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ALGS 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.

ALGS stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 21
23 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 187.84M 187.84M 187.84M 187.84M 187.84M 187.84M
Cash burn (monthly) 4.36M (positive/no burn) 9.86M 9.43M 219.67K 2.64M
Cash used (since last report) 16.49M n/a 37.28M 35.67M 830.96K 10M
Cash remaining 171.36M n/a 150.56M 152.17M 187.01M 177.85M
Runway (months of cash) 39.3 n/a 15.3 16.1 851.3 67.3

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Jun 21 Nuechterlein Carole Stock Option Common Stock Grant Acquire A No No 26.58 15,000 398.7K 15,000
17 Jun 21 Peter Hirth Stock Option Common Stock Grant Acquire A No No 26.58 15,000 398.7K 15,000
17 Jun 21 Thomas Woiwode Stock Option Common Stock Grant Acquire A No No 26.58 15,000 398.7K 15,000
17 Jun 21 Nielsen Jack Stock Option Common Stock Grant Acquire A No No 26.58 15,000 398.7K 15,000
11 Jun 21 Thomas Woiwode Common Stock Other Acquire J No No 0 2,226 0 4,452
11 Jun 21 Thomas Woiwode Common Stock Other Dispose J Yes No 0 8,383 0 0
11 Jun 21 Thomas Woiwode Common Stock Other Acquire J Yes No 0 8,383 0 8,383
11 Jun 21 Thomas Woiwode Common Stock Other Dispose J Yes No 0 9,719 0 0
11 Jun 21 Thomas Woiwode Common Stock Other Acquire J Yes No 0 9,719 0 9,719
11 Jun 21 Thomas Woiwode Common Stock Other Dispose J Yes Yes 0 485,979 0 1,457,937

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 60 53 +13.2%
Opened positions 16 7 +128.6%
Closed positions 9 8 +12.5%
Increased positions 20 20
Reduced positions 12 9 +33.3%
13F shares
Current Prev Q Change
Total value 731.81M 776.78M -5.8%
Total shares 35.11M 36.1M -2.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Wellington Management 4.18M $85.12M +4.4%
Vivo Capital VIII 3.55M $46.82M 0.0%
Vivo Capital 3.55M $72.31M 0.0%
Roche Finance 3.09M $85.5M 0.0%
Novo Holdings A/S 2.61M $53.31M 0.0%
Versant Venture Management 2.32M $47.3M -29.5%
JHG Janus Henderson 2.26M $45.8M +1.3%
Hillhouse Capital Advisors 2.17M $44.14M 0.0%
Baker Bros. Advisors 1.61M $32.82M 0.0%
Boxer Capital 1.53M $31.11M 0.0%
Largest transactions
Shares Bought/sold Change
Versant Venture Management 2.32M -971.96K -29.5%
Versant Venture Capital VI 1.46M -971.96K -40.0%
BLK Blackrock 1.08M +388.17K +55.8%
Vanguard 983.3K +368.54K +59.9%
Cormorant Asset Management 905.47K -361.7K -28.5%
Logos Global Management 212.79K -263.76K -55.3%
Acuta Capital Partners 214.25K +214.25K NEW
Wellington Management 4.18M +176.29K +4.4%
STT State Street 298.59K +126.45K +73.5%
Geode Capital Management 255.35K +76.6K +42.9%

