ALX Oncology (ALXO) IPO Opens 92% Higher

Today's IPO for ALX Oncology Holdings Inc. (NASDAQ: ALXO) opened for trading at $36.50 after pricing 8,500,000 shares of its common stock at a public offering price of $19.00 per share.

In addition, ALX Oncology has granted the underwriters a 30-day option to purchase up to an additional 1,275,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

Jefferies, Credit Suisse, Piper Sandler and Cantor are acting as joint book-running managers for the offering. LifeSci Capital is acting as lead manager for the offering.

ALX Oncology is a 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 advance ALX148 into clinical development for the treatment of myelodysplastic syndromes and to continue clinical development for the treatment of a range of solid tumor indications.

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