ALGS Aligos Therapeutics Inc.

22.5
+1.31  (+6%)
Previous Close 21.19
Open 21.76
52 Week Low 12.82
52 Week High 37.5099
Market Cap $858,458,025
Shares 38,153,690
Float 14,668,806
Enterprise Value $607,931,690
Volume 57,640
Av. Daily Volume 59,457
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Upcoming Catalysts

Drug Stage Catalyst Date
ALG-000184
Hepatitis B
Phase 1
Phase 1
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ALG-010133
Hepatitis B
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
ALG-055009
Nonalcoholic steatohepatitis (NASH)
Phase 1
Phase 1
Phase 1 trial to commence 1H 2021.
ALG-020572
Hepatitis B
Phase 1
Phase 1
Phase 1 trial to commence 2H 2021.

Latest News

  1. SOUTH SAN FRANCISCO, Calif., May 10, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today reported recent business progress and financial results for the first quarter March 31, 2021.

    "Despite the many challenges posed by the ongoing pandemic, Aligos' 2021 activities remain on track," said Lawrence Blatt, PhD, MBA, CEO of Aligos. "Our clinical stage programs continue to advance, with dosing in CHB patients commencing for both our STOPS™ and CAM programs. Additionally, our ASO and thyroid hormone receptor beta agonist programs remain on track to start clinical trials in the second…

    SOUTH SAN FRANCISCO, Calif., May 10, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today reported recent business progress and financial results for the first quarter March 31, 2021.

    "Despite the many challenges posed by the ongoing pandemic, Aligos' 2021 activities remain on track," said Lawrence Blatt, PhD, MBA, CEO of Aligos. "Our clinical stage programs continue to advance, with dosing in CHB patients commencing for both our STOPS™ and CAM programs. Additionally, our ASO and thyroid hormone receptor beta agonist programs remain on track to start clinical trials in the second half of this year. Everyone at Aligos remains focused on advancing these and our various non-clinical programs towards the next stage of development."

    Recent Business Progress

    Aligos Portfolio of Drug Candidates:

    Evaluation of ALG-000184, a small molecule class II capsid assembly modulator (CAM), was initiated in patients with CHB. The study (NCT04536337) is evaluating 28 days of once daily oral dosing of ALG-000184 or placebo in treatment naïve/currently not treated patients with CHB. Safety and antiviral data from the initial cohort(s) are expected in the second half of 2021.

    Aligos' CAM program represents one of several in the company's chronic hepatitis B (CHB) portfolio that target different clinically validated mechanisms of action in the hepatitis B virus life cycle. The portfolio also includes ALG-010133, an S-antigen Transport-inhibiting Oligonucleotide Polymers (STOPSTM) molecule, ALG-020572, an antisense oligonucleotide (ASO), and ALG-020755, a small interfering RNA (siRNA) drug candidate. The properties of these candidates indicate that their use in combination could yield potentially best-in-class treatment regimens that may achieve higher rates of functional cure than current standard of care. For each of these drug candidates, Aligos plans to initially establish proof of concept as monotherapy in Phase 1 umbrella trials before evaluating them in combination in subsequent trials.

    Financial Results for the First Quarter 2021

    Net losses for the three months ended March 31, 2021 were $27.7 million or basic and diluted net loss per common share of $0.74 compared to net losses of $20.0 million or basic and diluted net loss per common share of $7.56 for the three months ended March 31, 2020.

    Research and development (R&D) expenses for the three months ended March 31, 2021, were $22.9 million compared with $17.3 million for the same period of 2020. The increase in R&D expenses for this comparative period is primarily attributable to increased expenses related to the Company's continued development of ALG-010133 and ALG-000184 clinical trial activities, as well as increases in salaries and employee-related expenses and preclinical programs. Total R&D stock-based compensation expense incurred for the three months ended March 31, 2021, was $1.7 million compared with $0.2 million for the same period for 2020.

    General and administrative (G&A) expenses for the three months ended March 31, 2021, were $5.8 million compared with $3.4 million for the same periods of 2020. The increase in G&A expenses for this comparative period is primarily attributable to higher employee-related costs associated with the growth of the Company's operations and additional professional and consulting services related to being a public company. Total G&A stock-based compensation expense incurred for the three months ended March 31, 2021, was $1.0 million compared with $0.2 million for the same period for 2020.

