ALX Oncology Reports Inducement Grant as permitted by the Nasdaq Listing Rules

SOUTH SAN FRANCISCO, Calif., Jan. 22, 2025 (GLOBE NEWSWIRE) -- ALX Oncology Holdings, Inc. (“ALX Oncology” or the “Company”), (Nasdaq: ALXO), a clinical-stage biotechnology company advancing therapies that boost the immune system to treat cancer and extend patients’ lives, today announced that effective January 21, 2025, the Compensation Committee of the Board of Directors of ALX Oncology granted an inducement stock option to purchase a total of 600,000 shares of ALX Oncology’s common stock to Harish Shantharam, the Company’s Chief Financial Officer, in connection with the commencement of his employment. Mr. Shantharam’s inducement stock option is subject to the terms of the ALX Oncology Holdings Inc. 2025 Inducement Equity Incentive Plan and related forms of agreements, and were granted as inducements material to Mr. Shantharam to enter into employment with ALX Oncology in accordance with Nasdaq Listing Rule 5635(c)(4).