ALX Oncology's IPO positively impacts the net asset value per HBM share
ALX Oncology (Nasdaq: ALXO), a privately held company in the portfolio of HBM Healthcare Investments, successfully went public. The company placed 8.5million new shares at a price of USD 19.00 per share, raising a total of USD 161.5 million. On the first day of trading last Friday, the share price closed at USD 30.00 (+57.9%).
HBM Healthcare Investments participated with USD 5 million in a private financing round of ALX Oncology in February 2020 and invested a further USD 7.6 million at the IPO. After the IPO, HBM Healthcare Investments holds 0.93 million shares with a total value of USD 27.8 million. The IPO increases the net asset value per HBM-share (NAV) by CHF 1.74 (+0.7%).
ALX Oncology is developing therapies for the treatment of various forms of leukemia and solid tumors that block the CD47 control mechanism that is exploited by cancer cells to evade the immune system. The most advanced candidate, ALX148, is being developed for the treatment of myelodysplastic syndromes (MDS) and acute myeloid leukemia (AML). The Company intends to further develop ALX148 both as a monotherapy and in combination with other treatments for non-Hodgkin's lymphoma and other solid tumor diseases.
For further information, please contact Dr Andreas Wicki on +41 41 710 75 77, or at firstname.lastname@example.org.