Immuno-Oncology Focused ALX Oncology Stock Falls On Updated Data From Mid-Stage Evorpacept Combo Study In Gastric Cancer Patients
Portfolio Pulse from Vandana Singh
ALX Oncology Holdings Inc. (NASDAQ:ALXO) released topline data from its Phase 2 ASPEN-06 clinical trial, showing that the combination of evorpacept with standard therapy improved response rates and duration in HER2-positive gastric/GEJ cancer patients. Despite positive results, ALXO stock fell 34.40% in premarket trading.
August 01, 2024 | 1:05 pm
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ALX Oncology's Phase 2 ASPEN-06 trial data showed improved response rates and duration for evorpacept in combination with standard therapy for HER2-positive gastric/GEJ cancer. Despite the positive clinical data, ALXO stock fell 34.40% in premarket trading.
The release of positive clinical trial data typically boosts a company's stock price. However, ALXO's significant drop suggests that investors may have had higher expectations or concerns about other aspects such as valuation or future risks. The stock's sharp decline indicates a negative short-term impact.
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