SCHEDULE: Tang Capital Divests Entire ALX Oncology Holdings Stake

Tang Capital Management and its affiliates have reported a complete divestment of their beneficial ownership in ALX Oncology Holdings Inc., now holding 0% of the common stock.

Summary

• Tang Capital Management, LLC, Kevin Tang, Tang Capital Partners, LP, Tang Capital Partners International, LP, Tang Capital Partners III, Inc., and Tang Capital Partners IV, Inc. (collectively, the "Reporting Persons") have filed an Amendment No. 3 to Schedule 13G.
• The filing indicates that as of September 30, 2025, the Reporting Persons beneficially own 0 shares of ALX Oncology Holdings Inc. common stock, representing 0% of the class.
• This amendment signifies a complete divestment of their previous holdings in ALX Oncology Holdings Inc.

Sentiment

Score: 3

Explanation: The complete divestment by a significant institutional investor is generally viewed as a negative indicator for the company's stock, reflecting a lack of confidence or a strategic exit.

Negatives

• A significant institutional investor, Tang Capital Management and its affiliates, has fully divested its position in ALX Oncology Holdings Inc., reducing beneficial ownership to 0%.

Risks

• The complete divestment by a major institutional investor like Tang Capital could signal a lack of confidence in ALX Oncology Holdings Inc.'s future prospects, potentially leading to negative market sentiment and downward pressure on the stock price.

Future Outlook

NA

Industry Context

This filing reflects a change in institutional investor sentiment or strategy regarding ALX Oncology Holdings Inc., rather than a direct operational or financial update from the company itself. Such divestments by significant holders can influence broader market perception within the biotechnology or oncology sector.

Stakeholder Impact

• Shareholders: May experience negative sentiment and potential downward pressure on stock price due to the complete divestment by a major institutional investor.

Key Dates

Recommendation

The complete divestment by Tang Capital Management and its affiliates, a sophisticated institutional investor, signals a strong lack of confidence or a strategic exit from ALX Oncology Holdings Inc. This action by a major holder warrants a cautious or negative outlook, suggesting that current and potential investors should consider selling their positions or avoiding new investments.

Keywords

ALX Oncology Holdings Inc., Tang Capital Management, Schedule 13G, Beneficial Ownership, Divestment, Institutional Investor, Common Stock, SEC Filing