ALX Oncology Holdings Inc (NASDAQ:ALXO) Reports Q2 2025 Results with Wider Loss but Strong Clinical Progress

ALX ONCOLOGY HOLDINGS INC (NASDAQ:ALXO [https://www.chartmill.com/stock/quote/ALXO]) reported its second-quarter 2025 financial results, posting a net loss of $25.9 million, or $0.49 per share, compared to a net loss of $39.4 million, or $0.76 per share, in the same period last year. The company reported no revenue, in line with analyst expectations, as it remains a clinical-stage biotech firm with no commercialized products.

EARNINGS AND REVENUE VS. ESTIMATES

* REPORTED EPS: -$0.49 vs. ESTIMATED EPS: -$0.459 (wider loss than expected).
* REPORTED REVENUE: $0.0 vs. ESTIMATED REVENUE: $0.0 (in line).

The wider-than-expected loss did not trigger a sharp negative reaction in after-hours trading, with shares declining only -2.24% post-release. This muted reaction suggests investors may be more focused on clinical progress than short-term financials.

KEY HIGHLIGHTS FROM THE PRESS RELEASE

*
CLINICAL ADVANCEMENTS:

* EVORPACEPT (CD47 INHIBITOR): Data from the ASPEN-06 TRIAL in HER2+ gastric cancer showed CD47 expression as a predictive biomarker. Patients with high CD47 levels had a 65% OBJECTIVE RESPONSE RATE (ORR) when treated with evorpacept plus standard therapy, versus 26% in the control group.
* ASPEN-BREAST TRIAL UPDATE: The study design was amended to a single-arm format, with an interim readout expected in Q3 2026.
* ALX2004 (EGFR-TARGETED ADC): Phase 1 trial enrollment is on track to begin in AUGUST 2025, with initial safety data expected in H1 2026.

*
FINANCIAL POSITION:

* Cash reserves of $83.5 MILLION, extending the runway into Q1 2027.
* R&D expenses decreased to $18.0 MILLION (from $34.7 million YoY) due to reduced clinical trial material manufacturing and pipeline prioritization.

*
LEADERSHIP CHANGES:

* DR. DANIEL CURRAN was appointed to the Board of Directors, bringing extensive drug development and corporate strategy experience.

MARKET REACTION & OUTLOOK

Despite the wider loss, ALX Oncology’s stock has shown resilience, gaining +31.08% OVER THE PAST MONTH ahead of the earnings release. The lack of a steep sell-off post-earnings suggests investors remain optimistic about:

* The POTENTIAL OF EVORPACEPT in biomarker-selected populations.
* Upcoming CLINICAL MILESTONES in breast cancer and ALX2004.

Analyst estimates for Q3 2025 project a loss of -$0.377 PER SHARE, with no revenue expected. Full-year 2025 estimates anticipate a LOSS OF -$1.82 PER SHARE, reflecting the company’s continued investment in clinical trials.

CONCLUSION

ALX Oncology’s earnings report underscores its focus on clinical execution rather than near-term profitability. The market’s tempered reaction indicates that investors are weighing the company’s LONG-TERM POTENTIAL IN ONCOLOGY over short-term financial metrics.

For more detailed earnings and estimates, visit ALX Oncology’s earnings page [https://www.chartmill.com/stock/quote/ALXO/earnings-estimates].

DISCLAIMER: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.