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

SOUTH SAN FRANCISCO, Calif., April 17, 2026 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc. (“ALX Oncology,” Nasdaq: ALXO), a clinical-stage biotechnology company advancing a pipeline of novel therapies designed to treat cancer and extend patients' lives, announced that the Compensation Committee of the Board of Directors of ALX Oncology approved the granting of an inducement stock option to purchase a total of 800,000 shares of ALX Oncology's common stock to Jeff Knight, M.P.H., Chief Development and Operating Officer, on April 16, 2026 in connection with the commencement of his employment. Mr. Knight'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 was granted as an inducement material to Mr. Knight to enter into employment with ALX Oncology in accordance with Nasdaq Listing Rule 5635(c)(4).