ALX Oncology Holdings Inc. /zigman2/quotes/219511930/composite ALXO -4.31% 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 -0.68% has soared 61.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.56% has advanced 15.3%.
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