RTTNews | Nov 9, 2021 11:14AM EST

11:14 Tuesday, November 9, 2021 (RTTNews.com) - Shares of ALX Oncology Holdings Inc. (ALXO) slipped nearly 25% on Tuesday morning. The company announced updated data from an ongoing clinical trial of Evorpacept, which showed emerging clinical benefit in survival-based endpoints in patients with advanced solid tumors.

ALXO is currently trading at $39.40, down $12.72 or 24.40%, on the Nasdaq, on a volume of 650 thousand shares, above average volume of 233 thousand shares. The stock has traded between $36.72 and $117.45 in the 52-week period.

The company said that in patients with HER2 positive Gastric/Gastroesophageal Junction Cancer, evorpacept in combination with trastuzumab plus ramucirumab and paclitaxel demonstrated an initial objective response rate of 72.2% with a median duration of response of 14.8 months, a 12-month overall survival rate of 79%, and a median overall survival of 17.1 months. These results compare favorably with the clinical experience of both ramucirumab + paclitaxel and trastuzumab-deruxtecan in similar populations.

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