Bet­ting on CD47 as oth­ers ditch the tar­get, ALX bor­rows up to $100M to push sole clin­i­cal drug for­ward

At its peak, ALX On­col­o­gy $ALXO was trad­ing at $88 per share, rid­ing on the promise of block­ing CD47, which can­cer cells use to broad­cast a “don’t eat me” sig­nal. To­day, it’s at un­der $13. The plunge came af­ter two read­outs late last year for its sole clin­i­cal can­di­date evor­pacept — an up­date at the ​​So­ci­ety for Im­munother­a­py of Can­cer’s (SITC) an­nu­al meet­ing and a dis­ap­point­ing show­ing at ASH.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER