ALX Oncology Announces Pricing of Public Offering
05 Octobre 2023 - 2:00PM
ALX Oncology Holdings Inc., (“ALX Oncology” or the “Company”)
(Nasdaq: ALXO), an immuno-oncology company developing therapies
that block the CD47 immune checkpoint pathway, today announced the
pricing of its previously announced underwritten public offering of
common stock and pre-funded warrants. ALX Oncology is selling
7,370,690 shares of common stock and, in lieu of common stock to
certain investors, pre-funded warrants to purchase 1,250,000 shares
of common stock in the offering. The shares of common stock are
being sold at a public offering price of $6.38 per share, the
closing price on October 4, 2023, and the pre-funded warrants are
being sold at a public offering price of $6.379 per pre-funded
warrant, which represents the per share public offering price for
each common share less the $0.001 per share exercise
price for each pre-funded warrant. The gross proceeds to ALX
Oncology from this offering are expected to be approximately $55.0
million, before deducting the underwriting discounts and
commissions and other estimated offering expenses, and excluding
the exercise of any pre-funded warrants. All shares of common stock
and pre-funded warrants to be sold in the offering are being
offered by the Company. In addition, ALX Oncology has granted the
underwriters a 30-day option to purchase up to an additional
1,293,103 shares of its common stock at the public offering price
per share less underwriting discounts and commissions. The offering
is expected to close on or about October 10, 2023, subject to the
satisfaction of customary closing conditions.
ALX Oncology anticipates using the net proceeds from the
offering to fund the continued clinical development of evorpacept
and the related clinical trials, including ASPEN-06 clinical trial,
and for working capital and other general corporate purposes.
Piper Sandler and Cantor are acting as joint lead book-running
managers for the offering. UBS Investment Bank is also acting as a
book-running manager for the offering. LifeSci Capital and H.C.
Wainwright & Co. are acting as lead managers for the
offering.
The securities described above are being offered by ALX Oncology
pursuant to a shelf registration statement previously filed with
and declared effective by the Securities and Exchange Commission
(the "SEC"). A preliminary prospectus supplement related to the
offering has been filed with the SEC and is available on the SEC's
website at www.sec.gov. A final prospectus supplement related to
the offering will be filed with the SEC and will be available on
the SEC's website at www.sec.gov. Copies of the final prospectus
supplement and the accompanying prospectus relating to this
offering may be obtained, when available, from: Piper Sandler &
Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, Minnesota 55402, by telephone at (800) 747-3924, or by
email at prospectus@psc.com; or Cantor Fitzgerald & Co.,
Attention: Capital Markets, 110 East 59th Street, 6th Floor, New
York, New York 10022, or by email at prospectus@cantor.com
or UBS Securities LLC, Attention: Prospectus
Department, 1285 Avenue of the Americas, New York,
NY 10019, by telephone at (888) 827-7275 or by email
at ol-prospectus-request@ubs.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About ALX Oncology
ALX Oncology is a publicly traded, clinical-stage
immuno-oncology company focused on helping patients fight cancer by
developing therapies that block the CD47 immune checkpoint
inhibitor and bridge the innate and adaptive immune system. ALX
Oncology’s lead product candidate, evorpacept, is a next generation
CD47 blocking therapeutic that combines a high-affinity CD47
binding domain with an inactivated, proprietary Fc domain.
Evorpacept has demonstrated promising clinical responses across a
range of hematologic and solid malignancies in combination with a
number of leading anti-cancer antibodies. ALX Oncology is currently
focusing on combining evorpacept with anti-cancer antibodies, ADCs,
and PD-1/PD-L1 immune checkpoint inhibitors.
Cautionary Note Regarding Forward-Looking
Statements
This announcement contains forward-looking statements, including
statements relating to ALX Oncology’s expectations regarding the
anticipated use of proceeds, and the completion of the public
offering. These statements are subject to significant risks and
uncertainties and actual results could differ materially from those
projected. ALX Oncology cautions investors not to place undue
reliance on the forward-looking statements contained in this
release. These risks and uncertainties include, without limitation,
risks and uncertainties related to market conditions, and the
satisfaction of customary closing conditions related to the public
offering. There can be no assurance that the Company will be able
to complete the public offering. These and other risks are
described more fully in ALX Oncology’s filings with the Securities
and Exchange Commission (“SEC”), including ALX Oncology’s Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q and other
documents ALX Oncology files with the SEC from time to time. Except
to the extent required by law, ALX Oncology undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were
made.
Investor Contact:
Peter Garcia
Chief Financial Officer, ALX Oncology
(650) 466-7125 Ext. 113
peter@alxoncology.com
Malini Chatterjee, Ph.D.
Blueprint Life Science Group
mchatterjee@bplifescience.com
Media Contact:
Karen Sharma
MacDougall
(781) 235-3060
alx@macbiocom.com
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