Core Viewpoint - Apollomics Inc. reported financial results for the fiscal year ended December 31, 2024, highlighting its focus on developing oncology drug candidates, particularly vebreltinib, and its strategic collaborations to enhance clinical data and market opportunities [1][9]. Financial Results - As of December 31, 2024, Apollomics had 37.8 million in 2023 [12]. - The net loss for 2024 was (52.80) per basic and diluted share, compared to a net loss of (231.99) per share in 2023 [12][20]. - Research and development expenses for 2024 were 34.2 million in 2023 [12][20]. - Administrative expenses decreased to 20.6 million in 2023 [12][20]. Pipeline and Clinical Updates - Apollomics is focusing on vebreltinib (APL-101), a c-Met inhibitor, which has shown a 43% objective response rate in a Phase 2 clinical trial for non-CNS MET fusion solid tumors [6]. - The company announced a strategic collaboration with LaunXP to develop vebreltinib in combination with an EGFR inhibitor, which includes a 50 million [5][12]. - New interim data for vebreltinib includes promising results for treating NSCLC with MET amplification and non-CNS solid tumors with MET fusions [5][6]. Business Highlights - Apollomics raised $5.8 million in a private placement in May 2024 [12]. - The company has terminated collaborations with Glycomimetics and TYG Oncology to focus resources on vebreltinib MET amplification [12]. - The strategic focus on vebreltinib aims to address the unmet medical needs of patients with specific c-Met alterations [12].
Apollomics Reports Full Year 2024 Financial Results and Highlights Clinical Updates and Business Progress