Alx oncology announces proposed public offering

South san francisco, calif., oct. 04, 2023 (globe newswire) -- 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 that it has commenced an underwritten public offering of its common stock and pre-funded warrants. all shares of common stock and pre-funded warrants in this offering will be sold by alx oncology. the proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. alx oncology intends to use the net proceeds from the offering to fund ongoing development of evorpacept, including clinical trials targeting market expansion, and for working capital and general corporate purposes. in addition, the company intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the shares of its common stock offered in the public offering, including shares of common stock underlying the pre-funded warrants.
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