Jefferies initiated coverage of ALX Oncology (ALXO) with a Buy rating and $4 price target ALX has strategically focused on two lead programs, Evorpacept in post-ENHERTU HER2+ mBC using prospective CD47 enrichment, supported by “encouraging” gastric data and ALX2004, an ADC with a differentiated design for wider therapeutic window in solid tumors, the analyst tells investors.
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