ALXO ALX Oncology Holdings Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$1.22
· of 52w range
· above low
· to high
$1.0552w low
$2.6552w high
Market Cap (MRQ)
$169M
P/E
-1.6
EPS
$-1.90
your badges
52W Range
$1–$3
Analyst Rating
BUY
Price Target
$5
P/E
-1.6
ROE
-225.0%
Net Profit Margin
·
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ALXO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.22
Market Cap (MRQ)
$169M
P/E
-1.6
EPS
$-1.90
ROE
-225.0%
Debt/Equity (MRQ)
0.1
52W Range
$1–$3
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue·2018-12-31 → 2022-12-31
EPS$-1.902020-12-31 → 2025-12-31
Free Cash Flow$-84M2020-12-31 → 2025-12-31
Net margin·2020-12-31 → 2020-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ALXO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -1.65Y avg ≈-3.9 | ≈-3.9 | · | · | |
| P/S | 45.25Y avg ≈79.8 | ≈79.8 | 7.8 | Overvalued | |
| P/B (MRQ) | 1.25Y avg ≈2.2 | ≈2.2 | 2.1 | Fair value | |
| EV / EBITDA (TTM) | -0.55Y avg ≈-1.3 | ≈-1.3 | · | · | |
| Price / FCF (TTM) | -2.45Y avg ≈-5.0 | ≈-5.0 | · | · | |
| Price / Cash Flow (TTM) | -2.45Y avg ≈-5.0 | ≈-5.0 | · | · | |
| EV / Revenue | 35.85Y avg ≈50.7 | ≈50.7 | · | · | |
| EV / FCF (TTM) | -0.65Y avg ≈-1.7 | ≈-1.7 | · | · | |
| Price / Tangible Book | 6.55Y avg ≈2.2 | ≈2.2 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ALXO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -98.3%5Y avg ≈-56.5% | ≈-56.5% | -33.9% | Weak | |
| ROE | -225.0%5Y avg ≈-97.9% | ≈-97.9% | -39.8% | Weak | |
| ROIC | -291.1%5Y avg ≈-120.3% | ≈-120.3% | -63.5% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | ALXO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.15Y avg ≈0.1 | ≈0.1 | · | · | |
| Current Ratio (MRQ) | 9.75Y avg ≈9.6 | ≈9.6 | 8.8 | In line | |
| Quick Ratio | 1.85Y avg ≈9.4 | ≈9.4 | 8.6 | In line | |
| Long-Term Debt / Equity (MRQ) | 0.15Y avg ≈0.1 | ≈0.1 | · | · | |
| Interest Coverage | -64.95Y avg ≈-85.4 | ≈-85.4 | -165.2 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
3.0%
Next Report
Nov 05, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 10, 2026 | $-0.12 | $-0.15 | 17.9% |
| March 31, 2026 | $-0.15 | $-0.20 | 26.2% | |
| Dec. 31, 2025 | $-0.37 | $-0.37 | -0.08% | |
| Sept. 30, 2025 | $-0.41 | $-0.37 | -9.6% | |
| June 30, 2025 | $-0.43 | $-0.46 | 6.3% | |
| March 31, 2025 | $-0.58 | $-0.47 | -22.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | $0 | $0 | $1M | $5M | |
| R&D Expense | $77M | $116M | $142M | $98M | $60M | $29M | $16M | |
| SG&A Expense | $24M | $26M | $28M | $29M | $23M | $15M | $3M | |
| Operating Expenses | $104M | $142M | $170M | $127M | $84M | $45M | $24M | |
| Operating Income | $-104M | $-142M | $-170M | $-127M | $-84M | $-44M | $-19M | |
| Interest Expense | $2M | $2M | $2M | $238.0K | $13.0K | · | · | |
| Interest Income | $4M | $9M | $11M | $4M | $91.0K | · | · | |
| Other Non-op | $-36.0K | $-20.0K | $389.0K | $-22.0K | $-7.0K | $-1M | $-5.0K | |
| Pretax Income | $-102M | $-135M | $-161M | $-123M | $-83M | $-45M | $-19M | |
| Income Tax | $0 | $0 | $0 | $64.0K | $-21.0K | $241.0K | $34.0K | |
| Net Income | $-102M | $-135M | $-161M | $-123M | $-83M | $-46M | $-19M | |
| EPS (Basic) | $-1.90 | $-2.58 | $-3.74 | $-3.03 | $-2.07 | $-2.76 | · | |
| EPS (Diluted) | $-1.90 | $-2.58 | $-3.74 | $-3.03 | $-2.07 | $-2.76 | · | |