    Cash, cash equivalents and marketable securities totaled $213.4 million as of March 31, 2021 compared with $243.5 million as of December 31, 2020.

    About Aligos

    Aligos Therapeutics, Inc. is a clinical stage biopharmaceutical company that was founded in 2018 with the mission to become a world leader in the treatment of viral infections and liver diseases. Aligos is focused on the discovery and development of targeted antiviral therapies for chronic hepatitis B (CHB) and coronaviruses as well as leveraging its expertise in liver diseases to create targeted therapeutics for nonalcoholic steatohepatitis (NASH). Aligos' strategy is to harness the deep expertise and decades of drug development experience its team has in liver disease, particularly viral hepatitis, to rapidly advance its pipeline of potentially best-in-class molecules.

    Forward-Looking Statement

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including, without limitation, statements regarding the continued advancement of Aligos's clinical stage STOPS and CAM programs; the ASO and thyroid hormone receptor beta agonist programs remaining on track to start clinical trials in the second half of 2021; the advancement of these and various non-clinical programs towards the next stage of development; expectations that safety and antiviral data from the initial cohort(s) of the ALG-000184 study (NCT04536337) being available in the second half of 2021; the use of the candidates in Aligos's CHB portfolio in combination yielding potentially best-in-class treatment regimens that may achieve higher rates of functional cure than current standard of care; and Aligos's plans to initially establish proof of concept as monotherapy in Phase 1 umbrella trials for each of these CHB drug candidates before evaluating them in combination in subsequent trials.. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Aligos's clinical-stage of development, the process of designing and conducting clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Aligos's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Aligos's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Aligos in general, see Aligos's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 23, 2021 and as well as other documents Aligos files from time to time with the Securities and Exchange Commission. Except as required by law, Aligos undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Aligos Therapeutics, Inc
    Condensed Consolidated Statements of Operations
    (In thousands, except share and per share amounts)
     
     Three Months Ended March 31,

     2021 2020
     (Unaudited) (Unaudited)
          
    Revenue from Collaborations$910 $--
          
    Operating Expenses:     
    Research and development 22,869  17,302
    Selling, general and administrative 5,781  3,419
    Total operating expenses 28,650  20,721
          
    Loss from operations (27,740)  (20,721)
          
    Interest and other income (expense), net 111  692
          
    Loss before income tax expense (27,629)  (20,029)
          
    Income tax expense (45)  --
          
    Net loss$(27,674) $(20,029)
     $(0.74) $(7.56)
    Weighted-average number of shares used in computing basic and diluted net loss per common share 37,434,261  2,648,885
          

     

    Aligos Therapeutics, Inc
    Condensed Consolidated Balance Sheets
    (in thousands)
      March 31, 2021  December 31, 2020
      (Unaudited)  (1)
    Assets     
    Current assets:     
    Cash and cash equivalents$200,362 $220,383
    Short-term marketable securities 13,053  23,130
    Prepaid expenses and other current assets 6,411  6,504
    Total current assets 219,826  250,017
    Other assets 14,714  15,285
    Total assets$234,540 $265,302
    Liabilities and Stockholders' Equity

         
    Current liabilities$25,231 $30,274
    Other liabilities, noncurrent 14,089  14,989
    Total liabilities 39,320  45,263
    Total stockholders' equity 195,220  220,039
    Total liabilities and stockholders' equity$234,540 $265,302
          

    (1)   The condensed, consolidated balance sheet at December 31, 2020 has been derived from the audited consolidated financial statements at that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020.



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  2. SOUTH SAN FRANCISCO, Calif., May 05, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today announced that it will report the company's first quarter 2021 financial results on Monday, May 10, 2021 after the close of the financial markets.

    About Aligos Therapeutics

    Aligos Therapeutics, Inc. is a clinical stage biopharmaceutical company that was founded in 2018 with the mission to become a world leader in the treatment of viral infections and liver diseases. Aligos is focused on the discovery and development of targeted antiviral therapies for chronic hepatitis B (CHB) and coronaviruses…

    SOUTH SAN FRANCISCO, Calif., May 05, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today announced that it will report the company's first quarter 2021 financial results on Monday, May 10, 2021 after the close of the financial markets.

