ALX Oncology Holdings Inc.
ALXOHealthcare|Biotechnology|US
$1.16
+0.01 (+0.43%)
DCF Value
$0.13
Tangible Book / Share
$1.00
Cash / Share
$1.02
Financials
Financial Snapshot
Market Cap
$159.7M
Enterprise Value
$146.7M
Revenue (TTM)
$0.00
Net Income (TTM)
-$80.9M
Cash & Investments
$138.2M
Net Cash
$128.5M
Free Cash Flow (TTM)
-$71.0M
Operating CF (TTM)
-$70.8M
Debt/Equity
0.07
Cash Runway & Burn Rate
Cash on Hand
$138.2M
Quarterly Burn
$17.7M
Monthly Burn
$5.9M
Est. Runway
~7.8 quarters
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $8.3M | $9.0M | $434.2M | $363.7M | $266.2M | $182.7M | $127.8M | $44.8M | $138.2M | |
| Operating Cash Flow | -$13.2M | -$14.2M | -$38.3M | -$68.1M | -$89.2M | -$130.4M | -$121.9M | -$84.1M | -$70.8M | |
| Free Cash Flow | -$13.8M | -$14.6M | -$38.3M | -$73.0M | -$90.7M | -$131.6M | -$122.4M | -$84.4M | -$71.0M | |
| Capital Expenditure | -$653.0K | -$353.0K | -$31.0K | -$4.9M | -$1.4M | -$1.3M | -$447.0K | -$212.0K | -$172.0K | |
| Financing Cash Flow | $1.0K | $15.4M | $462.9M | $2.5M | $9.9M | $59.3M | $30.8M | $362.0K | $140.3M |
R&D Spending
R&D (TTM)
$61.8M
R&D Intensity
—
R&D Growth vs Prior
-19.7%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1M | $4.8M | $1.2M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $11.3M | $16.3M | $29.0M | $60.2M | $98.4M | $141.8M | $116.4M | $77.0M | $61.8M | |
| R&D % of Revenue | 545.2% | 340.0% | 2450.2% | — | — | — | — | — | — | |
| SG&A | $2.6M | $3.3M | $14.8M | $23.4M | $29.0M | $28.5M | $26.1M | $23.9M | $21.0M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1M | $4.8M | $1.2M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $1.9M | $4.4M | $1.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $150.0K | |
| Gross Profit | $187.0K | $436.0K | $107.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$150.0K | |
| R&D | $11.3M | $16.3M | $29.0M | $60.2M | $98.4M | $141.8M | $116.4M | $77.0M | $61.8M | |
| SG&A | $2.6M | $3.3M | $14.8M | $23.4M | $29.0M | $28.5M | $26.1M | $23.9M | $21.0M | |
| Operating Income | -$13.7M | -$19.2M | -$43.7M | -$83.6M | -$127.4M | -$170.3M | -$142.5M | -$104.0M | -$82.6M | |
| Interest Expense | $0.00 | $21.0K | $811.0K | $13.0K | $238.0K | $1.6M | $1.7M | $1.6M | $1.4M | |
| Pretax Income | -$13.7M | -$19.2M | -$45.5M | -$83.5M | -$123.4M | -$160.8M | -$134.8M | -$101.7M | -$80.9M | |
| Net Income | -$13.7M | -$19.2M | -$45.7M | -$83.5M | -$123.5M | -$160.8M | -$134.8M | -$101.7M | -$80.9M | |
| EPS (Diluted) | -0.79 | -0.88 | -1.28 | -2.07 | -3.03 | -3.74 | -2.58 | -1.90 | -1.13 | |
| EBITDA | -$13.3M | -$18.8M | -$43.5M | -$83.4M | -$122.8M | -$158.4M | -$132.2M | -$99.4M | -$78.9M | |