| Shares (Basic) | 53,658,399 | 52,174,904 | 42,987,767 | 40,699,612 | 40,308,050 | 18,485,343 | 3,076,461 | |
| Shares (Diluted) | 53,658,399 | 52,174,904 | 42,987,767 | 40,699,612 | 40,308,050 | 18,485,343 | · | |
| EBITDA | $-103M | $-142M | $-169M | $-127M | $-84M | $-43M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16M | $18M | $22M | $49M | $364M | $434M | $9M | |
| Short-term Investments | $28M | $110M | $160M | $217M | · | · | · | |
| Prepaid Expense | $6M | $7M | $6M | $5M | $3M | $2M | $256.0K | |
| Other Current Assets | $20.0K | $27.0K | $439.0K | · | · | · | · | |
| Current Assets | $51M | $134M | $189M | $271M | $367M | $436M | $10M | |
| PP&E (Net) | $1M | $3M | $4M | $4M | $897.0K | $52.0K | $860.0K | |
| PP&E (Gross) | $3M | $5M | $5M | $4M | $960.0K | $77.0K | $2M | |
| Accum. Depreciation | $2M | $2M | $1M | $403.0K | $63.0K | $25.0K | $1M | |
| Other Non-current Assets | $4M | $7M | $15M | $15M | $12M | $10.0K | $7.0K | |
| Total Assets | $59M | $148M | $243M | $306M | $380M | $436M | $11M | |
| Accounts Payable | $5M | $4M | $9M | $8M | $4M | $4.0K | $4M | |
| Current Liabilities | $25M | $18M | $36M | $28M | $15M | $6M | $5M | |
| Capital Leases | $3M | $3M | $4M | $5M | $2M | · | · | |
| Other Non-current Liabilities | $4M | $6M | $7M | $5M | $2M | $5.0K | $547.0K | |
| Total Liabilities | $33M | $34M | $53M | $43M | $17M | $6M | $11M | |
| Long-term Debt | $10M | $11M | $11M | $11M | · | · | · | |
| Total Debt | $10M | $10M | $10M | $9M | · | · | · | |
| Common Stock | $54.0K | $53.0K | $50.0K | $41.0K | $41.0K | $40.0K | $3.0K | |
| Retained Earnings | $-723M | $-621M | $-486M | $-325M | $-202M | $-119M | $-73M | |
| AOCI | $28.0K | $275.0K | $256.0K | $-845.0K | · | · | · | |
| Stockholders' Equity | $26M | $114M | $190M | $263M | $363M | $430M | $-71M | |
| Liabilities + Equity | $59M | $148M | $243M | $306M | $380M | $436M | $11M | |
| Shares Outstanding | 54,388,022 | 53,052,912 | 49,951,989 | 40,861,386 | 40,587,067 | 39,844,522 | 3,166,946 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $706.0K | $872.0K | $836.0K | $342.0K | $51.0K | $202.0K | $429.0K | |
| Stock-based Comp | $13M | $27M | $26M | $24M | $14M | $5M | $297.0K | |
| Deferred Tax | $0 | $0 | $0 | · | · | · | · | |
| Other Non-cash | $4M | $-15M | $3M | $10M | $1M | $2M | · | |
| Operating Cash Flow | $-84M | $-122M | $-130M | $-89M | $-68M | $-38M | $-14M | |
| CapEx | $212.0K | $447.0K | $1M | $1M | $666.0K | $31.0K | $353.0K | |
| Investing Cash Flow | $83M | $86M | $45M | $-235M | $-5M | $610.0K | $-353.0K | |
| Stock Issued | $2M | $30M | · | · | · | $368M | · | |
| Net Stock Activity | $2M | $30M | · | · | · | $368M | · | |
| Financing Cash Flow | $362.0K | $31M | $59M | $10M | $2M | $463M | $15M | |
| Free Cash Flow | $-84M | $-122M | $-132M | $-91M | $-69M | $-38M | · | |
| Levered FCF | $-86M | · | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | -3694.0% | · | |
| Net Margin | · | · | · | · | · | -3869.7% | · | |
| Pretax Margin | · | · | · | · | · | -3849.3% | · | |
| EBITDA Margin | · | · | · | · | · | -3676.9% | · | |
| ROA | -98.3% | -69.1% | -58.6% | -36.0% | -20.4% | -20.5% | · | |
| ROE | -225.0% | -107.7% | -89.7% | -44.9% | -22.3% | -13.4% | · | |
| ROIC | -291.1% | · | · | -46.7% | -23.0% | -10.2% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.1 | 7.3 | 5.2 | 9.6 | 24.0 | 70.3 | · | |
