936KB
• alxo-20240331_htm.xml (XML) — 1174KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Comprehensive Loss 7 Condensed Consolidated Statements of Stockholders' Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 29 Item 4

Controls and Procedures

Controls and Procedures 30 PART II OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 31 Item 1A

Risk Factors

Risk Factors 31 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 78 Item 3 Defaults Upon Senior Securities 78 Item 4 Mine Safety Disclosures 78 Item 5 Other Information 78 Item 6 Exhibits 79

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) ALX ONCOLOGY HOLDINGS INC. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share amounts) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 14,041 $ 22,406 Short-term investments 143,396 160,330 Prepaid expenses and other current assets 10,427 5,923 Total current assets 167,864 188,659 Property and equipment, net 3,441 3,589 Long-term investments 27,049 35,411 Other assets 14,296 14,894 Total assets $ 212,650 $ 242,553 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 6,227 $ 8,591 Payable and accrued liabilities due to related party 375 543 Accrued expenses and other current liabilities 25,626 26,867 Total current liabilities 32,228 36,001 Term loan, non-current 9,703 9,639 Other non-current liabilities 6,524 7,201 Total liabilities 48,455 52,841 Commitments and contingencies (Note 11) Stockholders' equity Common stock, $ 0.001 par value; 1,000,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 50,277,193 and 49,951,989 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 50 50 Additional paid-in capital 685,970 675,678 Accumulated other comprehensive loss 28 256 Accumulated deficit ( 521,853 ) ( 486,272 ) Total stockholders' equity 164,195 189,712 Total liabilities and stockholders' equity $ 212,650 $ 242,553 See accompanying notes to these condensed consolidated financial statements (unaudited). 5 ALX ONCOLOGY HOLDINGS INC. Condensed Consolidated Statements of Operations (unaudited) (in thousands, except share and per share amounts) Three Months Ended March 31, 2024 2023 Operating expenses: Research and development $ 31,717 $ 24,763 General and administrative 6,045

View Full Filing

View this 10-Q filing on SEC EDGAR