$ALXO

ALX ONCOLOGY HOLDINGS INC

CIK:0001810182|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Research and development	$ 13,138	$ 18,022	$ 26,744	$ 41,910
General and administrative	5,133	5,451	10,493	13,383
Lease termination (gain) and impairment charge	(238)	3,175	(238)	3,175
Total operating expenses	18,033	26,648	36,999	58,468
Loss from operations	(18,033)	(26,648)	(36,999)	(58,468)
Interest income	1,508	1,106	2,690	2,589
Interest expense	(285)	(405)	(616)	(811)
Other expense, net	(257)	(2)	(69)	(13)
Loss on debt extinguishment	(904)		(904)
Net loss	$ (17,971)	$ (25,949)	$ (35,898)	$ (56,703)
Net loss per share, basic	$ (0.13)	$ (0.49)	$ (0.3)	$ (1.05)
Net loss per share, diluted	$ (0.13)	$ (0.49)	$ (0.3)	$ (1.05)
Weighted-average shares of common stock used to compute net loss per share, basic	135,639,684	53,445,631	120,097,125	54,031,176
Weighted-average shares of common stock used to compute net loss per share, diluted	135,639,684	53,445,631	120,097,125	54,031,176

Condensed Consolidated Statements of Cash Flows $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)
Operating activities
Net loss		$ (35,898)	$ (56,703)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		5,192	7,352
Depreciation and amortization		236	402
Non-cash lease costs		737	933
Net accretion of discounts on investments		(540)	(837)
Accretion of term loan discount and issuance costs		134	136
Loss on early debt extinguishment	$ 904	904
Gain on lease termination		(2,592)
Lease impairment charge			3,175
Loss on disposal of fixed assets	200	246
Changes in operating assets and liabilities
Prepaid expenses and other current assets		929	652
Other assets		307	(433)
Accounts payable		(1,975)	409
Payable and accrued liabilities due to related party			(109)
Accrued expenses and other current liabilities		(1,652)	(2,019)
Other non-current liabilities		(733)	(1,027)
Net cash used in operating activities		(34,705)	(48,069)
Investing activities
Purchase of investments		(130,240)	(41,177)
Maturities of investments		31,750	91,245
Purchase of property and equipment		(67)	(107)
Proceeds from sale of property and equipment		44
Net cash (used in) provided by investing activities		(98,513)	49,961
Financing activities
Proceeds from equity offering		150,000
Payments of issuance costs related to equity offering		(9,627)
Proceeds from ATM offering, net of commissions		11	372
Proceeds from exercise of stock options under equity incentive plan		743
Proceeds from issuance of common stock under employee stock purchase plan		31	15
Proceeds from exercise of pre-funded warrants		6
Principal payments on finance leases		(543)	(544)
Principal payments on term loan		(2,609)
Payments for early debt extinguishment		(8,176)
Proceeds from issuance of term loan		10,000
Payments of debt issuance costs		(104)
Net cash provided by (used in) financing activities		139,732	(157)
Net increase in cash, cash equivalents and restricted cash		6,514	1,735
Cash, cash equivalents and restricted cash at beginning of year		16,439	17,633
Cash, cash equivalents and restricted cash at end of period	22,953	22,953	19,368
Supplemental disclosure of non-cash investing and financing activities
Purchase of property and equipment in accounts payable and accrued expenses		26	1,060
Debt issuance costs in accounts payable and accrued expenses		193
Right-of-use asset acquired under operating leases		168
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents	22,687	22,687	19,302
Restricted cash (included in prepaid expenses and other current assets)	$ 66	$ 66
Restricted Cash and Cash Equivalent, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Restricted cash (included in other assets)	$ 200	$ 200	66
Restricted Cash and Cash Equivalent, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Total cash, cash equivalents and restricted cash	$ 22,953	$ 22,953	$ 19,368

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 22,687	$ 16,373
Short-term investments	115,542	28,417
Prepaid expenses and other current assets	5,228	5,937
Total current assets	143,457	50,727
Property and equipment, net	166	1,200
Long-term investments	15,147	3,494
Other assets	2,050	3,625
Total assets	160,820	59,046
Current liabilities:
Accounts payable	3,022	4,914
Term loan, current	0	5,217
Accrued expenses and other current liabilities	11,754	14,422
Total current liabilities	14,776	24,553
Term loan, non-current	9,705	4,532
Other non-current liabilities	152	3,980
Total liabilities	24,633	33,065
Commitments and contingencies (Note 11)
Stockholders’ equity
Common stock, $0.001 par value; 1,000,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 138,216,247 and 54,388,022 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	138	54
Additional paid-in capital	894,988	748,716
Accumulated other comprehensive income	(224)	28
Accumulated deficit	(758,715)	(722,817)
Total stockholders’ equity	136,187	25,981
Total liabilities and stockholders’ equity	$ 160,820	$ 59,046