| Quick Ratio | 1.8 | 6.9 | 5.1 | 9.4 | 23.8 | 70.0 | · | |
| Debt / Equity | 0.4 | 0.1 | 0.1 | 0.0 | · | · | · | |
| LT Debt / Equity | 0.2 | 0.1 | 0.1 | 0.0 | · | · | · | |
| Interest Coverage | -64.9 | -82.4 | -108.8 | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | · | 0.0 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.48 | $2.14 | $3.80 | $6.45 | $8.94 | $10.79 | · | |
| Revenue / Share | · | · | · | $0.00 | · | · | · | |
| Cash Flow / Share | $-1.57 | $-2.34 | $-3.03 | $-2.19 | · | · | · | |
| Cash / Share | $0.30 | $0.33 | $0.45 | $1.19 | $8.96 | $10.90 | · | |
| EPS (TTM) | $-1.90 | $-2.58 | $-3.74 | $-3.03 | $-2.07 | $-2.76 | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $4M | $4M | $4M | $0 | $0 | $1M | · | |
| Net Income TTM | $-102M | $-135M | $-161M | $-123M | $-83M | $-46M | · | |
| Market Cap | $61M | $89M | $744M | $461M | $872M | $3.43B | · | |
| Enterprise Value | $26M | $-29M | $571M | $204M | · | · | · | |
| P/E | -0.6 | -0.6 | -4.0 | -3.7 | -10.4 | -31.2 | · | |
| P/S | 16.5 | 23.7 | 199.2 | · | · | 2905.8 | · | |
| P/B | 2.4 | 0.8 | 3.9 | 1.7 | 2.4 | 8.0 | · | |
| P / Tangible Book | 2.4 | 0.8 | 3.9 | 1.7 | 2.4 | 8.0 | · | |
| P / Cash Flow | -0.7 | -0.7 | -5.7 | -5.2 | -12.8 | -89.7 | · | |
| P / FCF | -0.7 | -0.7 | -5.7 | -5.1 | -12.7 | -89.6 | · | |
| EV / EBITDA | -0.3 | 0.2 | -3.4 | -1.6 | · | · | · | |
| EV / FCF | -0.3 | 0.2 | -4.3 | -2.2 | · | · | · | |
| EV / Revenue | 7.1 | -7.8 | 152.9 | · | · | · | · | |
| Earnings Yield | -168.1% | -154.5% | -25.1% | -26.9% | -9.6% | -3.2% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $13M | $14M | $18M | $17M | $18M | $24M | $24M | $26M | $35M | $32M | $46M | $29M | $25M | $29M | $27M | $17M | |
| SG&A Expense | $5M | $5M | $5M | $5M | $5M | $8M | $7M | $6M | $7M | $6M | $8M | $7M | $7M | $7M | $7M | $8M | |
| Operating Expenses | $18M | $19M | $23M | $23M | $27M | $32M | $31M | $33M | $42M | $38M | $53M | $37M | $32M | $37M | $34M | $25M | |
| Operating Income | $-18M | $-19M | $-23M | $-23M | $-27M | $-32M | $-31M | $-33M | $-42M | $-38M | $-53M | $-37M | $-32M | $-37M | $-34M | $-25M | |
| Interest Expense | $285.0K | $331.0K | $383.0K | $408.0K | $405.0K | $406.0K | $427.0K | $446.0K | $429.0K | $427.0K | $391.0K | $372.0K | $387.0K | $2.0K | $2.0K | $3.0K | |
| Interest Income | $2M | $1M | $573.0K | $802.0K | $1M | $1M | $2M | $2M | $3M | $3M | $3M | $3M | $2M | $1M | $876.0K | $225.0K | |
| Other Non-op | $-257.0K | $188.0K | $-17.0K | $-6.0K | $-2.0K | $-11.0K | $-1.0K | $3.0K | $-8.0K | $-14.0K | $-1.0K | $324.0K | $95.0K | $-7.0K | $-5.0K | $-8.0K | |
| Net Income | $-18M | $-18M | $-23M | $-22M | $-26M | $-31M | $-29M | $-31M | $-39M | $-36M | $-51M | $-34M | $-30M | $-35M | $-33M | $-25M | |
| EPS (Basic) | $-0.13 | $-0.17 | $-0.42 | $-0.41 | $-0.49 | $-0.58 | $-0.53 | $-0.58 | $-0.76 | $-0.71 | $-1.24 | $-0.84 | $-0.74 | $-0.87 | $-0.81 | $-0.60 | |
| EPS (Diluted) | $-0.13 | $-0.17 | $-0.42 | $-0.41 | $-0.49 | $-0.58 | $-0.53 | $-0.58 | $-0.76 | $-0.71 | $-1.24 | $-0.84 | $-0.74 | $-0.87 | $-0.81 | $-0.60 | |
| Shares (Basic) | 135,639,684 | 104,573,657 | · | 53,577,066 | 53,445,631 | 53,359,338 | · | 52,693,878 | 51,831,157 | 50,120,758 | 41,147,938 | 40,875,457 | 40,862,513 | 40,747,026 | 40,687,751 | 40,616,302 | |
