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The latest announcement is out from ALX Oncology Holdings ( (ALXO) ).
On January 30, 2026, ALX Oncology priced an underwritten public offering of 76,979,112 shares of common stock at $1.57 per share and pre-funded warrants to purchase 18,574,120 shares at $1.569 per warrant, for expected gross proceeds of approximately $150 million before fees, with the deal scheduled to close on or about February 2, 2026, subject to customary conditions. Led by new investors RA Capital Management and TCGX and joined by a roster of prominent new and existing healthcare investors, the financing strengthens ALX Oncology’s balance sheet and is expected to fund continued clinical development of evorpacept and the ALX2004 program, as well as working capital and general corporate purposes, potentially reinforcing the company’s position in the competitive immuno-oncology and antibody-drug conjugate landscape.
The most recent analyst rating on (ALXO) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on ALX Oncology Holdings stock, see the ALXO Stock Forecast page.
Spark’s Take on ALXO Stock
According to Spark, TipRanks’ AI Analyst, ALXO is a Neutral.
The score is held back primarily by weak financial performance (pre-revenue, large losses and cash burn with a reduced balance-sheet cushion). Offsetting this are encouraging clinical/strategy updates and runway from the latest earnings call, plus improving technical momentum; valuation support is limited by a negative P/E and no dividend.
To see Spark’s full report on ALXO stock, click here.
More about ALX Oncology Holdings
ALX Oncology Holdings Inc., based in South San Francisco and listed on Nasdaq as ALXO, is a clinical-stage biotechnology company developing novel cancer therapies. Its lead candidate, evorpacept, is being tested across multiple clinical trials in a wide range of cancer indications as a potential cornerstone immuno-oncology therapy, while its second program, ALX2004, is a novel EGFR-targeted antibody-drug conjugate currently in a Phase 1 dose-escalation trial for patients with EGFR-expressing solid tumors.
Average Trading Volume: 254,863
Technical Sentiment Signal: Sell
Current Market Cap: $74.28M
For detailed information about ALXO stock, go to TipRanks’ Stock Analysis page.