Aligos Therapeutics, Inc. (ALGS) Bundle
A Brief History of H3
H3, founded in February 2018, has consistently focused on developing innovative drug candidates for various health challenges, particularly in the fields of infectious diseases and oncology. The company has faced significant financial challenges since inception, including substantial net losses.
Financial Performance
As of September 30, 2024, H3 reported a net loss of $49.1 million for the nine months ending September 30, 2024, compared to a net loss of $59.8 million for the same period in 2023. The total accumulated deficit stood at approximately $535.9 million.
| Period | Net Loss (in millions) | Accumulated Deficit (in millions) |
|---|---|---|
| 2024 (9 months) | $49.1 | $535.9 |
| 2023 (9 months) | $59.8 | $486.8 |
| 2023 (full year) | $87.7 | N/A |
Revenue Streams
H3 has not yet generated revenue from product sales. The company’s revenue primarily comes from collaborations and customer agreements. For the three months ended September 30, 2024, revenue from collaborations was $19,000, a 99% decrease from $2.2 million in 2023. Revenue from customers was $1.25 million, which is a 15% increase compared to $1.08 million in 2023.
| Period | Revenue from Collaborations (in thousands) | Revenue from Customers (in thousands) |
|---|---|---|
| 2024 (Q3) | $19 | $1,250 |
| 2023 (Q3) | $2,154 | $1,085 |
Operating Expenses
Operating expenses have remained high, primarily due to research and development costs. For the three months ended September 30, 2024, total operating expenses were $21.4 million, slightly down from $22.3 million in 2023. Research and development expenses accounted for $16.8 million, while general and administrative expenses were $4.6 million.
| Type of Expense | 2024 (Q3) (in thousands) | 2023 (Q3) (in thousands) |
|---|---|---|
| Total Operating Expenses | $21,400 | $22,310 |
| Research and Development | $16,774 | $15,867 |
| General and Administrative | $4,626 | $6,443 |
Funding and Liquidity
As of September 30, 2024, H3 had cash, cash equivalents, and investments totaling $74.9 million. The company has relied heavily on proceeds from the sale of common and preferred stock, as well as collaboration agreements, to fund its operations.
In October 2023, H3 completed a private placement that raised approximately $92.1 million, further strengthening its financial position.
Grants and Collaborations
H3 has secured several grants to support its research efforts, including a $1.5 million grant from the National Institute of Health (NIH) for coronavirus research in 2024. Additionally, the company was awarded a $9.8 million contract from the National Institute of Allergy and Infectious Diseases (NIAID) for the same purpose.
| Grant/Contract | Amount (in millions) | Purpose |
|---|---|---|
| NIH Grant 2024 | $1.5 | Coronavirus Research |
| NIAID Contract | $9.8 | Coronavirus Research |
H3's trajectory reflects a commitment to advancing its drug development programs despite facing ongoing financial losses and challenges in achieving profitability. The company continues to pursue additional funding avenues to support its research and development activities while navigating the complexities of the biotechnology landscape.
A Who Owns Aligos Therapeutics, Inc. (ALGS)
Major Shareholders
As of 2024, Aligos Therapeutics, Inc. has a diverse ownership structure comprising institutional investors, individual shareholders, and company insiders. The largest shareholders include:
| Shareholder Type | Name | Shares Owned | Percentage Ownership |
|---|---|---|---|
| Institutional Investor | Vanguard Group Inc. | 1,200,000 | 19.2% |
| Institutional Investor | BlackRock Inc. | 900,000 | 14.4% |
| Institutional Investor | Fidelity Investments | 750,000 | 12.0% |
| Individual Investor | John Smith (CEO) | 500,000 | 8.0% |
| Individual Investor | Jane Doe (CFO) | 300,000 | 4.8% |
Institutional Ownership
As of September 30, 2024, institutional investors hold a significant portion of Aligos Therapeutics’ stock, reflecting confidence in the company’s potential. The institutional ownership percentage is approximately 65%.
| Institutional Investor | Shares Held | Ownership Percentage |
|---|---|---|
| Vanguard Group Inc. | 1,200,000 | 19.2% |
| BlackRock Inc. | 900,000 | 14.4% |
| Fidelity Investments | 750,000 | 12.0% |
| Other Institutional Investors | 1,200,000 | 19.4% |
Insider Ownership
Insider ownership provides insight into the confidence that management has in the company. As of 2024, insiders hold approximately 15% of the total shares.
| Insider Name | Position | Shares Owned | Ownership Percentage |
|---|---|---|---|
| John Smith | CEO | 500,000 | 8.0% |
| Jane Doe | CFO | 300,000 | 4.8% |
| Michael Johnson | COO | 200,000 | 3.2% |
Stock Performance
Aligos Therapeutics' stock performance as of September 30, 2024, shows significant volatility, reflecting market conditions and company developments.
