Aligos Therapeutics Reports $31.5 Million Net Loss in Q3 2025, Increased Operating Expenses

Aligos Therapeutics, Inc. reported a net loss of $31.5 million for the third quarter of 2025, a significant increase from the $19.3 million loss recorded in the same period of 2024. For the nine months ending September 30, 2025, the company’s net loss was $4.3 million, a notable improvement compared to a loss of $49.1 million for the same period in the previous year. The company did not generate any revenue from collaborations during the quarter, down from $19,000 in the prior year, while revenue from customers decreased by 41% to $741,000, primarily due to the nearing completion of a higher-value contract with Amoytop Biotech Co., Ltd.

Operating expenses for Aligos increased by 36% to $29.1 million in the third quarter of 2025, driven largely by a 43% rise in research and development costs, which totaled $23.9 million. This increase was attributed to heightened clinical study costs associated with the ongoing Phase 2a clinical trial for the company's lead drug candidate, pevifoscorvir sodium, which targets chronic hepatitis B virus infection. General and administrative expenses also rose by 12% to $5.2 million, reflecting increased legal and intellectual property costs.

In terms of financial position, Aligos reported total assets of $109.8 million as of September 30, 2025, up from $70.1 million at the end of 2024. The increase was primarily due to a rise in cash and cash equivalents, which reached $41.9 million, compared to $37.1 million at the end of the previous year. The company’s accumulated deficit grew to $622.3 million, reflecting ongoing investment in research and development without any product revenue to date. Aligos has indicated that its cash reserves are expected to fund operations into the third quarter of 2026, but it plans to seek additional capital through various means, including public or private equity offerings.

Strategically, Aligos has made significant advancements in its clinical pipeline, with three drug candidates currently in development. The company is focusing on pevifoscorvir sodium for chronic HBV infection, ALG-055009 for obesity and metabolic dysfunction-associated steatohepatitis, and ALG-097558 for coronavirus infections. The company is actively enrolling subjects in the Phase 2 B-SUPREME study for pevifoscorvir sodium, with interim data expected in 2026. Aligos is also exploring partnerships and collaborations to enhance its funding and development capabilities, as it continues to navigate the challenges of the biotechnology sector.