SOUTH SAN FRANCISCO - ALX Oncology Holdings Inc. (NASDAQ:ALXO), a clinical-stage immuno-oncology company, announced today the appointment of Allison Dillon, Ph.D., as its new Chief Business Officer. Dr. Dillon's extensive experience in oncology product development and commercial strategy is expected to be instrumental as the company prepares for multiple clinical study outcomes within the next year.
Dr. Dillon joins ALX Oncology from Calithera Biosciences, where she served as Senior Vice President of Commercial and Portfolio Strategy until 2023. Her previous roles at Genentech included driving the commercial launch plan for TECENTRIQ and serving as Marketing Lead for GU indications. Dr. Dillon has also worked in management consulting and academic research, contributing to her broad expertise in the biopharmaceutical industry.
Jason Lettmann, CEO of ALX Oncology, expressed confidence in Dr. Dillon's ability to advance the company's lead product candidate, evorpacept, which is seen as a potential first-in-class therapy in combination with other anti-cancer agents. Evorpacept is designed to block the CD47 immune checkpoint pathway and has shown promising activity and tolerability in clinical trials involving over 500 subjects across various cancer types.
The company's focus remains on the development of evorpacept in combination with anti-cancer antibodies, antibody-drug conjugates, and PD-1/PD-L1 immune checkpoint inhibitors. These clinical developments are backed by a strong balance sheet, which Dr. Dillon noted positions ALX Oncology for greater success.
This news is based on a press release statement.
InvestingPro Insights
As ALX Oncology Holdings Inc. (NASDAQ:ALXO) welcomes Dr. Allison Dillon as its new Chief Business Officer, the company's financial health and market performance provide a backdrop to the strategic decisions ahead. With a market capitalization of $796.87 million, ALXO's financial position shows a blend of strengths and challenges. According to InvestingPro, the company holds more cash than debt on its balance sheet, which is a positive sign for financial stability. This is particularly important as the company continues to invest in the development of evorpacept and prepares for upcoming clinical study outcomes.
However, it's important to note that ALXO is quickly burning through its cash reserves and has not been profitable over the last twelve months, with an adjusted P/E ratio of -4.96. This underlines the importance of Dr. Dillon's role in steering the company's commercial strategy and capitalizing on its assets effectively. The company's stock price has seen a strong return over the last month, with a 29.03% price total return, and an even more impressive 147.72% return over the last year, reflecting investor optimism about ALX Oncology's potential.
InvestingPro Tips also reveal that while ALXO does not pay a dividend to shareholders, its liquid assets exceed short-term obligations, offering some reassurance about the company's ability to meet its immediate financial commitments. For investors seeking more in-depth analysis and additional InvestingPro Tips, there are 11 tips available for ALXO on InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to exclusive insights that could inform your investment decisions.
As the company navigates its clinical and commercial pathways, these InvestingPro metrics and tips will be crucial for investors monitoring ALX Oncology's progress and potential.
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