    About Aligos Therapeutics

    Aligos Therapeutics, Inc. is a clinical stage biopharmaceutical company that was founded in 2018 with the mission to become a world leader in the treatment of viral infections and liver diseases. Aligos is focused on the discovery and development of targeted antiviral therapies for chronic hepatitis B (CHB) and coronaviruses as well as leveraging its expertise in liver diseases to create targeted therapeutics for nonalcoholic steatohepatitis (NASH). Aligos' strategy is to harness the deep expertise and decades of drug development experience its team has in liver disease, particularly viral hepatitis, to rapidly advance its pipeline of potentially best-in-class molecules.

    Media Contact

    Amy Jobe, Ph.D.

    LifeSci Communications

    +1 315 879 8192

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    LifeSci Advisors

    +1 212 915 2577



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  3. SOUTH SAN FRANCISCO, Calif., April 27, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today announced that the company has appointed James Scopa, J.D., MBA, to the Company's board of directors.

    "We are thrilled to add someone of Jim's experience and accomplishments to Aligos' board, as the company continues its arc from its earliest, private, preclinical phase to growing into its role as an established clinical-stage public biopharma company," said Aligos Chief Executive Officer Lawrence Blatt, Ph.D., MBA. "Aligos will look to Jim for strategic counsel as the company approaches…

    SOUTH SAN FRANCISCO, Calif., April 27, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today announced that the company has appointed James Scopa, J.D., MBA, to the Company's board of directors.

    "We are thrilled to add someone of Jim's experience and accomplishments to Aligos' board, as the company continues its arc from its earliest, private, preclinical phase to growing into its role as an established clinical-stage public biopharma company," said Aligos Chief Executive Officer Lawrence Blatt, Ph.D., MBA. "Aligos will look to Jim for strategic counsel as the company approaches mid-stage clinical trials in chronic hepatitis B. We believe that Jim, with his extensive industry experience and his service as a director for numerous companies, will make a welcome addition to our board."

    Mr. Scopa brings over 30 years of experience in the life sciences industry as an investor and an advisor, having guided public and private boards on strategic and financial transactions. He currently serves as a member of the Investment Advisory Committee and Advisory Board of One Ventures, an Australia-based venture capital firm; he also holds board positions with several biotechnology companies, including Neuron 23 Inc., DiCE Molecules, Blade Therapeutics, Inc., and Adverum Biotechnologies, Inc. Previously, Mr. Scopa served as a Managing Director of MPM Capital from May 2005 to June 2017; he spent the prior 15 years working at Deutsche Banc Alex. Brown and Thomas Weisel Partners, advising growth companies in biopharmaceuticals and medical devices. At Deutsche Banc Alex. Brown, Mr. Scopa served as Managing Director and Global Co-Head of Healthcare Investment Banking; at Thomas Weisel Partners, Mr. Scopa served on the Investment Committee for the company's health care venture fund as well as Co-Director of Healthcare Investment Banking.

    Mr. Scopa added, "Aligos, with its esteemed management team and commitment to the utmost scientific rigor, has positioned itself to be a leader in chronic hepatitis B and other liver and viral diseases. I am privileged to help guide the company's vision with respect to clinical development as Aligos advances its programs."         

    Mr. Scopa holds an A.B. from Harvard College, an M.B.A. from Harvard Business School and a J.D. from Harvard Law School.

    About Aligos

    Aligos Therapeutics, Inc. is a clinical stage biopharmaceutical company that was founded in 2018 with the mission to become a world leader in the treatment of viral infections and liver diseases. Aligos is focused on the discovery and development of targeted antiviral therapies for chronic hepatitis B (CHB) and coronaviruses as well as leveraging its expertise in liver diseases to create targeted therapeutics for nonalcoholic steatohepatitis (NASH). Aligos' strategy is to harness the deep expertise and decades of drug development experience its team has in liver disease, particularly viral hepatitis, to rapidly advance its pipeline of potentially best-in-class molecules.

    Forward-Looking Statement

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements." Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Aligos' clinical-stage of development, the process of designing and conducting clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Aligos' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Aligos' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Aligos in general, see Aligos' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 23, 2021 and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Aligos undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Media Contact

    Amy Jobe, Ph.D.

    LifeSci Communications

    +1 315 879 8192

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    +1 212 915 2577



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  4. SOUTH SAN FRANCISCO, Calif., April 14, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today announced that the company has started dosing in the first cohort of chronic hepatitis B (CHB) patients in the ongoing ALG-000184-201 study (NCT04536337). The trial is evaluating ALG-000184, a proprietary Class II capsid assembly modulator (CAM) designed to inhibit viral replication, as determined by HBV DNA and RNA levels.