Financial report summary

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Risks
  • Risks related to our limited operating history, financial position and need for additional capital
  • We are a clinical-stage biopharmaceutical company with a limited operating history and no products approved for commercial sale. We have incurred significant losses since inception. We expect to incur losses for at least the next several years and may never achieve or maintain profitability, which, together with our limited operating history, makes it difficult to assess our future viability.
  • We have never generated revenue from product sales and may never be profitable.
  • We will require substantial additional financing to achieve our goals, which may not be available on acceptable terms, or at all. A failure to obtain this necessary capital when needed could force us to delay, limit, reduce or terminate our product development or commercialization efforts.
  • Our operating results may fluctuate significantly, which will make our future results difficult to predict and could cause our results to fall below expectations.
  • Our business could be materially adversely affected by the effects of health pandemics or epidemics, including the current outbreak of COVID-19 and future coronavirus outbreaks, and in particular in regions where we or third parties on which we rely have significant manufacturing facilities, concentrations of clinical trial sites or other business operations, including the San Francisco Bay Area where our headquarters are located.
  • Risks related to product development and regulatory process
  • We are early in our development efforts, and our business is dependent on the successful development of our current and future drug candidates. If we are unable to advance our current or future drug candidates through clinical trials, obtain marketing approval and ultimately commercialize any drug candidates we develop, or experience significant delays in doing so, our business will be materially harmed.
  • The regulatory approval processes of the FDA, the EMA and comparable foreign authorities are lengthy, time-consuming, complex and inherently unpredictable, and if we are ultimately unable to obtain regulatory approval for our drug candidates, our business will be substantially harmed.
  • Clinical product development involves a lengthy and expensive process, with uncertain outcomes. We may experience delays in completing, or ultimately be unable to complete, the development and commercialization of our current and future drug candidates, which could result in increased costs to us, delay or limit our ability to generate revenue and adversely affect our business, financial condition, results of operations and prospects.
  • Our pursuit of potential therapies for COVID-19 is at an early stage.
  • The regulatory pathways for our drug candidates targeting SARS-CoV-2, the virus that causes COVID-19, are continually evolving, and may result in unexpected or unforeseen challenges.
  • The results of nonclinical studies and early-stage clinical trials may not be predictive of future results.
  • If we encounter difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • Changes in methods of drug candidate manufacturing or formulation may result in additional costs or delay.
  • Our current or future drug candidates may cause undesirable side effects or have other properties when used alone or in combination with other approved products or investigational new drugs that could delay or halt their clinical development, prevent their marketing approval, limit their commercial potential or result in significant negative consequences.
  • Even if we complete the necessary nonclinical studies and clinical trials, the marketing approval process is expensive, time-consuming and uncertain and may prevent us or any of our future collaboration partners from obtaining approvals for the commercialization of our current drug candidates and any other drug candidate we develop.
  • Even if a current or future drug candidate receives marketing approval, it may fail to achieve the degree of market acceptance by physicians, patients, third-party payors and others in the medical community necessary for commercial success.
  • Adverse events in our therapeutic areas of focus, including hepatological indications and viral diseases, could damage public perception of our current or future drug candidates and negatively affect our business.
  • Negative developments and negative public opinion of technologies on which we rely may damage public perception of our drug candidates or adversely affect our ability to conduct our business or obtain regulatory approvals for our drug candidates.
  • Even if we receive marketing approval of a drug candidate, we will be subject to ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense, and we may be subject to penalties if we fail to comply with regulatory requirements or experience unanticipated problems with our products, if approved.
  • Even if we obtain and maintain approval for our drug candidates from the FDA, we may never obtain approval outside the United States, which would limit our market opportunities.
  • Risks associated with our international operations, including seeking and obtaining approval to commercialize our drug candidates in foreign jurisdictions, could harm our business.
  • Disruptions at the FDA and other government agencies caused by funding shortages or global health concerns could hinder their ability to hire, retain or deploy key leadership and other personnel, or could otherwise prevent new or modified products from being developed, approved or commercialized in a timely manner or at all, which could negatively impact our business.
  • We intend to develop our current drug candidates, and expect to develop other future drug candidates, in combination with other therapies, which exposes us to additional risks.
  • If any of our current or future drug candidates obtain regulatory approval, additional competitors could enter the market with generic versions of such products, which may result in a material decline in sales of our competing products.
  • Even if we are able to commercialize any drug candidates, such products may become subject to unfavorable pricing regulations or third-party coverage and reimbursement policies, which would harm our business.
  • We may not be successful in our efforts to identify or discover other drug candidates and may fail to capitalize on programs or drug candidates that may present a greater commercial opportunity or for which there is a greater likelihood of success.
  • We may seek Orphan Drug Designation for drug candidates we develop, and we may be unsuccessful or may be unable to maintain the benefits associated with Orphan Drug Designation, including the potential for market exclusivity.
  • We may be required to make significant payments under our license agreements with Emory University and Luxna Biotech Co., Ltd.
  • If product liability lawsuits are brought against us, we may incur substantial liabilities and may be required to limit commercialization of any approved products.
  • Healthcare legislative reform measures may have a material adverse effect on our business and results of operations.
  • Failure to comply with current or future federal, state and foreign laws and regulations and industry standards relating to privacy and data protection laws could lead to government enforcement actions, which could include civil or criminal penalties, private litigation, and/or adverse publicity and could negatively affect our operating results and business.
  • Our internal computer systems, or those used by our CROs or other contractors or consultants, may fail or suffer security breaches.
  • We depend on collaborations with third parties for the development of certain of our potential drug candidates, and we may depend on additional collaborations in the future for the development and commercialization of these or other potential candidates. If our collaborations are not successful, we may not be able to capitalize on the market potential of these drug candidates.
  • We may seek to establish additional collaborations, and, if we are not able to establish them on commercially reasonable terms, we may have to alter our development and commercialization plans.
