ALX Oncology Falls After Updated Data For Solid Tumors Candidate

ALX Oncology Holdings Inc ALXO released additional data from a phase 1b trial of evorpacept in solid tumor malignancies.
One cohort included gastric/gastroesophageal junction cancer patients receiving evorpacept plus Roche Holdings AG's RHHBY Herceptin (trastuzumab), plus chemotherapy.
Results showed an initial objective response rate (ORR) of 72.2% with a median duration of response (mDOR) of 14.8 months, a 12-month overall survival (OS) rate of 79%, and median overall survival (mOS) of 17.1 months.
The Company also shared data from a second cohort of head and neck squamous cell carcinoma patients receiving evorpacept plus Merck & Co Inc's MRK Keytruda (pembrolizumab) with and without chemotherapy.
In patients who did not receive prior treatment, evorpacept had an initial ORR of 38.5% with a 12-month OS rate of 87.5%. mOS was not reached in combination with pembrolizumab + 5FU + platinum.
Preliminary data suggest that evorpacept is well tolerated with no maximum tolerated dose reached.
Price Action: ALXO shares are down 23.5% at $39.86 during the market session on the last check Tuesday.