| Shares (Diluted) | 135,639,684 | 104,573,657 | · | 53,577,066 | 53,445,631 | 53,359,338 | · | 52,693,878 | 51,831,157 | 50,120,758 | 41,147,938 | 40,875,457 | 40,862,513 | 40,747,026 | 40,687,751 | 40,616,302 | |
| EBITDA | $-18M | $-19M | · | $-23M | $-27M | $-32M | · | $-33M | $-42M | $-38M | $-53M | $-37M | $-32M | $-37M | $-34M | · |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $23M | $32M | $16M | $23M | $19M | $21M | $18M | $16M | $16M | $14M | $20M | $38M | $63M | $49M | $66M | $159M | |
| Short-term Investments | $116M | $108M | $28M | $37M | $60M | $77M | $110M | $132M | $141M | $143M | $170M | $175M | $165M | $236M | $247M | $158M | |
| Prepaid Expense | $5M | $5M | $6M | $6M | $6M | $5M | $7M | $7M | $12M | $10M | $9M | $7M | $5M | $6M | $3M | $5M | |
| Other Current Assets | $542.0K | $25.0K | $20.0K | · | $4.0K | · | $27.0K | $1M | $315.0K | · | · | · | · | · | · | · | |
| Current Assets | $143M | $146M | $51M | $67M | $85M | $103M | $134M | $156M | $169M | $168M | $199M | $220M | $233M | $291M | $317M | $322M | |
| PP&E (Net) | $166.0K | $1M | $1M | $1M | $1M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $2M | $2M | $1M | |
| PP&E (Gross) | $1M | $3M | $3M | $3M | $3M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $3M | $2M | $1M | |
| Accum. Depreciation | $938.0K | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $823.0K | $616.0K | $300.0K | $205.0K | $121.0K | |
| Other Non-current Assets | $2M | $3M | $4M | $9M | $4M | $7M | $7M | $13M | $13M | $14M | $11M | $11M | $13M | $16M | $17M | $16M | |
| Total Assets | $161M | $178M | $59M | $83M | $95M | $121M | $148M | $186M | $215M | $213M | $220M | $246M | $278M | $318M | $346M | $364M | |
| Accounts Payable | $3M | $4M | $5M | $7M | $5M | $4M | $4M | $8M | $8M | $6M | $13M | $4M | $10M | $6M | $9M | $5M | |
| Current Liabilities | $15M | $20M | $25M | $28M | $19M | $19M | $18M | $32M | $38M | $32M | $35M | $18M | $22M | $25M | $24M | $15M | |
| Capital Leases | $0 | $2M | $3M | $3M | $3M | $3M | · | $4M | $4M | $4M | $5M | $5M | $5M | $5M | $6M | $5M | |
| Other Non-current Liabilities | $152.0K | $4M | $4M | $4M | $5M | $6M | $6M | $7M | $7M | $7M | $7M | $6M | $6M | $5M | $6M | $5M | |
| Total Liabilities | $25M | $27M | $33M | $38M | $31M | $33M | $34M | $49M | $55M | $48M | $51M | $33M | $38M | $31M | $30M | $20M | |
| Long-term Debt | $10M | $9M | $10M | $11M | $11M | $11M | $10M | $11M | $11M | $11M | $11M | $11M | $11M | · | · | · | |
| Total Debt | $10M | $9M | · | $10M | $10M | $10M | · | $10M | $10M | $10M | $10M | $10M | $9M | · | · | · | |
| Common Stock | $138.0K | $135.0K | $54.0K | $54.0K | $54.0K | $53.0K | $53.0K | $53.0K | $52.0K | $50.0K | $41.0K | $41.0K | $41.0K | $41.0K | $41.0K | $41.0K | |
| Retained Earnings | $-759M | $-741M | $-723M | $-700M | $-678M | $-652M | $-621M | $-592M | $-561M | $-522M | $-441M | $-390M | $-356M | $-295M | $-259M | $-227M | |
| AOCI | $-224.0K | $-245.0K | $28.0K | $43.0K | $36.0K | $118.0K | $275.0K | $563.0K | $-73.0K | $28.0K | $-226.0K | $-312.0K | $-88.0K | $-2M | $-1M | $-606.0K | |
| Stockholders' Equity | $136M | $151M | $26M | $45M | $64M | $88M | $114M | $137M | $159M | $164M | $169M | $213M | $240M | $287M | $316M | $344M | |
| Liabilities + Equity | $161M | $178M | $59M | $83M | $95M | $121M | $148M | $186M | $215M | $213M | $220M | $246M | $278M | $318M | $346M | $364M | |