  • If conflicts arise between us and our collaborators or strategic partners, these parties may act in a manner adverse to us and could limit our ability to implement our strategies.
  • We rely on third parties to conduct our ongoing and planned clinical trials and certain of our nonclinical studies for drug candidates we develop. If these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, we may not be able to obtain marketing approval for or commercialize the drug candidates we are developing and our business could be substantially harmed.
  • We rely on third parties to manufacture nonclinical and clinical drug supplies, and we intend to rely on third parties to produce commercial supplies of any approved product which increases the risk that we will not have sufficient quantities of such drug candidates or products or such quantities at an acceptable cost, which could delay, prevent or impair our development or commercialization efforts.
  • Risks related to intellectual property
  • If we and our collaborators are unable to obtain, maintain, protect and enforce sufficient patent and other intellectual property protection for our drug candidates and technology, our competitors could develop and commercialize products and technology similar or identical to ours, and we may not be able to compete effectively in our market or successfully commercialize any drug candidates we may develop.
  • If we are unable to obtain licenses from third parties on commercially reasonable terms or at all, our business could be harmed.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which might subject us to infringement claims or adversely affect our ability to develop and market our drug candidates.
  • Patent terms may be inadequate to establish our competitive position on our drug candidates for an adequate amount of time.
  • We may not be able to protect our intellectual property rights throughout the world.
  • We may become involved in lawsuits to protect or enforce our patents or other intellectual property, which could be expensive, time-consuming and unsuccessful, and issued patents directed towards our technology and drug candidates could be found invalid or unenforceable if challenged.
  • Third parties may initiate legal proceedings alleging that we are infringing, misappropriating or otherwise violating their intellectual property rights, the outcome of which would be uncertain and could negatively impact the success of our business.
  • We may be subject to claims challenging the inventorship of our patents and other intellectual property.
  • Intellectual property rights do not necessarily address all potential threats.
  • Risks related to employee matters, managing our growth and other risks related to our business
  • We are highly dependent on our key personnel, and if we are not successful in attracting, motivating and retaining highly qualified personnel, we may not be able to successfully implement our business strategy.
  • We currently have no sales organization. If we are unable to establish sales capabilities on our own or through third parties, we may not be able to market and sell any products effectively, if approved, or generate product revenue.
  • We will need to grow the size of our organization, and we may experience difficulties in managing this growth.
  • If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
  • We or the third parties upon whom we depend may be adversely affected by earthquakes or other natural disasters and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
  • Risks related to our common stock
  • The price of our common stock may be volatile and fluctuate substantially, which could result in substantial losses for investors.
  • An active trading market for our common stock may not be sustained.
  • We do not intend to pay dividends on our common stock so any returns will be limited to the value of our stock.
  • We are an emerging growth company and a smaller reporting company, and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies and smaller reporting companies will make our common stock less attractive to investors.
  • Our executive officers, directors and their affiliates have significant influence over our company, which will limit an investor’s ability to influence corporate matters and could delay or prevent a change in corporate control.
  • The dual class structure of our common stock may limit the ability to influence corporate matters and may limit the visibility with respect to certain transactions.
  • Sales of a substantial number of shares of our common stock in the public market could cause our stock price to fall.
  • Our ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
  • If securities analysts do not publish research or reports about our business or if they publish negative evaluations of our stock, the price of our stock could decline.
  • If we fail to implement and maintain proper and effective internal control over financial reporting, our ability to produce accurate and timely financial statements could be impaired, investors may lose confidence in our financial reporting and the trading price of our common stock may decline.
  • Provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable and may lead to entrenchment of management.
  • Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
  • Our amended and restated certificate of incorporation provides for an exclusive forum in the Court of Chancery of the State of Delaware for certain disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • Raising additional capital may cause dilution to our stockholders, restrict our operations or require us to relinquish rights to our technologies.
  • Unfavorable global economic conditions could adversely affect our business, financial condition, stock price and results of operations.
  • Our insurance policies are expensive and protect us only from some business risks, which leaves us exposed to significant uninsured liabilities.
  • The United Kingdom’s withdrawal from the European Union may have a negative effect on global economic conditions, financial markets and our business.
  • We are subject to certain U.S. and foreign anti-corruption, anti-money laundering, export control, sanctions, and other trade laws and regulations, violations of which can have serious negative consequences for our business.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent rights, if any, could be reduced or eliminated if we fail to comply with these requirements.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Public health pandemics or epidemics, political instability, terrorist attacks, other acts of violence or war, or other unexpected events could materially and adversely impact us.
  • Current or future litigation or administrative proceedings could have a material adverse effect on our business, our financial condition and our results of operations.
  • We incur significantly increased costs as a result of operating as a public company, and our management is required to devote substantial time to new compliance initiatives and corporate governance practices.
  • If we sell shares of our common stock in future financings, stockholders may experience immediate dilution and, as a result, our stock price may decline.
  • If our estimates or judgments relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our operating results could fall below our publicly announced guidance or the expectations of securities analysts and investors, resulting in a decline in the market price of our common stock.
Management Discussion
  • Research and development expenses were $24.6 million for the three months ended June 30, 2021, compared to $17.2 million for the three months ended June 30, 2020, an increase of $7.4 million. The increase was primarily due to an increase of $2.2 million of additional employee-related costs, of which $1.8 million related to stock-based compensation. The increase also includes $3.8 million in third-party expenses for our preclinical programs and the continued increase in expenditures related to research and development activities associated with our STOPs molecule and CAM candidates as well as activities related to our NASH program, a $0.3 million increase in consulting services, a $0.2 million increase in depreciation, a $0.2 million in recruiting costs due to increased headcount, and $0.7 million of facilities and related expenses.
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