Following this transaction, Pinto holds 87,902 shares directly. The sale was conducted to satisfy tax obligations related to the vesting of restricted stock units. While the company holds more cash than debt on its balance sheet, InvestingPro data reveals it's quickly burning through cash reserves. Track insider trading patterns and access 10+ additional exclusive insights with InvestingPro. While the company holds more cash than debt on its balance sheet, InvestingPro data reveals it's quickly burning through cash reserves. Track insider trading patterns and access 10+ additional exclusive insights with InvestingPro. Following this transaction, Pinto holds 87,902 shares directly. The sale was conducted to satisfy tax obligations related to the vesting of restricted stock units.
In other recent news, ALX Oncology has experienced several significant developments. Jefferies recently downgraded ALX Oncology's stock from 'Buy' to 'Hold' due to uncertainty surrounding the company's 2025 readouts. This decision followed a detailed assessment of the company's recent clinical trial outcomes, which showed a drop in efficacy in the latter part of their Phase II gastric cancer study.
Concurrently, Stifel maintained its 'Hold' rating on ALX Oncology's shares, following the release of positive results from a clinical trial involving ALX Oncology's evo and JAZZ Pharmaceuticals' zanidatamab. The trial demonstrated a high response rate in patients with HER2-positive metastatic breast cancer, leading ALX Oncology to advance evo into the second-line treatment setting.
Additionally, the U.S. Food and Drug Administration granted Fast Track designation to evorpacept for the treatment of HER2-positive gastric or GEJ carcinoma. ALX Oncology also reported positive results from its Phase 2 ASPEN-06 clinical trial, which evaluated the efficacy of evorpacept in patients with HER2-positive advanced gastric or gastroesophageal junction cancer.
Finally, ALX Oncology announced the resignation of its Chief Medical (TASE:PMCN) Officer, Sophia Randolph, who will continue to provide consulting services to the company for up to 18 months. These are recent developments in ALX Oncology.
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