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Immuno-oncology biotech ALX Oncology prices upsized IPO at $19, above the range

July 17, 2020

ALX Oncology, a Phase 1 immuno-oncology biotech developing CD47 checkpoint inhibitors, raised $162 million by offering 8.5 million shares at $19, above the range of $15 to $17. The company offered 0.5 million more shares than anticipated. At pricing, the company commands a fully diluted market cap of $730 million.

ALX Oncology plans to list on the Nasdaq under the symbol ALXO. Jefferies, Credit Suisse, Piper Sandler and Cantor Fitzgerald acted as lead managers on the deal.