SCHEDULE: venBio Funds Increase ALX Oncology Stake to 10% After Offering

venBio Global Strategic Fund II L.P. acquired over 3 million shares in ALX Oncology Holdings Inc.'s recent follow-on offering, increasing key investors' beneficial ownership to 10%.

Summary

• venBio Global Strategic Fund II L.P. (Fund II) purchased 3,184,713 shares of ALX Oncology Holdings Inc. Common Stock.
• The shares were acquired at a price of $1.57 per share in a registered underwritten follow-on offering by the Issuer, which closed on February 2, 2026.
• The aggregate purchase price for Fund II's acquisition was approximately $5,000,000, funded by its working capital.
• Corey S. Goodman, a director, now beneficially owns 13,163,549 shares, representing 10% of the class, including 111,541 shares from options exercisable within 60 days.
• Robert J. Adelman, also a director, beneficially owns 12,984,044 shares, representing 9.9% of the class.
• The beneficial ownership percentages are calculated based on 54,218,001 shares outstanding as of October 31, 2025, plus 76,979,112 shares issued in the February 2026 Offering, and additional options for Mr. Goodman's calculation.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as moderately positive. While the follow-on offering causes dilution, it successfully raised capital for the company, and the increased stake by a significant institutional investor like venBio suggests a vote of confidence in ALX Oncology's prospects.

Positives

• A significant institutional investor, venBio Global Strategic Fund II L.P., increased its stake in ALX Oncology, potentially signaling confidence in the company's future.
• ALX Oncology successfully completed a registered underwritten follow-on offering, raising capital for its operations.

Negatives

• The issuance of 76,979,112 new shares in the February 2026 Offering resulted in dilution for existing shareholders.

Future Outlook

The filing indicates future vesting of 40,400 stock options awarded to director Corey Goodman, which will vest in 12 monthly installments beginning February 20, 2026.

Management Comments

• Corey Goodman, in his capacity as a director of the Issuer, was awarded 40,400 stock options on January 20, 2026, which will vest monthly starting February 20, 2026.
• Mr. Goodman's beneficial ownership includes shares held directly, through a trust, through a corporation, and options exercisable within 60 days.
• Mr. Adelman's beneficial ownership includes shares held directly and indirectly through venBio entities.

Industry Context

StockSavvy.ai notes that a follow-on offering by a biotechnology company like ALX Oncology is a common method to raise capital, often to fund ongoing research and development, clinical trials, or general corporate purposes. The increased stake by venBio, a life sciences investment firm, suggests continued investor confidence in ALX Oncology's strategic direction and potential, which is a positive signal within the often capital-intensive biotech sector.

Stakeholder Impact

• Existing shareholders experienced dilution due to the issuance of new shares in the follow-on offering.
• The company's capital position is strengthened by the funds raised from the offering, potentially benefiting future operations and strategic initiatives.

Next Steps

• Mr. Goodman's 40,400 stock options will vest in 12 monthly installments beginning February 20, 2026.

Key Dates

Recommendation

The filing indicates a successful capital raise and increased institutional ownership, which are generally positive signals. However, the dilution from the offering and the lack of new operational or clinical data in this specific filing suggest a 'hold' recommendation, awaiting further updates on the company's use of capital and progress in its pipeline.

Keywords

ALX Oncology, venBio, Schedule 13D, Common Stock, Follow-on Offering, Beneficial Ownership, Institutional Investment, Biotechnology, SEC Filing