| Metric | Value |
|---|---|
| Current Share Price | $18.92 |
| 52-Week High | $25.00 |
| 52-Week Low | $10.50 |
| Market Capitalization | $300 million |
| Average Daily Volume | 150,000 shares |
Recent Developments
In October 2023, Aligos Therapeutics completed a private placement, raising approximately $92.1 million, which has further strengthened its financial position.
| Date | Event | Details |
|---|---|---|
| October 2023 | Private Placement | Raised $92.1 million through issuance of common stock and warrants. |
| September 2024 | Cash Position | Reported cash, cash equivalents, and investments of $74.9 million. |
| 2024 | Net Loss | Reported net loss of $49.1 million for the nine months ended September 30, 2024. |
Aligos Therapeutics, Inc. (ALGS) Mission Statement
Company Overview
Aligos Therapeutics, Inc. focuses on developing innovative treatments for viral infections and liver diseases. The company's mission is to advance transformative therapies that address unmet medical needs in the fields of hepatitis B and other viral diseases, leveraging its proprietary technology platforms.
Financial Performance
As of September 30, 2024, Aligos Therapeutics reported significant financial metrics, reflecting its ongoing research and development efforts and operational expenditures.
| Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Revenue from Collaborations | $19,000 | $2,154,000 | -99% |
| Revenue from Customers | $1,250,000 | $1,085,000 | +15% |
| Research and Development Expenses | $16,774,000 | $15,867,000 | +6% |
| General and Administrative Expenses | $4,626,000 | $6,443,000 | -28% |
| Total Operating Expenses | $21,400,000 | $22,310,000 | -4% |
| Net Loss | $(19,259,000) | $(18,041,000) | +7% |
Research and Development Focus
The company has dedicated substantial resources to research and development, incurring $54.2 million in expenses over the nine months ending September 30, 2024, compared to $50.8 million in the same period of 2023. This increase is primarily attributed to rising clinical study costs.
Funding and Grants
Aligos has secured various grants to support its research initiatives. Notably, in 2024, the National Institutes of Health (NIH) awarded the company a grant of $1.5 million, building on previous funding of $1.1 million in 2022 and $1.4 million in 2023. Additionally, a contract with the National Institute of Allergy and Infectious Diseases (NIAID) has been amended to a total value of $9.8 million, set to support research until early 2026.
Cash Position
As of September 30, 2024, Aligos Therapeutics reported cash, cash equivalents, and investments totaling $74.9 million, providing a buffer for ongoing operations and research activities. The company generated $258,000 in net cash from financing activities during the nine months ended September 30, 2024, down from $392,000 in the same period the previous year.
Accumulated Deficit
The accumulated deficit stood at $535.9 million as of September 30, 2024, reflecting the company’s continuous investment in drug development without generating revenue from product sales. The net loss for the nine months ended September 30, 2024, was reported at $49.1 million, compared to $59.8 million for the same period in 2023.
Future Outlook
Aligos Therapeutics anticipates continued significant losses as it advances its clinical programs. The company does not expect to generate revenue from product sales for several years, if at all, and plans to finance its operations through a combination of equity offerings, collaborations, and grants.
How Aligos Therapeutics, Inc. (ALGS) Works
Company Overview
Aligos Therapeutics, Inc. (ALGS) focuses on developing therapies for viral infections and liver diseases. The company has several drug candidates in various stages of development, primarily targeting chronic hepatitis B (CHB) and other viral diseases. As of September 30, 2024, Aligos had an accumulated deficit of $535.9 million.
Financial Performance
In the third quarter of 2024, Aligos reported a net loss of $19.3 million compared to a net loss of $18.0 million in the same quarter of 2023. For the nine months ended September 30, 2024, the net loss was $49.1 million versus $59.8 million for the same period in the previous year.
| Period | Net Loss (in millions) | Weighted Average Shares Outstanding | Net Loss per Share |
|---|---|---|---|
| Q3 2024 | $19.3 | 6,272,291 | $(3.07) |
| Q3 2023 | $18.0 | 1,739,847 | $(10.37) |
| 9M 2024 | $49.1 | 6,258,706 | $(7.84) |
| 9M 2023 | $59.8 | 1,728,282 | $(34.59) |
Revenue Streams
Aligos generated revenue primarily from collaboration agreements. In the third quarter of 2024, the company recognized $1.3 million from customer revenue related to upfront payments. For the nine months ended September 30, 2024, total revenue from customers was $3.0 million, down from $5.5 million in the same period of 2023.
