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%.
Let’s discuss its recent news and developments briefly.
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.
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.
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.