| Shares Out. (M) | 21.95 | 21.95 | 39.84 | 40.31 | 40.70 | 42.99 | 52.17 | 53.66 | 135.64 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.3M | $9.0M | $434.2M | $363.7M | $48.8M | $22.4M | $17.6M | $16.4M | $22.7M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $217.4M | $160.3M | $110.2M | $28.4M | $115.5M | |
| Total Current Assets | $10.2M | $9.8M | $436.0M | $367.0M | $271.0M | $188.7M | $134.4M | $50.7M | $143.5M | |
| Total Assets | $11.2M | $10.7M | $436.1M | $380.2M | $306.5M | $242.6M | $147.8M | $59.0M | $160.8M | |
| Total Current Liabilities | $1.9M | $5.0M | $6.2M | $15.3M | $28.3M | $36.0M | $18.5M | $24.6M | $14.8M | |
| Long-Term Debt | $0.00 | $5.4M | $0.00 | $0.00 | $9.4M | $9.6M | $9.5M | $0.00 | $9.7M | |
| Total Liabilities | $2.0M | $11.0M | $6.2M | $17.1M | $43.0M | $52.8M | $34.2M | $33.1M | $24.6M | |
| Stockholders' Equity | $9.2M | -$276.0K | $429.8M | $363.0M | $263.5M | $189.7M | $113.6M | $26.0M | $136.2M | |
| Retained Earnings | -$53.5M | -$72.8M | -$118.5M | -$202.0M | -$325.5M | -$486.3M | -$621.1M | -$722.8M | -$758.7M |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$13.2M | -$14.2M | -$38.3M | -$68.1M | -$89.2M | -$130.4M | -$121.9M | -$84.1M | -$70.8M | |
| Capital Expenditure | -$653.0K | -$353.0K | -$31.0K | -$4.9M | -$1.4M | -$1.3M | -$447.0K | -$212.0K | -$172.0K | |
| Free Cash Flow | -$13.8M | -$14.6M | -$38.3M | -$73.0M | -$90.7M | -$131.6M | -$122.4M | -$84.4M | -$71.0M | |
| Investing Cash Flow | -$653.0K | -$353.0K | $610.0K | -$4.9M | -$235.4M | $44.7M | $86.3M | $82.6M | -$65.9M | |
| Financing Cash Flow | $1.0K | $15.4M | $462.9M | $2.5M | $9.9M | $59.3M | $30.8M | $362.0K | $140.3M | |
| Issuance of Stock | $0.00 | $0.00 | $368.3M | $2.8M | $903.0K | $58.9M | $31.6M | $1.7M | $142.7M | |
| Repurchase of Stock | -$6.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $5.9M | $0.00 | -$281.0K | $9.6M | -$388.0K | -$827.0K | -$1.4M | -$2.1M | |
| Stock Based Comp. | $269.0K | $297.0K | $5.4M | $13.9M | $23.8M | $26.3M | $27.1M | $12.6M | $10.4M | |
| Net Change in Cash | -$13.8M | $755.0K | $425.2M | -$70.6M | -$314.8M | -$26.4M | -$4.8M | -$1.2M | $3.6M |
Dilution Tracker
Shares outstanding grew 34.7% over 5 years — significant dilution
Shares Outstanding
138M
5-Year Share Growth
+34.7%
Stock Issuance (TTM)
$142.7M
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 21.95 | 21.95 | 39.84 | 40.31 | 40.70 | 42.99 | 52.17 | 53.66 | 135.64 | |
| Change vs Prior % | — | 0.0% | 81.5% | 1.2% | 1.0% | 5.6% | 21.4% | 2.8% | 152.8% | |
| Stock Issuance | $0.00 | $0.00 | $368.3M | $2.8M | $903.0K | $58.9M | $31.6M | $1.7M | $142.7M | |
| Stock Repurchase | -$6.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $269.0K | $297.0K | $5.4M | $13.9M | $23.8M | $26.3M | $27.1M | $12.6M | $10.4M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 9.0% | 9.1% | 9.1% | — | — | — | — | — | — | |