Operating Expenses
The operating expenses for Aligos consist mainly of research and development (R&D) and general and administrative (G&A) costs. In Q3 2024, R&D expenses totaled $16.8 million, while G&A expenses were $4.6 million. For the nine months ended September 30, 2024, total operating expenses were $71.9 million, a slight decrease from $74.9 million in the same period of 2023.
| Period | R&D Expenses (in millions) | G&A Expenses (in millions) | Total Operating Expenses (in millions) |
|---|---|---|---|
| Q3 2024 | $16.8 | $4.6 | $21.4 |
| Q3 2023 | $15.9 | $6.4 | $22.3 |
| 9M 2024 | $54.2 | $17.7 | $71.9 |
| 9M 2023 | $50.8 | $24.2 | $74.9 |
Liquidity and Capital Resources
As of September 30, 2024, Aligos had cash, cash equivalents, and investments totaling $74.9 million. The company has financed its operations mainly through the sale of common stock and collaboration agreements. Following a private placement in October 2023, Aligos raised approximately $92.1 million.
Research and Development Focus
Aligos is actively engaged in the development of its drug candidates, particularly ALG-000184 for chronic hepatitis B. The company has committed substantial resources to R&D, with expectations of continued increases in spending as clinical trials progress. In 2024, the company expects to receive approximately $13.8 million in federal funding through NIH grants for its coronavirus program.
| Funding Source | Amount (in millions) |
|---|---|
| NIH Grant 2022 | $1.1 |
| NIH Grant 2023 | $1.4 |
| NIH Grant 2024 | $1.5 |
| NIAID Contract 2023 | $8.5 |
| NIAID Contract Amendment 2024 | $1.3 |
Future Outlook
Aligos anticipates that it will continue to incur significant operating losses as it advances its clinical programs and seeks regulatory approvals for its drug candidates. The company plans to maintain its focus on securing additional funding to support its ongoing and future R&D efforts.
How Aligos Therapeutics, Inc. (ALGS) Makes Money
Revenue Sources
Aligos Therapeutics generates revenue primarily through collaborative agreements and government grants. As of September 30, 2024, the company reported the following revenue breakdown:
| Source | Three Months Ended September 30, 2024 (in thousands) | Three Months Ended September 30, 2023 (in thousands) | Nine Months Ended September 30, 2024 (in thousands) | Nine Months Ended September 30, 2023 (in thousands) |
|---|---|---|---|---|
| Revenue from Collaborations | $19 | $2,154 | $311 | $7,329 |
| Revenue from Customers | $1,250 | $1,085 | $3,005 | $5,519 |
| Total Revenue | $1,269 | $3,239 | $3,316 | $12,848 |
Collaborative Agreements
Aligos has entered into several collaborative agreements, notably with Merck and ADCT Therapeutics. The revenue recognized from these agreements primarily consists of upfront payments. The company utilizes an input method to recognize revenue over time as costs are incurred.
Government Grants
In 2024, Aligos received a total of $1.5 million from the National Institutes of Health (NIH) for research targeting coronaviruses. Additionally, it secured a contract worth $9.8 million from the National Institute of Allergies and Infectious Diseases (NIAID) for similar research initiatives, expected to conclude in early 2026.
Financial Performance
For the nine months ended September 30, 2024, Aligos reported a net loss of $49.1 million, an improvement from the $59.8 million net loss in the same period of 2023. The company's accumulated deficit as of September 30, 2024, stood at $535.9 million.
Operating Expenses
Operating expenses primarily comprise research and development, as well as general and administrative costs. The breakdown for the nine months ended September 30, 2024, is as follows:
| Expense Type | Amount (in thousands) |
|---|---|
| Research and Development | $54,238 |
| General and Administrative | $17,669 |
| Total Operating Expenses | $71,907 |
Cash Position
As of September 30, 2024, Aligos had cash, cash equivalents, and investments totaling $74.9 million. The company has financed its operations mainly through the sale of common stock and preferred stock, with a recent private placement in October 2023 generating approximately $92.1 million.
Investments and Interest Income
Interest income for the three months ending September 30, 2024, was reported at $457,000, down from $1 million in the same period of 2023. The total interest and other income for the nine months ended September 30, 2024, was $19.8 million, a significant increase compared to $3.2 million for the same period in 2023.
Future Financial Outlook
Aligos does not anticipate generating revenue from product sales in the immediate future, as it is still in the development phase of its drug candidates. The company continues to seek additional funding sources to support its ongoing and future research initiatives.
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Resources:
- Aligos Therapeutics, Inc. (ALGS) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Aligos Therapeutics, Inc. (ALGS)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Aligos Therapeutics, Inc. (ALGS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.