ALX Oncology soars on Phase II results of evorpacept in gastric cancer

4 October 2023

US clinical-stage immuno-oncology company ALX Oncology Holdings (Nasdaq: ALXO) saw its shares rocket 56% to $7.51 yesterday, as it announced positive clinical results for its lead asset after a previous disappointment.

ALX announced positive prespecified interim Phase II data from its ASPEN-06 clinical trial, a randomized multi-center international study evaluating evorpacept, the company’s CD47 blocking therapeutic, in combination with trastuzumab, Cyramza (ramucirumab) and paclitaxel for the treatment of patients with HER2-positive gastric/gastroesophageal junction (GEJ) cancer.

Just a couple of months ago, ALX said it is cutting two studies of evorpacept after it failed to show substantial efficacy.

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