Aligos Therapeutics Reports Recent Business Progress and Third Quarter 2024 Financial Results

Core Insights - Aligos Therapeutics reported significant progress in its clinical programs and financial results for Q3 2024, highlighting the potential of its drug candidates for liver and viral diseases [1][2]. Recent Business Progress - The company achieved a milestone with positive topline HERALD data for ALG-055009, showing placebo-adjusted median relative reductions in liver fat of up to 46.2% [2][4]. - ALG-000184 is advancing towards a Phase 2 study for chronic hepatitis B (CHB), with positive feedback from the FDA and the National Medical Products Administration in China [3][4]. - ALG-097558, a pan-coronavirus protease inhibitor, is set to begin three additional clinical studies in 2024 [5]. Financial Results for Q3 2024 - Cash, cash equivalents, and investments totaled $74.9 million as of September 30, 2024, down from $135.7 million at the end of 2023, with sufficient funds projected to support operations through the end of 2025 [6]. - The net loss for Q3 2024 was $19.3 million, or $(3.07) per share, compared to a net loss of $18.0 million, or $(10.37) per share, in Q3 2023 [7]. - Research and development expenses increased to $16.8 million from $15.9 million year-over-year, primarily due to higher third-party clinical trial expenses [8]. Drug Candidates Overview - ALG-000184 is positioned as a potential first-/best-in-class treatment for CHB, with ongoing Phase 1a/1b studies and plans for future registration studies [3]. - ALG-055009 demonstrated significant efficacy in reducing liver fat and improving lipid profiles, with favorable tolerability [4]. - ALG-097558 is being evaluated in high-risk COVID patients, with studies sponsored by the AGILE University of Liverpool and the NIAID [5].