| Shares Outstanding | 138,216,247 | 134,540,741 | 54,388,022 | 53,577,566 | 53,506,777 | 53,384,145 | 53,052,912 | 52,743,104 | 52,452,749 | 50,277,193 | 41,151,819 | 40,992,179 | 40,863,049 | 40,748,290 | 40,745,252 | 40,656,632 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $86.0K | $150.0K | $151.0K | $153.0K | $191.0K | $211.0K | $214.0K | $224.0K | $220.0K | $214.0K | $209.0K | $207.0K | $213.0K | $95.0K | $84.0K | $58.0K | |
| Stock-based Comp | $3M | $3M | $3M | $3M | $2M | $5M | $6M | $7M | $7M | $7M | $7M | $6M | $6M | $6M | $6M | $6M | |
| Other Non-cash | · | $-3M | · | · | · | $664.0K | · | · | · | $-10M | · | · | $-4M | · | · | · | |
| Operating Cash Flow | $-16M | $-19M | $-19M | $-17M | $-23M | $-25M | $-32M | $-25M | $-27M | $-38M | $-31M | $-32M | $-28M | $-31M | $-17M | $-21M | |
| CapEx | $17.0K | $50.0K | $49.0K | $56.0K | $47.0K | $60.0K | $60.0K | $149.0K | $90.0K | $148.0K | $-1M | $2M | $690.0K | $192.0K | $257.0K | $589.0K | |
| Investing Cash Flow | $7M | $-105M | $11M | $21M | $22M | $28M | $33M | $26M | $907.0K | $26M | $13M | $6M | $42M | $14M | $-76M | $-184M | |
| Stock Issued | $0 | $11.0K | $1M | $0 | $0 | $372.0K | $359.0K | $75.0K | $26M | $3M | · | · | · | · | · | · | |
| Net Stock Activity | · | $11.0K | · | · | · | $372.0K | · | · | · | $3M | · | · | · | · | · | · | |
| Financing Cash Flow | $137.0K | $140M | $678.0K | $-159.0K | $-222.0K | $65.0K | $328.0K | $251.0K | $27M | $3M | $-111.0K | $343.0K | $-107.0K | $-136.0K | $422.0K | $80.0K | |
| Free Cash Flow | · | $-19M | · | · | · | $-25M | · | · | · | $-38M | · | · | $-29M | · | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -14.0% | -12.0% | · | -16.5% | -16.7% | -18.4% | · | -15.1% | -17.1% | -14.5% | -19.0% | -11.5% | -9.4% | -9.8% | -8.6% | · | |
| ROE | -17.9% | -15.0% | · | -24.4% | -23.2% | -24.4% | · | -20.1% | -21.2% | -17.6% | -22.4% | -12.9% | -10.3% | -10.5% | -9.1% | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.7 | 7.2 | · | 2.4 | 4.5 | 5.5 | · | 4.8 | 4.4 | 5.2 | 5.7 | 12.5 | 10.6 | 11.5 | 13.2 | · | |
| Quick Ratio | 9.4 | 7.0 | · | 2.2 | 4.2 | 5.2 | · | 4.6 | 4.1 | 4.9 | 5.4 | 12.1 | 10.4 | 11.3 | 13.1 | · | |
| Debt / Equity | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | · | · | · | |
| LT Debt / Equity | 0.1 | 0.0 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | · | · | · | |
| Interest Coverage | -63.3 | -57.3 | · | -55.2 | -65.8 | -78.4 | · | -73.0 | -96.8 | -88.4 | -136.3 | -98.9 | -83.2 | · | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.99 | $1.12 | · | $0.84 | $1.20 | $1.65 | · | $2.59 | $3.04 | $3.27 | $4.10 | $5.19 | $5.88 | $7.04 | $7.76 | · | |
| Cash Flow / Share | · | $-0.18 | · | · | · | $-0.46 | · | · | · | $-0.76 | · | · | $-0.68 | · | · | · | |
| Cash / Share | $0.16 | $0.24 | · | $0.44 | $0.36 | $0.39 | · | $0.31 | $0.30 | $0.28 | $0.48 | $0.93 | $1.55 | $1.20 | $1.63 | · | |
| EPS (TTM) | $-1.13 | $-1.49 | · | $-2.01 | $-2.18 | $-2.45 | · | $-2.97 | $-3.63 | $-3.71 | $-3.57 | $-3.20 | $-3.17 | $-2.98 | $-2.72 | $-2.31 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1M | $1M | · | $1M | $1M | $1M | · | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Net Income TTM | $-81M | $-89M | · | $-108M | $-117M | $-130M | · | $-151M | $-171M | $-166M | $-146M | $-130M | $-129M | $-121M | $-110M | $-94M | |
