ALX Oncology Shares Jump As ALX148 Shows ORR of 72% In Patients With HER2 Positive Stomach Cancer - ALX Oncology Holdings (NASDAQ:ALXO)

ALX Oncology Holdings Inc ALXO announced updated data from its ongoing ASPEN-01 Phase 1b trial evaluating ALX148 in combination with trastuzumab and chemotherapy to treat gastric or gastroesophageal junction cancer (GC).
The new data were shared at the World Congress on Gastrointestinal Cancer.
Data showed that ALX148, combined with trastuzumab and chemotherapy, is highly active and well-tolerated in patients with second-line or greater HER2 positive GC.
As of the data cut-off of May 3, 2021, ALX148 demonstrated a favorable initial confirmed objective response rate (ORR) of 72% and estimated overall survival (OS) at 12 months of 76%.
These results compare favorably to randomized historical control studies; RAINBOW reported an ORR of 28% and OS at 12 months of 40%, and DESTINY-01 reported an ORR of 41% and OS at 12 months of 52%.
Preliminary data suggest that ALX148 can be combined with trastuzumab, ramucirumab, and paclitaxel with no maximum tolerated dose reached.
The maximum administered dose of ALX148 in combination was 15 mg/kg once weekly.
ALX Oncology will host a conference call today at 8:30 a.m. E.T.
Price Action: ALXO shares are up 19.9% at $67 during the premarket session on the last check Tuesday.