ALX Oncology Secures $150M, Evorpacept Hits 65% ORR, ALX2004 Enters Dose Level Three
ALX Oncology closed a $150 million financing that extends cash runway through H1 2028 and supports making evorpacept and ALX2004 pivotal-ready by end of 2027. Evorpacept achieved a 65% ORR versus 26% control in CD47-overexpressing HER2-positive gastric cancer and ALX2004 has entered dose level three with additional safety data expected in H2 2026.
1. Financing and Strategic Runway
ALX Oncology closed a $150 million private financing that extends its cash runway through the first half of 2028 and supports plans to advance evorpacept and ALX2004 to pivotal readiness by end-2027.
2. Evorpacept Clinical Progress and Breast Cancer Focus
Evorpacept, a CD47-blocking antibody with an inactive Fc region designed to minimize toxicities, showed a 65% ORR versus 26% in CD47-overexpressing HER2-positive gastric cancer with a 25.5-month median duration of response and PFS hazard ratio of 0.39; ASPEN-09 breast cancer trial enrollment began in January, expanded to 120 post-Enhertu patients with primary endpoint refined to CD47-high responders.
3. ALX2004 ADC Enters Dose Escalation
ALX2004, an EGFR-targeted ADC with a TOPO1 payload (DAR 8), has entered dose level three in its phase 1 study; additional safety readouts are expected in the second half of 2026 and partnering discussions are underway pending clear safety and efficacy signals.