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July 13, 2020, 8:30 a.m. EDT

ALX Oncology sets IPO terms, to raise up to $136 million

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By Tomi Kilgore

ALX Oncology Holdings Inc. /zigman2/quotes/219511930/composite ALXO -1.62% set terms of its initial public offering, in which the California-based immuno-oncology company looks to raise up to $136 million and be valued at up to $590.1 million. The company is selling 8 million shares in the IPO, which is expected to price between $15 and $17 a share. There will be 34.71 million shares outstanding after the IPO. Jefferies, Credit Suisse, Piper Sandler and Cantor are the lead underwriters. The company recorded a net loss of $7.4 million on related-party revenue of $655,000 over the three months ended March 31, after a loss of $5.1 million on revenue of $1.0 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.17% has soared 61.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.75% has advanced 15.3%.

/zigman2/quotes/219511930/composite
US : U.S.: Nasdaq
$ 15.77
-0.26 -1.62%
Volume: 187,591
Jan. 25, 2022 2:34p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$649.21 million
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 44.09
-1.44 -3.17%
Volume: 87,742
Jan. 25, 2022 2:34p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,377.06
-33.07 -0.75%
Volume: 1.86B
Jan. 25, 2022 2:34p
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