ALGS · Aligos Therapeutics, Inc.

Aligos Therapeutics announced first quarter 2026 results alongside significant pipeline advancements for its HBV programs. The company reported a GAAP net loss of $23.0 million, or $(2.21) per share, compared to net income of $43.1 million, or $5.12 basic per share, in the prior year period. This swing was driven by revenue increase to $2.8 million from $0.3 million, offset by sharply higher R&D expenses of $23.4 million (up from $14.5 million), primarily from third-party costs for the ongoing Phase 2 B-SUPREME trial of pevifoscorvir sodium. G&A expenses rose modestly to $6.4 million from $5.1 million. Positive warrant valuation changes contributed $3.4 million in income, down significantly from $61.5 million last year. Cash and investments stood at $54.9 million at quarter-end, down from $77.8 million at year-end 2025, but expected to fund operations into Q4 2026 including the $25 million Amoytop upfront. CEO Lawrence Blatt highlighted Fast Track Designation for pevifoscorvir sodium, confirming unmet need in chronic HBV and potential superiority over current therapies. The B-SUPREME study's first interim analysis in the HBeAg- cohort showed no futility, good tolerability across 174 participants, and a DSMB recommendation to expand enrollment to 100, enhancing success probability versus TDF comparator. The Amoytop deal for Greater China rights provides non-dilutive capital and validates the asset. ALG-170675 ASO advances in IND-enabling studies funded by Amoytop in China, while ALG-055009 for obesity/MASH explores synergies and funding options. Topline B-SUPREME data expected 2027, with long-term Phase 1 data at EASL 2026.