| Market Cap | $286M | $270M | · | $98M | $22M | $33M | · | $96M | $316M | $561M | $198M | $308M | $185M | $390M | $330M | · | |
| Enterprise Value | $158M | $138M | · | $48M | $-47M | $-55M | · | $-43M | $169M | $413M | $17M | $105M | $-34M | · | · | · | |
| P/E | -1.8 | -1.3 | · | -0.9 | -0.2 | -0.3 | · | -0.6 | -1.7 | -3.0 | -1.3 | -2.3 | -1.4 | -3.2 | -3.0 | -7.3 | |
| P/S | 242.1 | 228.2 | · | 83.0 | 18.8 | 28.1 | · | 81.2 | 267.6 | 474.3 | 167.1 | 260.4 | 156.3 | 329.9 | 278.9 | · | |
| P/B | 2.1 | 1.8 | · | 2.2 | 0.3 | 0.4 | · | 0.7 | 2.0 | 3.4 | 1.2 | 1.4 | 0.8 | 1.4 | 1.0 | · | |
| P / Tangible Book | 2.1 | 1.8 | · | 2.2 | 0.3 | 0.4 | · | 0.7 | 2.0 | 3.4 | 1.2 | 1.4 | 0.8 | 1.4 | 1.0 | 2.0 | |
| P / Cash Flow | · | -14.5 | · | · | · | -1.3 | · | · | · | -14.8 | · | · | -6.6 | · | · | · | |
| EV / Revenue | 133.3 | 116.7 | · | 40.2 | -39.8 | -46.2 | · | -36.2 | 143.3 | 349.3 | 14.5 | 88.4 | -28.6 | · | · | · | |
| Earnings Yield | -54.6% | -74.3% | · | -109.8% | -525.3% | -393.3% | · | -163.2% | -60.2% | -33.3% | -74.4% | -42.6% | -70.1% | -31.1% | -33.6% | -13.7% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | · | · | · | $0 | $0 |
| Net Income | $-102M | $-135M | $-161M | $-123M | $-83M |
| Diluted EPS | $-1.90 | $-2.58 | $-3.74 | $-3.03 | $-2.07 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.1 | 0.1 | 0.0 | · |
| Current Ratio | 2.1 | 7.3 | 5.2 | 9.6 | 24.0 |
| Quick Ratio | 1.8 | 6.9 | 5.1 | 9.4 | 23.8 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-84M | $-122M | $-132M | $-91M | $-69M |
Institutional owners (13F) 100 filers · $216.9M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
100
Value held
$216.9M
New positions
38
Exited positions
11
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 38 (+14 vs prior Q) | 11 (+1 vs prior Q) | 28 (+10 vs prior Q) | 11 (-2 vs prior Q) | +16.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| RA CAPITAL MANAGEMENT, L.P. | $26,934,527 | 13,011,849 | 12.42% | Shares |
| venBio Partners LLC | $26,671,201 | 12,884,638 | 12.29% | Shares |
| BlackRock, Inc. | $15,317,028 | 7,399,530 | 7.06% | Shares |
| Redmile Group, LLC | $15,302,483 | 7,392,504 | 7.05% | Shares |
| Blackstone Inc. | $13,648,634 | 6,593,543 | 6.29% | Shares |
| Driehaus Capital Management LLC | $12,472,247 | 6,025,240 | 5.75% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $11,891,647 | 5,744,757 | 5.48% | Shares |
| TCG Crossover Management, LLC | $11,706,858 | 5,655,487 | 5.40% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $10,295,013 | 4,973,436 | 4.75% | Shares |
| Vivo Capital, LLC | $6,592,356 | 3,184,713 | 3.04% | Shares |
| MARSHALL WACE, LLP | $6,357,997 | 3,071,496 | 2.93% | Shares |
| 5AM Venture Management, LLC | $6,328,663 | 3,057,325 | 2.92% | Shares |
| Almitas Capital LLC | $6,082,552 | 2,938,431 | 2.80% | Shares |
| ORBIMED ADVISORS LLC | $5,933,150 | 2,866,256 | 2.74% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $5,771,224 | 2,787,809 | 2.66% | Shares |
| TWO SIGMA INVESTMENTS, LP | $4,508,824 | 2,178,176 | 2.08% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,195,240 | 1,543,594 | 1.47% | Shares |
| STATE STREET CORP | $3,102,733 | 1,498,905 | 1.43% | Shares |
| JPMORGAN CHASE & CO | $2,298,401 | 1,044,728 | 1.06% | Shares |
