SOUTH SAN FRANCISCO, Calif., Jan. 22, 2025 (GLOBE NEWSWIRE) — ALX Oncology Holdings, Inc. (ALX Oncology or the Company), (Nasdaq: ALXO), a clinical-stage biotechnology company developing therapies that boost the immune system to treat cancer and extend the lives of patients, today announced that effective on January 21, 2025, the Compensation Committee of the Board of Directors of ALX Oncology granted an inducement stock option to purchase a total of 600,000 shares of ALX Oncology’s common stock to Harish Shantharam, the Chief Financial Officer of the Company, in connection with the commencement of his work. The stock option in the inducement of Mr. Shantharam is subject to the terms of ALX Oncology Holdings Inc. 2025 Inducement Equity Incentive Plan and related forms of agreements, and provided as inducement materials to Mr. Shantharam to work for ALX Oncology in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement stock option has an exercise price of $1.65 per share, which is equal to the closing price of one share of ALX Oncology common stock on the date of grant, and vests as follows: 25% of the shares under that inducement stock option. will vest on the one-year anniversary of January 21, 2025 and an additional forty-eight of the shares subject to such inducement stock option will be granted monthly. thereafter, subject to the employee’s continued service.

About ALX Oncology
ALX Oncology (Nasdaq: ALXO) is a clinical-stage biotechnology company developing therapies that boost the immune system to treat cancer and extend patients’ lives. ALX Oncology’s lead therapeutic candidate, evorpacept, shows potential to serve as a cornerstone therapy upon which the future of immuno-oncology can be built. Evorpacept is currently being evaluated in several ongoing clinical trials in a wide range of cancer indications. More information is available at www.alxoncology.com and on LinkedIn @ALX Oncology.

Company Contact:
Allison Dillon, Chief Business Officer, ALX Oncology
[email protected]

Media Contact:
Audra Fries, Sam Brown, Inc.
[email protected]
(917) 519-9577

Source: ALX Oncology