ALX Oncology (ALXO) Corporate presentation summary

Pipeline and development focus

• Advancing two lead programs: Evorpacept (CD47 blocker) and ALX2004 (EGFR ADC), both targeting significant unmet needs in oncology.

• Evorpacept is being evaluated in multiple combinations and tumor types, including breast cancer, gastric cancer, and lymphoma.

• ALX2004, a differentiated EGFR-targeted ADC, is in Phase 1 dose escalation for solid tumors such as NSCLC, CRC, HNSCC, and ESCC.

• Key clinical milestones anticipated in 2026: interim ASPEN-Breast data (Q3 2026) and initial ALX2004 safety data (1H 2026).

• Cash runway projected into Q1 2027, with $67M in cash and equivalents as of September 30, 2025.

Evorpacept clinical highlights

• Evorpacept features an inactive Fc domain, minimizing toxicity compared to conventional CD47 blockers.

• Demonstrated robust clinical activity and tolerability in combination with anti-cancer antibodies across multiple trials.

• In ASPEN-06 Phase 2, addition of Evorpacept to standard therapy improved ORR, PFS, and OS in HER2+ gastric cancer, especially in CD47-high patients.

• CD47 expression acts as a predictive biomarker for response and duration of benefit.

• Manageable safety profile observed in >750 patients, with adverse events comparable to control arms.

Market opportunity and strategy

• Targeting significant commercial opportunities in HER2+ and CD47-high breast cancer, with an estimated $2–4B market in 2L+ settings.

• Evorpacept development includes both company-sponsored and partner-supported trials, retaining worldwide rights.

• Ongoing studies will inform registrational strategies and potential expansion into earlier lines of therapy.