ALX Oncology Holdings Q2 2024 Update
Ticker: ALXO · Form: 10-Q · Filed: Aug 12, 2024 · CIK: 1810182
Sentiment: neutral
Topics: 10-Q, financials, collaboration, debt
Related Tickers: ALXO
TL;DR
ALXO Q2 financials out - loan details & collab updates with Tallac/Scalmi Bio.
AI Summary
ALX Oncology Holdings Inc. reported its financial results for the quarter ended June 30, 2024. The company's filing details its financial position and operational activities, including information on its loan agreements with Oxford Finance and Silicon Valley Bank. The report also references collaboration agreements, specifically mentioning Tallac Therapeutics and Scalmi Bio Inc.
Why It Matters
This filing provides investors with a crucial update on ALX Oncology's financial health and ongoing collaborations, which are key indicators for the company's future development and potential market performance.
Risk Assessment
Risk Level: medium — The company operates in the highly competitive and regulated pharmaceutical sector, with significant research and development costs and clinical trial risks.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20240812 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- ALX Oncology Holdings Inc. (company) — Filer
- Oxford Finance (company) — Loan Agreement
- Silicon Valley Bank (company) — Loan Agreement
- Tallac Therapeutics (company) — Collaboration Agreement
- Scalmi Bio Inc. (company) — Collaboration Agreement
FAQ
What are the key terms of the loan agreement with Oxford Finance and Silicon Valley Bank?
The filing references a loan agreement with Oxford Finance and Silicon Valley Bank, but specific terms are not detailed in the provided excerpt.
What is the nature of the collaboration with Tallac Therapeutics?
The filing mentions a collaboration agreement with Tallac Therapeutics, active from April 1, 2023, to June 30, 2023, but the specific details of the collaboration are not provided in this excerpt.
What is the company's fiscal year end?
The company's fiscal year ends on December 31st.
What is the primary business of ALX Oncology Holdings Inc.?
ALX Oncology Holdings Inc. is in the Pharmaceutical Preparations industry, SIC code 2834.
When was the 10-Q filing submitted?
The 10-Q filing was submitted on August 12, 2024.
Filing Stats: 4,344 words · 17 min read · ~14 pages · Grade level 18.6 · Accepted 2024-08-12 16:03:23
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ALXO The Nasdaq Global Se
Filing Documents
- alxo-20240630.htm (10-Q) — 2273KB
- alxo-ex31_1.htm (EX-31.1) — 16KB
- alxo-ex31_2.htm (EX-31.2) — 17KB
- alxo-ex32_1.htm (EX-32.1) — 9KB
- alxo-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-095391.txt ( ) — 8214KB
- alxo-20240630.xsd (EX-101.SCH) — 1004KB
- alxo-20240630_htm.xml (XML) — 1385KB
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 20 Item 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 31 Item 4
Controls and Procedures
Controls and Procedures 32 PART II OTHER INFORMATION Item 1
Legal Proceedings
Legal Proceedings 33 Item 1A
Risk Factors
Risk Factors 33 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 80 Item 3 Defaults Upon Senior Securities 80 Item 4 Mine Safety Disclosures 80 Item 5 Other Information 80 Item 6 Exhibits 81
— 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) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 15,534 $ 22,406 Short-term investments 141,189 160,330 Prepaid expenses and other current assets 11,989 5,923 Total current assets 168,712 188,659 Property and equipment, net 3,316 3,589 Long-term investments 29,475 35,411 Other assets 13,115 14,894 Total assets $ 214,618 $ 242,553 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 8,146 $ 8,591 Payable and accrued liabilities due to related party 226 543 Accrued expenses and other current liabilities 30,077 26,867 Total current liabilities 38,449 36,001 Term loan, non-current 9,769 9,639 Other non-current liabilities 7,083 7,201 Total liabilities 55,301 52,841 Commitments and contingencies (Note 11) Stockholders' equity Common stock, $ 0.001 par value; 1,000,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 52,452,749 and 49,951,989 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 52 50 Additional paid-in capital 720,590 675,678 Accumulated other comprehensive income (loss) ( 73 ) 256 Accumulated deficit ( 561,252 ) ( 486,272 ) Total stockholders' equity 159,317 189,712 Total liabilities and stockholders' equity $ 214,618 $ 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 Six Months Ended June 30, June 30, 2024 2023 2024 2023 Operating expenses: Research and development $ 34