Aligos Therapeutics Reports $15.9 Million Net Loss in Q2 2025, Despite Improved Financial Position

Aligos Therapeutics, Inc. reported a net loss of $15.9 million for the second quarter of 2025, a significant decline from a net income of $5.1 million in the same period last year. For the first half of 2025, the company recorded a net income of $27.2 million, primarily due to a gain from the remeasurement of common warrants, compared to a net loss of $29.8 million for the first half of 2024. Revenue from customers decreased to $965,000 in Q2 2025 from $1.1 million in Q2 2024, reflecting the nearing completion of an agreement with Amoytop Biotech Co., Ltd. Total operating expenses for the second quarter were $19.5 million, down 29% from $27.5 million in the prior year, driven by reduced research and development costs.

The company’s financial position showed improvement, with total assets increasing to $134.7 million as of June 30, 2025, compared to $70.1 million at the end of 2024. This increase was largely attributed to a rise in short-term investments, which grew to $104.3 million from $19.9 million. Aligos also reported a decrease in total liabilities to $32.8 million from $99.1 million, primarily due to a significant reduction in the common warrants liability, which fell from $72.4 million to $9.2 million. The company’s accumulated deficit decreased to $590.8 million from $618.0 million.

Strategically, Aligos has focused on advancing its clinical pipeline, which includes drug candidates targeting chronic hepatitis B virus (HBV) infection, metabolic dysfunction-associated steatohepatitis (MASH), and coronaviruses. The company is currently conducting clinical trials for its lead candidate, ALG-000184, which has shown promising results in early studies. Additionally, Aligos completed a private investment in public equity (PIPE) offering in February 2025, raising approximately $105 million to support its ongoing research and development activities.

Operationally, Aligos has streamlined its expenses, with research and development costs decreasing by 34% in Q2 2025 compared to the previous year. The company has also seen a reduction in general and administrative expenses, which fell by 13% in the same period. As of June 30, 2025, Aligos had cash, cash equivalents, and investments totaling approximately $122.9 million, which management believes will fund operations for at least the next 12 months. The company anticipates continued investment in its clinical programs, with expectations of incurring significant losses as it progresses through its development pipeline.