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 $9.8 million in cash and cash equivalents, a decrease from $37.8 million in 2023 [12]. - The net loss for 2024 was $(53.9) million, or $(52.80) per basic and diluted share, compared to a net loss of $(172.6) million, or $(231.99) per share in 2023 [12][20]. - Research and development expenses for 2024 were $24.6 million, down from $34.2 million in 2023 [12][20]. - Administrative expenses decreased to $17.8 million in 2024 from $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 $10 million upfront payment and potential milestone payments of up to $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].

Core Viewpoint - Apollomics Inc. has entered into a partnership with LaunXP International Co., Ltd. for the development and commercialization of vebreltinib, a c-Met inhibitor, in combination with an EGFR inhibitor for the treatment of non-small cell lung cancer (NSCLC) in Asia, excluding mainland China, Hong Kong, and Macau [1][2][6] Company Overview - Apollomics Inc. is a late-stage clinical biopharmaceutical company focused on developing oncology drug candidates for difficult-to-treat and treatment-resistant cancers [1][5] - LaunXP Biomedical Co., Ltd. is dedicated to developing innovative cancer therapies and has successfully licensed several drug technologies [7][8] Partnership Details - The agreement includes an upfront payment of $10 million to Apollomics, with potential regulatory and pre-commercial milestone payments up to $50 million, along with royalties on net product sales [2][6] - LaunXP will be primarily responsible for the development of vebreltinib in combination with an EGFR inhibitor for NSCLC in the designated territory [2][6] Product Information - Vebreltinib is a potent, small molecule, orally bioavailable, and highly selective c-MET inhibitor that targets the HGF/c-MET axis, which is crucial for tumor growth and resistance to therapies like osimertinib [3][5] - The drug has shown strong tumor inhibitory effects in various preclinical models, including human gastric, hepatic, pancreatic, and lung cancer xenografts [3] Clinical Development - Vebreltinib is currently under clinical investigation and is not approved for use in any regions outside of China, where it has received conditional approval for multiple indications [4][5] - The Phase 1/2 SPARTA global clinical trial is ongoing, assessing vebreltinib as a single-agent therapy and in combination with other novel therapies [4]