10-K · March 9, 2026
ALX Oncology is a clinical‑stage biotech focused on developing evorpacept (CD47 blocker) and an EGFR‑targeted ADC (ALX2004). The 10‑K highlights meaningful Phase 2 efficacy (ASPEN‑06) and biomarker signal while the…
Earnings analysis · 10-Q
ALXO earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
ALX Oncology's Q1 2026 10-Q reported a net loss of $17.9 million, or $0.17 per share, significantly better than the consensus estimate of -$0.16. This improvement was aided by a 43% reduction in R&D expenses to $13.6…
Read full summary
ALX Oncology's Q1 2026 10-Q reported a net loss of $17.9 million, or $0.17 per share, significantly better than the consensus estimate of -$0.16. This improvement was aided by a 43% reduction in R&D expenses to $13.6 million, allowing cash and investments to increase to $169.1 million, despite ongoing operational losses.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.17
What stood out
-
Significant EPS Beat
Q1 2026 EPS reported at -$0.17, beating estimates of -$0.16.
-
Reduced R&D Spending
R&D expenses dropped by $10.3 million (43%) to $13.6 million compared to Q1 2025.
-
Increased Cash Position
Cash, cash equivalents, and investments grew to $169.1 million.
-
Narrower Operating Loss
Operating loss improved by $12.9 million (40%) to $18.966 million from $31.820 million in Q1 2025.
-
Lower General & Admin Expenses
General and administrative expenses decreased by $2.57 million (32%) to $5.36 million for Q1 2026.
-
Successful Clinical Trials
Advancement of evorpacept with promising data presented from ongoing clinical trials.
What to watch
-
Ongoing Net Losses
Net losses for Q1 2026 were $17.9 million, indicating continued financial challenges.
-
Regulatory Risks
Both evorpacept and ALX2004 are subject to unpredictable FDA approval processes.
-
Dependence on Key Personnel
As a clinical-stage company, loss of key personnel could critically affect operations.
Management's outlook
No explicit numeric guidance provided; forward outlook deferred to future announcements.
Earlier filings 4
10-Q · August 12, 2025
ALX reported a narrower Q2 2025 net loss of $25.9M (EPS $(0.49)) versus Q2 2024 net loss of $39.4M (EPS $(0.76)), driven primarily by a reduction in R&D spending. Operating cash use improved to $(48.1)M for the six…
10-Q · May 8, 2025
ALX reported a narrower net loss of $30,754,000 in Q1 2025 versus $35,581,000 in Q1 2024 (EPS improved to $(0.58) from $(0.71)). Research and development expense declined meaningfully to $23,888,000 from $31,717,000 as…
10-K · March 6, 2025
ALX Oncology is a clinical-stage immuno-oncology company advancing evorpacept, a next‑generation CD47 blocker designed with an inactivated Fc to improve tolerability and combination potential. Recent clinical readouts…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.