| NORTHERN TRUST CORP | $1,936,835 | 935,669 | 0.89% | Shares |
| VANGUARD GROUP INC | $1,842,962 | 1,630,940 | 0.85% | Shares |
| Ensign Peak Advisors, Inc | $1,677,315 | 810,297 | 0.77% | Shares |
| Nantahala Capital Management, LLC | $1,552,500 | 750,000 | 0.72% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,550,904 | 749,229 | 0.71% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,539,026 | 743,491 | 0.71% | Shares |
| GOLDMAN SACHS GROUP INC | $1,536,625 | 742,331 | 0.71% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,249,860 | 603,797 | 0.58% | Shares |
| ADAR1 Capital Management, LLC | $1,104,676 | 533,660 | 0.51% | Shares |
| UBS Group AG | $958,292 | 462,943 | 0.44% | Shares |
| TWO SIGMA ADVISERS, LP | $802,752 | 710,400 | 0.37% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $499,104 | 241,113 | 0.23% | Shares |
| Bank of New York Mellon Corp | $493,585 | 238,447 | 0.23% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $467,969 | 226,072 | 0.22% | Shares |
| Atom Investors LP | $454,121 | 219,382 | 0.21% | Shares |
| IEQ CAPITAL, LLC | $363,041 | 175,382 | 0.17% | Shares |
| MORGAN STANLEY | $326,798 | 157,873 | 0.15% | Shares |
| Invesco Ltd. | $310,341 | 149,923 | 0.14% | Shares |
| Nuveen, LLC | $297,345 | 143,645 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $254,935 | 123,157 | 0.12% | Shares |
| RHUMBLINE ADVISERS | $223,350 | 107,902 | 0.10% | Shares |
| DEUTSCHE BANK AG\ | $222,376 | 107,428 | 0.10% | Shares |
| WELLS FARGO & COMPANY/MN | $206,847 | 99,926 | 0.10% | Shares |
| Verdad Advisers, LP | $170,154 | 82,200 | 0.08% | Shares |
| BANK OF AMERICA CORP /DE/ | $157,386 | 76,032 | 0.07% | Shares |
| Graham Capital Management, L.P. | $154,879 | 74,821 | 0.07% | Shares |
| XTX Topco Ltd | $144,190 | 69,657 | 0.07% | Shares |
| MetLife Investment Management, LLC | $134,465 | 64,959 | 0.06% | Shares |
| CITIGROUP INC | $104,815 | 50,635 | 0.05% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $102,842 | 49,682 | 0.05% | Shares |
| Squarepoint Ops LLC | $97,019 | 46,869 | 0.04% | Shares |
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| LSV Associates, LLC, Lightstone Ventures, L.P., Lightstone Ventures (A), L.P., LSV Associates II, LLC, Lightstone Ventures II, L.P., Lightstone Ventures II (A), L.P., Michael A Carusi, Jean George, Henry A. Plain Jr | May 27, 2026 | 2.20% | Amendment | · | SEC |
| venBio Global Strategic Fund, L.P., venBio Global Strategic Fund II L.P., venBio Global Strategic GP, L.P., venBio Global Strategic GP II, L.P., venBio Global Strategic GP, Ltd., venBio Global Strategic GP II, Ltd., Adelman Robert J, GOODMAN COREY S ×2 filings | Feb. 4, 2026 | 10.00% | Amendment | · | SEC |
| Lightstone Ventures, L.P., Lightstone Ventures (A), L.P., LSV Associates, LLC, Lightstone Ventures II, L.P., Lightstone Ventures II (A), L.P., LSV Associates II, LLC, Michael A. Carusi, Jean M. George, Henry A. Plain, Jr. ×3 filings | Feb. 14, 2024 | · | Initial filing | · | SEC |
| Logos Global Management LP, Logos Global Management GP LLC, Arsani William, Graham Walmsley, Logos Opportunities Fund I LP, Logos Opportunities GP LLC, Logos GP LLC ×2 filings | June 15, 2021 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 19 insiders · 10 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jason Lettmann | CHIEF EXECUTIVE OFFICER | Aug. 17, 2026 S | 294,379 | 0 | 2 | $-31,019 |
