Aligos Therapeutics (ALGS) Q1 2026 earnings summary

Executive summary

• Focused on developing therapeutics for liver diseases and viral infections, with three clinical-stage candidates: pevifoscorvir sodium (HBV), ALG-055009 (MASH/obesity), and ALG-097558 (coronavirus).

• Pevifoscorvir sodium received FDA Fast Track Designation for chronic HBV infection; Phase 2 B-SUPREME trial ongoing with positive interim analysis and DSMB recommendation to increase sample size.

• Entered an exclusive license with Amoytop for pevifoscorvir sodium in Greater China, receiving $25M upfront and eligibility for up to $420M in milestones and royalties.

• ALG-055009 showed positive Phase 2a results in MASH, with significant liver fat reduction and favorable safety profile; funding and out-licensing options under evaluation.

• IND-enabling studies for ALG-170675 (ASO for HBV) are underway, with development costs in China funded by Amoytop.

Financial highlights

• Revenue from customers was $2.8M for Q1 2026, up from $0.3M in Q1 2025, driven by a milestone payment from Amoytop.

• Net loss for Q1 2026 was $23.0M, or $(2.21) per share basic, compared to net income of $43.1M, or $5.12 per share basic, in Q1 2025.

• Research and development expenses increased 61% year-over-year to $23.4M, mainly due to higher clinical trial costs for pevifoscorvir sodium.

• General and administrative expenses rose 27% to $6.4M, reflecting higher personnel and legal costs.

• Cash, cash equivalents, and short-term investments totaled $54.9M as of March 31, 2026.

Outlook and guidance

• Current cash and expected Amoytop upfront payment are projected to fund operations into Q4 2026.

• Additional capital will be required to continue operations beyond Q4 2026; management is actively seeking further financing.

• Topline data from the Phase 2 B-SUPREME study for pevifoscorvir sodium anticipated in 2027, with a second interim analysis for the HBeAg+ cohort expected in H2 2026.

• Long-term post-treatment data from Phase 1 study to be presented at EASL 2026 Congress.