    "To fully suppress the hepatitis B virus, we believe you must not only remove the immunosuppressive effects of high S-antigen levels using oligonucleotide drug candidates…

    SOUTH SAN FRANCISCO, Calif., April 14, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today announced that the company has started dosing in the first cohort of chronic hepatitis B (CHB) patients in the ongoing ALG-000184-201 study (NCT04536337). The trial is evaluating ALG-000184, a proprietary Class II capsid assembly modulator (CAM) designed to inhibit viral replication, as determined by HBV DNA and RNA levels.

    "To fully suppress the hepatitis B virus, we believe you must not only remove the immunosuppressive effects of high S-antigen levels using oligonucleotide drug candidates such as our STOPS™ molecule, ALG-010133, but also inhibit replication of the virus using small molecule drug candidates such as our CAM, ALG-000184," said Lawrence Blatt, Ph.D., MBA, Chief Executive Officer of Aligos. "We believe combination approaches such as giving ALG-010133 and ALG-000184 together with a nucleos(t)ide analog therapy have the potential to achieve higher rates of functional cure than with current standard of care."

    Matthew W. McClure, M.D., Chief Medical Officer of Aligos, added, "ALG-000184 has demonstrated potent inhibition of HBV DNA and RNA levels in preclinical studies. This observation, coupled with the drug's clinical profile to date, led us to initiate dosing with ALG-000184 in CHB patients to assess its ability to suppress HBV DNA and RNA levels. We expect to begin reporting safety, pharmacokinetic, and antiviral activity data for ALG-000184 from the initial patient cohorts of this study in the second half of 2021."

    Professor Ed Gane, MB ChB, Principal Investigator for the ALG-000184-201 study, added, "I believe that combinations of drugs that collectively reduce S-antigen and HBV DNA/RNA levels have the potential to achieve significantly higher rates of functional cure than the current standard of care. By advancing their STOPS molecule drug candidate, ALG-010133, and now their CAM drug candidate, ALG-000184, separately into CHB patients, Aligos is laying the groundwork for future combination studies in CHB, where we can test this important hypothesis."

    ALG-000184-201 (NCT04536337) is a multi-part umbrella trial that is evaluating the safety, pharmacokinetics (PK) and antiviral activity of up to 28 daily oral doses of ALG-000184 in treatment-naïve CHB patients as well as CHB patients not currently being treated. The study also previously evaluated the safety and PK of up to 7 oral daily doses of ALG-000184 in 48 healthy volunteers and preliminary data indicate that ALG-000184 has a good safety and PK profile and can achieve drug levels expected to confer antiviral activity.

    Aligos' CAM program represents one of several in the company's CHB portfolio that target different clinically validated mechanisms of action in the hepatitis B virus life cycle. The portfolio also includes

    S-antigen Transport-inhibiting Oligonucleotide Polymer (STOPSTM) molecules, antisense oligonucleotide (ASO), and small interfering RNA (siRNA) drug candidates. The properties of these candidates indicate that their use in combination could yield potentially best-in-class treatment regimens that may achieve higher rates of functional cure than current standard of care. For each of these drug candidates, Aligos plans to initially establish proof of concept as monotherapy in Phase 1 umbrella trials before evaluating them in combination in subsequent trials.

    About Aligos

    Aligos Therapeutics, Inc. is a clinical stage biopharmaceutical company that was founded in 2018 with the mission to become a world leader in the treatment of viral infections and liver diseases. Aligos is focused on the discovery and development of targeted antiviral therapies for chronic hepatitis B (CHB) and coronaviruses as well as leveraging its expertise in liver diseases to create targeted therapeutics for nonalcoholic steatohepatitis (NASH). Aligos' strategy is to harness the deep expertise and decades of drug development experience its team has in liver disease, particularly viral hepatitis, to rapidly advance its pipeline of potentially best-in-class molecules.

