I'm LongbridgeAI, I can summarize articles.Aligos reported $2.186 million in revenue for 2025, a 39% decrease from the previous year, primarily due to the end of a collaboration with Amoytop and changes following a Merck agreement. The net loss improved to $(24.193) million, with a loss per share of $(2.45). A $60.184 million unrealized gain from common warrants helped reduce pre-tax losses. The company expects cash to fund operations into Q3 2026 but will need additional capital to sustain R&D programs. Key pipeline advancements include progress in clinical studies for pevifoscorvir sodium and ALG-055009.
Aligos reported $2.186 million in revenue for the year and a net loss per share of $(2.45), with revenue down 39% versus the prior year largely due to the end of a collaboration portion with Amoytop and subsequent changes following a Merck agreement. The company posted a net loss of $(24.193) million (an 82% improvement year-over-year) and a loss from operations of $(87.985) million; a $60.184 million unrealized gain from revaluation of 2023 common warrants materially reduced pre-tax loss. Cash is expected to fund operations into Q3 2026, creating near-term financing needs to sustain R&D programs.
Financial Highlights
- Revenue from customers: $2.186 million, down 39% versus prior year.
- Operating income (loss): Loss from operations of $(87.985) million.
- Net income (net loss): Net loss of $(24.193) million, improved 82% versus prior year.
- Net income per share: Net loss per share, basic and diluted: $(2.45).
- Change in fair value of 2023 Common Warrants: $60.184 million gain that materially improved pre-tax loss.
Business Highlights
- Pipeline progress: Advanced pevifoscorvir sodium through 96-week Phase 1 and initiated the Phase 2 B-SUPREME study, with interim analyses planned in 2026.
- Clinical milestones: ALG-055009 met the Phase 2a MRI-PDFF primary endpoint with significant liver fat reductions; preclinical data showed potential weight-loss synergy in combination studies.
- Revenue mix shift: Customer collaboration revenue fell roughly 39% in 2025 after the Amoytop collaboration portion ended; collaboration revenue ceased following the Merck agreement.
- Operational funding & grants: Received approximately $15.3 million in NIH/NIAID funding for coronavirus programs and is seeking external or public funding to support development of ALG-097558.
- Liquidity and runway: Cash is expected to fund operations into Q3 2026; the company will need to secure additional capital to avoid curtailing R&D activities.
Original SEC Filing: Aligos Therapeutics, Inc. [ ALGS ] - 10-K - Mar. 05, 2026