| Operating Margin % | -662.0% | -400.0% | -3694.0% | — | — | — | — | — | — | |
| Net Margin % | -664.3% | -401.2% | -3869.7% | — | — | — | — | — | — | |
| EBITDA Margin % | -641.3% | -391.1% | -3676.9% | — | — | — | — | — | — | |
| FCF Margin % | -669.7% | -304.5% | -3242.0% | — | — | — | — | — | — | |
| ROE % | -150.0% | 6972.1% | -10.6% | -23.0% | -46.9% | -84.8% | -118.7% | -391.4% | -90.3% | |
| ROA % | -123.0% | -180.2% | -10.5% | -22.0% | -40.3% | -66.3% | -91.3% | -172.2% | -50.3% | |
| ROIC % | -147.3% | -337.0% | -10.2% | -22.8% | -45.6% | -81.8% | -108.2% | -262.0% | -56.5% | |
| R&D / Revenue % | 545.2% | 340.0% | 2450.2% | — | — | — | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 132.0% | -75.4% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 133.2% | -75.5% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | -40.2% | -127.6% | -91.4% | -52.5% | -33.6% | 16.3% | 27.0% | |
| Net Income | 0.0% | -40.1% | -137.7% | -82.5% | -47.9% | -30.2% | 16.1% | 24.6% | |
| EPS (Diluted) | 0.0% | -11.4% | -45.5% | -61.7% | -46.4% | -23.4% | 31.0% | 26.4% | |
| Operating Cash Flow | 0.0% | -8.0% | -168.7% | -77.9% | -31.0% | -46.1% | 6.5% | 31.0% | |
| Free Cash Flow | 0.0% | -5.5% | -162.4% | -90.6% | -24.1% | -45.2% | 7.0% | 31.1% | |
| R&D Expense | 0.0% | 44.7% | 77.6% | 107.8% | 63.5% | 44.1% | -17.9% | -33.8% | |
| SG&A Expense | 0.0% | 27.4% | 347.0% | 57.9% | 24.2% | -1.9% | -8.4% | -8.6% | |
| Total Assets | 0.0% | -4.4% | 3984.4% | -12.8% | -19.4% | -20.9% | -39.1% | -60.0% | |
| Book Value / Share | 0.0% | -103.0% | 85901.6% | -16.5% | -28.1% | -31.8% | -50.7% | -77.8% | |
| Debt | 0.0% | 0.0% | -100.0% | 0.0% | 1305.7% | 64.9% | -1.3% | -69.3% | |
| Diluted Shares | 0.0% | 0.0% | 81.5% | 1.2% | 1.0% | 5.6% | 21.4% | 2.8% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High137.31 / 318.60 / 2905.75
P/B1.15
10Y Low / Med / High0.77 / 2.39 / 71.93
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High136.56 / 314.60 / 2538.39
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.13
Tangible Book / Share
$1.00
Net Current Assets / Share
$0.86
Graham Net-Net
$0.84
Cash / Share
$1.02
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -37.97 | -34.09 | -67.34 | -10.38 | -3.72 | -3.98 | -0.65 | -0.59 | -1.02 | |
| P/S Ratio | 318.60 | 137.31 | 2905.75 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 71.93 | -2386.02 | 7.99 | 2.39 | 1.74 | 3.37 | 0.77 | 2.33 | 1.15 | |
| EV/EBITDA | -49.06 | -34.91 | -69.04 | -6.03 | -3.42 | -4.01 | -0.65 | -0.50 | -1.86 | |
| EV/Revenue | 314.60 | 136.56 | 2538.39 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-3.39
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $4.6M | $5.3M | $54.5M |
| Net Income | -$30.0M | -$30.8M | -$29.2M |
| EPS | $-0.56 | $-0.55 | $-0.52 |
| # Analysts (EPS) | 3 | 5 | 6 |