    Forward-Looking Statement

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Aligos' expectation of reporting safety, pharmacokinetic, and antiviral activity data for ALG-000184 from the initial patient cohorts of the study in the second half of 2021; the achievement of higher rates of functional cure than the current standard of care through the combinations of drugs that collectively reduce S-antigen and HBV DNA/RNA levels; plans of future combination studies in CHB by advancing Aligos' STOPS molecule drug candidate, ALG-010133, and now its CAM drug candidate, ALG-000184, separately into CHB patients; the expectation that the drug levels achieved at doses evaluated in healthy volunteers will result in antiviral activity and thus supporting further evaluation of ALG-000184 in CHB patients; and Aligos' plans to initially establish proof of concept as monotherapy in Phase 1 umbrella trials for each of its CAM, STOPS, ASO and siRNA candidates before evaluating them in combination in subsequent trials. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Aligos' clinical-stage of development, the process of designing and conducting clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Aligos' ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Aligos' capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Aligos in general, see Aligos' Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 23, 2021 and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Aligos undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

    Media Contact

    Amy Jobe, Ph.D.

    LifeSci Communications

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  5. - Advanced ALG-010133 and ALG-000184 into the clinic - both expected to generate safety and antiviral activity data in Chronic Hepatitis B (CHB) patients in 2021
    - Listed on NASDAQ Global Select Market under the symbol ALGS and raised $167.2 million in gross proceeds from the Initial Public Offering (IPO), inclusive of the underwriters' exercise of their overallotment option
    - Cash, Cash Equivalents and investments of $243.5 million as of December 31, 2020

    SOUTH SAN FRANCISCO, Calif., March 23, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today announced its financial results for…

    - Advanced ALG-010133 and ALG-000184 into the clinic - both expected to generate safety and antiviral activity data in Chronic Hepatitis B (CHB) patients in 2021

    - Listed on NASDAQ Global Select Market under the symbol ALGS and raised $167.2 million in gross proceeds from the Initial Public Offering (IPO), inclusive of the underwriters' exercise of their overallotment option

    - Cash, Cash Equivalents and investments of $243.5 million as of December 31, 2020

    SOUTH SAN FRANCISCO, Calif., March 23, 2021 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (NASDAQ:ALGS), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in viral and liver diseases, today announced its financial results for the fourth quarter and full year 2020 and provided an overview of recent business highlights.

    "Last year was a transformative year for Aligos," said Larry Blatt, PhD, MBA, CEO of Aligos. "During 2020, we became both a well-financed public company, via our $167.2 million IPO, as well as a clinical stage company by advancing our first two CHB assets, ALG-010133 and ALG-000184, into the clinic. This year is on track to be similarly impactful for Aligos as we expect to generate important proof of activity data in CHB patients for both ALG-010133 and ALG-000184 as well as advancing two more assets, ALG-020572 and ALG-055009, into the clinic."

    "The advancement of these four drug candidates towards and in the clinic this year represents the culmination of three years of hard work by all of our employees," noted Leo Beigelman, PhD, President of Aligos. "We look forward to seeing the clinical results of these efforts."

    Recent Business Highlights

    Aligos Portfolio of Drug Candidates:

    • ALG-010133 (an S-antigen Transport-inhibiting Oligonucleotide Polymer (STOPS™) molecule that is designed to decrease hepatitis B surface antigen (HBsAg) levels)
      • Single and multiple ascending dose (SAD/MAD) evaluation in healthy volunteers (HV) was completed generating data supportive of commencing dosing in CHB patients.
      • Enrollment of CHB patients is ongoing. The study is evaluating 12 weeks of once weekly subcutaneous ALG-010133/placebo dosing in virologically suppressed CHB patients. Safety and antiviral data from the initial cohort(s) is expected in the second half of 2021.
    • ALG-000184 is a small molecule class II capsid assembly modulator (CAM) that is designed to target hepatitis B virus (HBV) capsid assembly, resulting in decreased HBV DNA/RNA levels, as well as the establishment of covalently closed circular DNA (cccDNA)
      • SAD/MAD evaluation in HV was completed generating data supportive of commencing dosing in CHB patients.
      • Screening in CHB patients has commenced. The study is evaluating 28 days of once daily oral dosing of ALG-000184 or placebo in treatment naïve/currently not treated patients. Safety and antiviral data from the initial cohort(s) expected in the second half of 2021.
    • ALG-020572 (antisense oligonucleotide (ASO) that is designed to decrease HBsAg levels)
      • Advanced into clinical trial application (CTA)-enabling toxicology studies. Planned to begin Phase 1 study in the second half of 2021.
    • ALG-055009 (thyroid hormone beta agonist that is designed to reduce plasma and liver lipid levels in nonalcoholic steatohepatitis (NASH))
      • Advanced into CTA-enabling toxicology studies. Planned to begin Phase 1 study in the second half of 2021.
    • ALG-125755 (small interfering RNA (siRNA) that is designed to decrease HBsAg levels)
      • Drug candidate identified and advancing into nonclinical studies. CTA-enabling toxicology studies planned for the second half of 2021.

