ALX ONCOLOGY HOLDINGS INC Segments Disclosure
(3) SEGMENT REPORTING
The Company manages its operations as a operating segment. The Company’s CODM uses consolidated, single-segment financial information for the purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.
The CODM assesses performance and decides how to allocate resources based on the Company’s consolidated net loss, including key components of research and development costs and general and administrative costs. These measures are used to monitor budget versus actual results and to evaluate the performance of the segment.
The CODM reviews cash, cash equivalents and investments as a measure of segment assets. As of December 31, 2025 and 2024, the Company’s cash, cash equivalents and investments were $48.3 million and $131.3 million, respectively.
The following table presents the significant segment expenses for the years ended December 31, 2025, 2024 and 2023 (in thousands):
|
|
Year Ended |
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|
|
December 31, |
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|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Research and development expenses: |
|
|
|
|
|
|
|
|
|
|||
Clinical and development costs |
|
$ |
44,418 |
|
|
$ |
61,868 |
|
|
$ |
99,362 |
|
Preclinical costs |
|
|
2,105 |
|
|
|
6,717 |
|
|
|
3,682 |
|
Personnel and related costs |
|
|
17,037 |
|
|
|
23,085 |
|
|
|
19,407 |
|
Stock-based compensation expense |
|
|
6,205 |
|
|
|
18,490 |
|
|
|
14,665 |
|
Other research costs |
|
|
7,231 |
|
|
|
6,213 |
|
|
|
4,679 |
|
Total research and development expenses |
|
|
76,996 |
|
|
|
116,373 |
|
|
|
141,795 |
|
General and administrative expenses: |
|
|
|
|
|
|
|
|
|
|||
Personnel and related costs |
|
|
8,672 |
|
|
|
7,619 |
|
|
|
7,100 |
|
Stock-based compensation expense |
|
|
6,374 |
|
|
|
8,603 |
|
|
|
11,608 |
|
Other general and administrative costs |
|
|
8,804 |
|
|
|
9,872 |
|
|
|
9,775 |
|
Total general and administrative expenses |
|
|
23,850 |
|
|
|
26,094 |
|
|
|
28,483 |
|
Impairment charge: |
|
|
|
|
|
|
|
|
|
|||
Impairment of long-lived assets |
|
|
3,175 |
|
|
|
— |
|
|
|
— |
|
Total impairment charge |
|
|
3,175 |
|
|
|
— |
|
|
|
— |
|
Loss from operations |
|
|
(104,021 |
) |
|
|
(142,467 |
) |
|
|
(170,278 |
) |
Interest income |
|
|
3,964 |
|
|
|
9,366 |
|
|
|
10,649 |
|
Interest expense |
|
|
(1,602 |
) |
|
|
(1,729 |
) |
|
|
(1,565 |
) |
Other income (expense), net |
|
|
(36 |
) |
|
|
(20 |
) |
|
|
389 |
|
Net loss |
|
$ |
(101,695 |
) |
|
$ |
(134,850 |
) |
|
$ |
(160,805 |
) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 9, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.