| Harish Shantharam | Chief Financial Officer | Jan. 26, 2026 A | 75,000 | 0 | 0 | $0 |
| Peter S Garcia | CHIEF FINANCIAL OFFICER | Aug. 14, 2024 F | 121,516 | 0 | 0 | $0 |
| Jaume Pons | PRESIDENT & CSO | Feb. 19, 2025 S | 579,388 | 0 | 0 | $0 |
| Shelly Pinto | SVP, FINANCE AND CAO | Aug. 17, 2026 S | 87,828 | 0 | 5 | $-11,570 |
| Jeff E. Knight | Chief Dev & Operating Officer | April 16, 2026 A | · | 0 | 0 | $0 |
| Barbara Klencke | Chief Medical Officer | April 16, 2026 A | · | 0 | 0 | $0 |
| Sophia Randolph | CHIEF MEDICAL OFFICER | Aug. 14, 2024 S | 325,711 | 0 | 0 | $0 |
| Nathan Caffo | Chief Business Officer | July 21, 2020 C | 11,254 | 0 | 0 | $0 |
| Steffen Pietzke | VP Fin & Chief Acct Officer | July 21, 2020 P | 3,000 | 0 | 0 | $0 |
| Daniel J. Curran | Director | Jan. 20, 2026 A | · | 0 | 0 | $0 |
| Alan B. Sandler | Director | Jan. 20, 2026 A | · | 0 | 0 | $0 |
| Rekha Hemrajani | Director | Jan. 20, 2026 A | 33,000 | 0 | 0 | $0 |
| Chris H Takimoto | Director | Jan. 20, 2026 A | · | 0 | 0 | $0 |
| Scott J. Garland | Director | Jan. 20, 2026 A | · | 0 | 0 | $0 |
| Itziar Canamasas | Director | June 20, 2023 A | · | 0 | 0 | $0 |
| Jack Nielsen | Director | June 20, 2023 A | · | 0 | 0 | $0 |
| Graham Walmsley | Director | June 11, 2021 A | 995,000 | 0 | 0 | $0 |
| Corey S Goodman | · | Feb. 2, 2026 P | 8,453,038 | 1 | 0 | $4,999,999 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 12 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.37% | 61,776 SH | Oct. 1, 2026 | Daily |
| IWC · iShares Trust | 0.05% | 366,440 SH | Sept. 11, 2026 | Daily |
| IWO · iShares Trust | 0.01% | 1,013,254 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 623,766 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 116,302 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 51,536 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 2,551,278 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.00% | 35,778 SH | Sept. 29, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 1,343 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 1,226,065 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,642,854 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 9,161 SH | Aug. 19, 2026 | Daily |
ALXO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 13 analysts
BUY
Median target
$4.00
+227.9%
3 23.1%
Strong Buy
8 61.5%
Buy
2 15.4%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-09-29Mean target $4.60 +277.0%
← Below all targets
Current price $1.22
Low$4.00
Mean$4.60
High$6.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ALXO | $61M | -0.6 | · | · | -225.0% | · |
| CUE | $29M | -1.1 | 195.8% | -96.9% | -119.3% | · |
| CHRS | $172M | 1.0 | 59.8% | 398.4% | 185.8% | · |
| CNTN | $112M | -2.7 | · | · | -18.0% | · |
| PYXS | $72M | -0.9 | -14.2% | -574.5% | -112.9% | · |
| ORGO | $658M | 34.5 | 17.0% | 6.6% | 13.9% | · |
| DTIL | $100M | -1.2 | -50.1% | -133.4% | -72.4% | · |
| AVXL | · | -16.5 | -36.1% | -991.4% | · | · |
| CMPX | $958M | · | · | · | -45.9% | · |
| VYGR | $232M | -1.9 | -49.5% | -296.5% | -54.4% | · |
| TARA | $286M | -4.0 | · | · | -33.7% | · |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
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Source: SEC 10-Q filed Aug 6, 2026