    Corporate:

    • Expanded the management team with the appointment of Lesley Ann Calhoun as Executive Vice President, Chief Financial Officer in June 2020. Ms. Calhoun is an experienced finance executive with 17+ years in the biopharmaceutical industry as well as an earlier career in U.S. and multinational technology companies and public accounting. Prior to Aligos, she served as Senior Vice President of finance & administration and Chief Accounting Officer at Global Blood Therapeutics, Inc.



    • Awarded €1.8 million Flemish Agency for Innovation and Entrepreneurship (VLAIO) grant to advance chronic hepatitis B research.

    CHB Related License & Collaboration Agreements:

    • Aligos and Emory University Announce Expanded License Agreement and Ink Collaboration Agreement for CHB (Q2'20)
      • The expanded license includes additional technology developed at Emory and relates to Aligos' CAM efforts in CHB.
      • The collaboration pertains to the synthesis and evaluation of CAM compounds arising from the additional licensed technology pursuant to a one-year research plan with an option to extend the plan for a second year.

    Coronavirus Related License & Collaboration Agreements:

    • Aligos Expands Licensing Agreement with Luxna Biotech in Oligonucleotide Technology to Include Novel Coronavirus Targets (Q3'20)
      • The expanded agreement grants Aligos exclusive rights to use Luxna's technology to target the genomes of certain families of respiratory viruses, including Coronaviridae, which includes SARS-CoV-2, the virus which causes COVID-19.
    • Aligos and KU Leuven Announce a Collaboration and License Agreement for the Development of a Therapeutic Candidate Targeting Coronavirus (Q3'20)
      • The agreement with KU Leuven pertains to the parties' collaboration to develop coronavirus protease inhibitors as potential therapeutic candidates to address the COVID-19 pandemic and grants to Aligos exclusive, worldwide rights to manufacture and commercialize any such resulting therapeutics.

    NASH Related License & Collaboration Agreement:

    • Aligos Enters into an Exclusive License and Research Collaboration Agreement with Merck to Discover and Develop an Oligonucleotide Therapy for NASH (Q4'20)
      • The collaboration relates to the parties' application of Aligos' oligonucleotide platform technology to discover, research, optimize and develop oligonucleotides directed against a NASH target (and up to one additional target of interest in the cardiometabolic/fibrosis space). Under the agreement, Merck is granted exclusive, worldwide rights to conduct subsequent research, clinical development and commercialization efforts of the oligonucleotides resulting from the collaboration efforts.

    Financial Results for the Fourth Quarter and Full Year 2020

    Cash, cash equivalents and investments totaled $243.5 million on December 31, 2020 compared with $127.7 million on December 31, 2019, reflecting the $167.2 million in gross proceeds from the Company's initial public offering in October 2020, inclusive of the underwriters' exercise of their overallotment option.

    Net losses for the fourth quarter and full year 2020 were $34.4 million and $108.5 million, respectively, or basic and diluted net loss per common share of $1.09 and $10.87, respectively. This compared to net losses of $18.2 million and $52.3 million, respectively, or basic and diluted net loss per common share of $7.27 and $26.04, respectively for the same periods in 2019.

    Research and development (R&D) expenses were $28.1 million and $79.9 million for the fourth quarter and full year 2020, respectively, compared to $15.0 million and $44.0 million for the same periods in 2019, respectively. The increase in R&D expenses for both comparative periods is primarily attributable to increased expenses related to the Company's development of ALG-010133 and ALG-000184 clinical trial activities, as well as increases in salaries and employee-related expenses. Total R&D stock-based compensation expense incurred for the three months ended December 31, 2020, was $0.7 million compared with $0.1 million for the same period in 2019. Total R&D stock-based compensation expense incurred in the year ended December 31, 2020, was $1.0 million, compared with $0.5 million for the same period in 2019.

