Investment Thesis
ALX Oncology is a pre-revenue biotech company with severe cash burn of $84.1M operating cash outflow and only $16.4M in cash reserves, creating acute runway risk. The company is unprofitable with negative operating margins and deteriorating cash position relative to burn rate, with no clear path to revenue generation in the near term.
ALXO Strengths
- Adequate current ratio of 2.07x indicates short-term liquidity sufficient for near-term operations
- Moderate debt burden with Debt/Equity of 0.39x suggests manageable leverage relative to equity base
- Recent insider activity with 14 Form 4 filings suggests ongoing executive engagement
ALXO Risks
- Zero revenue with $104M operating loss indicates failed or stalled drug development programs
- Critical cash runway concern: $16.4M cash against $84.1M annual burn rate represents less than 2.5 months of operations
- Severe profitability metrics with ROE of -391.4% and ROA of -172.2% demonstrate value destruction
- Negative $84.4M free cash flow with no offsetting revenue generation creates imminent solvency risk
- Operating cash outflow increasing relative to prior period suggests accelerating cash depletion without progress toward commercialization
Key Metrics to Watch
- Monthly cash burn rate and remaining cash runway
- Clinical trial progress updates and regulatory milestones for pipeline assets
- Any revenue generation or partnership announcements from drug candidates
- Quarterly operating cash flow trend and burn trajectory
- Equity financing activities and dilution risk from future capital raises
ALXO Financial Metrics
ALXO Profitability Ratios
ALXO Balance Sheet & Liquidity
ALXO 5-Year Financial Trend
5-Year Trend Summary: ALX ONCOLOGY HOLDINGS INC's revenue has declined by 75% over the 5-year period, indicating business contraction. The most recent EPS of $-3.74 indicates the company is currently unprofitable.
ALXO Growth Metrics (YoY)
ALXO Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2021 | $1.2M | -$10.2M | N/A |
| Q2 2021 | $527.0K | -$5.5M | N/A |
| Q1 2021 | $655.0K | -$5.5M | N/A |
| Q3 2020 | $1.2M | -$3.0M | N/A |
| Q2 2020 | $527.0K | -$4.2M | N/A |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
ALXO Capital Allocation
ALXO SEC Filings
Access official SEC EDGAR filings for ALX ONCOLOGY HOLDINGS INC (CIK: 0001810182)