Aligos Therapeutics, Inc. reported a significant increase in revenue for the first quarter of 2026, generating $2.8 million compared to just $311,000 in the same period of 2025. This increase was primarily attributed to a milestone payment received from Amoytop Biotech Co., Ltd. as part of their collaboration agreement, which focuses on developing treatments for chronic hepatitis B virus (HBV) infection. Despite this revenue growth, the company reported a net loss of $23 million for the quarter, a stark contrast to a net income of $43 million in the first quarter of 2025, largely due to increased operating expenses and a substantial decrease in the fair value of common warrants.
Operating expenses rose to $29.8 million in Q1 2026, up from $19.6 million in the prior year, reflecting a 52% increase. Research and development costs accounted for the majority of this rise, increasing by 61% to $23.4 million, driven by the initiation of the Phase 2 B-SUPREME clinical trial for the company's lead drug candidate, pevifoscorvir sodium. General and administrative expenses also increased by 27% to $6.4 million, reflecting higher personnel and legal costs. The company’s accumulated deficit now stands at $665.2 million, indicating ongoing financial challenges as it continues to invest heavily in its drug development pipeline.
In terms of operational developments, Aligos has expanded its clinical programs, particularly for pevifoscorvir sodium, which has received Fast Track Designation from the FDA. The company is also exploring additional collaborations, as evidenced by a recent exclusive license agreement with Amoytop for the development and commercialization of pevifoscorvir sodium in Greater China, which includes an upfront payment of $25 million and potential milestone payments totaling up to $420 million. This strategic move is expected to enhance Aligos's market presence and financial stability.
As of March 31, 2026, Aligos had cash, cash equivalents, and short-term investments totaling $54.9 million, a decrease from $73.9 million at the end of 2025. The company reported a net cash outflow of $23.1 million from operating activities during the quarter, primarily due to ongoing research and development efforts. Looking ahead, Aligos anticipates that its cash reserves will be sufficient to fund operations into the fourth quarter of 2026, but it acknowledges the need for additional capital to support its ongoing clinical trials and operational expenses. The company is actively seeking funding through various avenues, including public or private equity offerings and strategic collaborations, to ensure its continued viability in the competitive biotechnology landscape.
About Aligos Therapeutics, Inc.
Aligos Therapeutics, Inc. is a clinical-stage biotechnology company developing novel therapeutics for liver diseases and viral infections, including chronic hepatitis B virus (HBV), metabolic dysfunction-associated steatohepatitis (MASH), and coronaviruses. Its pipeline features small molecule and oligonucleotide drug candidates designed to improve treatment outcomes by targeting viral lifecycles and metabolic pathways. Aligos leverages proprietary platforms, in-licensing, and internal expertise to create potentially best-in-class therapies for large unmet medical needs.
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