    General and administrative (G&A) expenses were $6.2 million and $17.9 million for the fourth quarter and full year 2020, respectively, compared to $3.5 million and $10.0 million for the same periods of 2019, respectively. The increase in G&A for both comparative periods is primarily attributable to higher employee-related costs associated with the growth of the Company's operations and additional professional and consulting services related to being a public company. Total G&A stock-based compensation expense incurred for the three months ended December 31, 2020, was $0.6 million compared with $0.1 million for the same period in 2019. Total G&A stock-based compensation expense incurred in the year ended December 31, 2020, was $1.9 million, compared with $0.3 million for the same period in 2019.

    About Aligos

    Aligos Therapeutics, Inc. is a clinical stage biopharmaceutical company that was founded in 2018 with the mission to become a world leader in the treatment of viral infections and liver diseases. Aligos is focused on the discovery and development of targeted antiviral therapies for chronic hepatitis B (CHB) and coronaviruses as well as leveraging its expertise in liver diseases to create targeted therapeutics for nonalcoholic steatohepatitis (NASH). Aligos' strategy is to harness the deep expertise and decades of drug development experience its team has in liver disease, particularly viral hepatitis, to rapidly advance its pipeline of potentially best-in-class molecules.

    Forward-Looking Statement

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding Aligos's expectations in generating proof of activity data in CHB patients for both ALG-010133 and ALG-000184 as well as advancing ALG-020572 and ALG-055009 into the clinic in 2021; expectations in receiving safety and antiviral data from the initial CHB patient cohort(s) in the ALG-010133 study in the second half of 2021; expectations in receiving safety and antiviral data from the initial CHB patient cohort(s) in the ALG-000184 study in the second half of 2021; plans to begin Phase 1 study for ALG-020572 in the second half of 2021; plans to begin Phase 1 study for ALG-055009 in the second half of 2021; and plans to advance ALG-125755 into CTA-enabling toxicology studies in the second half of 2021. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including Aligos's clinical-stage of development, the process of designing and conducting clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Aligos's ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of Aligos's capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on our business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Aligos in general, see Aligos's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 23, 2021 and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Aligos undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

     
    Aligos Therapeutics, Inc

    Condensed Consolidated Statements of Operations
    (In thousands, except share and per share amounts)
            
       Three Months Ended

      Year Ended

       December 31,

     December 31,

       2020   2019   2020   2019 
       (Unaudited)   (Unaudited)   (Unaudited)     
                     
    Operating Expenses:                
    Research and development $28,081  $14,973  $79,890  $44,038 
    Selling, general and administrative  6,205   3,463   17,944   10,005 
    Total operating expenses  34,286   18,436   97,834   54,043 
                     
    Loss from operations  (34,286)  (18,436)  (97,834)  (54,043)
                     
    Interest and other income (expense), net  85   337   (10,548)  1,864 
                     
    Loss before income tax expense  (34,201)  (18,099)  (108,382)  (52,179)
                     
    Income tax expense  (219)  (85)  (161)  (85)
                     
    Net loss $(34,420) $(18,184) $(108,543) $(52,264)
                     
    Basic and diluted net loss per common share  $(1.09) $(7.27) $(10.87) $(26.04)
    Weighted-average number of shares used in computing basic and diluted net loss per common share   31,465,208    2,500,501    9,988,191    2,007,173 
                    



     
    Aligos Therapeutics, Inc

    Condensed Consolidated Balance Sheets

    (in thousands)
     
      December 31, 2020  December 31, 2019
      (Unaudited)   
    Assets     
    Current assets:     
    Cash and cash equivalents$220,383 $69,565
    Short-term investments 23,130  48,098
    Prepaid expenses and other current assets 6,504  2,563
    Total current assets 250,017  120,226
    Long-term investments -  10,019
    Other assets 15,285  16,275
    Total assets$265,302 $146,520
          
    Current liabilities$30,274 $13,818
    Other liabilities, noncurrent 14,989  15,514
    Total liabilities 45,263  29,332
    Total stockholders' equity 220,039  117,188
    Total liabilities and stockholders' equity$265,302 $146,520
          

    Media Contact

    Amy Jobe, Ph.D.

    LifeSci Communications

    +1 315 879 8192

    Investor Contact

    Corey Davis, Ph.D.

    LifeSci Advisors

    +1 212 915 2577

     



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