Aligos Therapeutics Inc. (ALGS) shares lost 7.37% in after-hours on Monday, June 28, 2021, and closed at $22.00 per share. Earlier in the morning session, ALGS’s stock lost -11.35% to close Monday’s session at $23.75 per share. ALGS shares have N moved down 11.84% in the past week. Over the past three months, the stock has gained 23.38%, while over the past six months, it has shed -17.68%.
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Let’s discuss its recent news and developments briefly.
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Proposed Public Offering of Common Stock
On June 28, 2021, Aligos Therapeutics, Inc commenced an underwritten public offering of 4,000,000 shares of common stock. underwriters will also get a 30-day option to purchase up to an additional 600,000 shares of common stock.
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Data presentation of ALG 010133 at ILC 2021
On June 21, 2021, Aligos Therapeutics, Inc announced to present preliminary data from the ongoing Phase 1a/b multi-part umbrella clinical trial of Aligos’ S-antigen Transport-inhibiting Oligonucleotide Polymers (STOPSTM) compound ALG-010133.
The data was presented in a poster presentation at the European Association for the Study of the Liver (EASL) Digital International Liver Congress™ in 2021 (ILC 2021). ILC 2021 which held virtually on June 23-26, 2021.
The data presented confirmed that the LG-010133 was generally safe and well-tolerated in HVs when given as single and multiple (3 weekly) subcutaneous doses of up to 200 and 180 mg, respectively.
Data presentation at HBV-TAG 2021 Conference
Aligos Therapeutics, Inc presented a poster describing data from the ongoing Study ALG-000184-201 (NCT04536337) at the HBV-TAG 2021 Conference, which took place virtually from June 11-12, 2021.
The poster presentations revealed that well-tolerated, 100 mg of ALG-000184 given over 14 days resulted in a mean reduction in hepatitis B virus (HBV) DNA of 2.9 log10 IU/mL.
Recent financial results announcement
On May 10, 2021, Aligos Therapeutics, Inc released its financial results for the first quarter on March 31, 2021.
Q1 2021 financial highlights
- The revenue from Collaborations was $910 thousand in Q1 2021 compared to zero revenue in Q1 2020.
- Aligos Therapeutics suffered a net loss of $27.7 million or $0.74net loss per basic and diluted common share in Q1 2021 compared to net losses of $20.0 million or $7.56 per basic and diluted common share in Q1 2020.
- Research and development expenses were $22.9 million in Q1 2021 compared with $17.3 million in Q1 2020.
- General and administrative expenses were $5.8 million in Q1 2021 compared with $3.4 million for the same periods in 2020.
- As of March 31, 2021, the company had cash, cash equivalents and marketable securities totalled $213.4 million compared with $243.5 million as of December 31, 2020.
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Conclusion
The commencing of Public Offering of Common Stock was the reason behind its loss on Monday. We hope that ALGS will start the Tuesday trading with a positive mode.
