ALX Oncology Q2 FY26 GAAP net loss narrows to $18 million; R&D expenses fall 27.2% to $13.1 million
ALXO•Q2 FY26 loss narrows as R&D spending declines
ALX Oncology posted a GAAP net loss of USD 18 million, narrowing from USD 25.9 million a year earlier; loss per share improved to USD 0.13 from USD 0.49.
R&D expense fell 27.22% to USD 13.1 million on lower clinical and development costs, partly offset by investment in ASPEN-09 and ALX2004.
Pipeline updates for ASPEN-09-Breast and ALX2004
ASPEN-09-Breast Phase 2 topline data from 80 patients remains slated for mid-2027; ALX2004 Phase 1 enrollment continues with initial safety data due in 2H 2026.
CEO Jason Lettmann cited “strong enrollment momentum” for ALX2004 and said the ESMO Breast Cancer data supports evorpacept’s biomarker-driven strategy.
Cash balance rises and runway extends through 1H 2028
Cash, cash equivalents and investments climbed to ; the company expects this to fund operations through .
