The improved financials are largely driven by non-operational gains; traders should focus on upcoming clinical milestones in 2026 and 2027. The preclinical obesity data is promising but early-stage; monitor for partnership or out-licensing developments for ALG-055009.
Price Chart
Executive Summary
Aligos Therapeutics reported financial results for Q4 and full year 2025, showing improved net losses compared to the prior year due to reduced expenses and a $60.2 million gain from the change in fair value of common warrants. The company highlighted clinical progress in its HBV and obesity/MASH programs, including advancement of ALG-170675 into IND-enabling studies and preclinical data showing synergistic weight loss with ALG-055009. Cash totaled $77.8 million as of December 31, 2025, sufficient into Q3 2026.
Key Financial Metrics
Key Facts
- Net loss for FY 2025 was $24.2 million vs. $131.2 million in FY 2024, primarily due to a $60.2 million gain from warrant fair value changes.
- Cash, cash equivalents, and investments totaled $77.8 million as of December 31, 2025, up from $56.9 million a year prior.
- Pevifoscorvir sodium Phase 2 B-SUPREME study completed enrollment in HBeAg- cohort; interim analyses expected in 2026, topline data in 2027.
- ALG-170675 advanced into IND-enabling studies in partnership with Amoytop, with development costs in China funded by Amoytop.
- Preclinical data showed ALG-055009 combined with incretin agonists (semaglutide or tirzepatide) produced up to 40% body weight loss in mice, significantly higher than monotherapy.
Financial Impact
Net loss improved by $107 million YoY due to non-recurring warrant fair value gain; R&D and G&A expenses declined slightly. No revenue from collaborations in 2025.
Risk Factors
- Financial improvement is primarily due to non-recurring warrant valuation changes, not operational performance.
- No revenue from collaborations in 2025, raising concerns about near-term funding sustainability.
- Clinical programs remain in early stages with data readouts not expected until 2027.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-001340 |
| Document: f8k_030426.htm | 0001171843-26-001340 |
| Document: 0001171843-26-001340-index-headers.html | 0001171843-26-001340 |
| Document: 0001171843-26-001340-index.html | 0001171843-26-001340 |
| Document: 0001171843-26-001340.txt | 0001171843-26-001340 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 11w ago | 8-K | $5.51 $6.77 | ▲ +22.87% | ▲ +21.65% | $4.74 (−13.97%) |
Jun 26, 2026 17w ago | 8-K | $5.43 $5.85 | ▲ +7.73% | ▲ +6.35% | $4.74 (−12.71%) |
May 27, 2026 21w ago | Press Release | $5.60 $5.14 | ▼ −8.21% | ▼ −8.68% | $4.74 (−15.36%) |
Apr 16, 2026 27w ago | Press Release | $7.66 $6.13 | ▼ −19.97% | ▼ −20.96% | $4.74 (−38.12%) |
Apr 14, 2026 28w ago | Press Release | $7.42 $6.51 | ▼ −12.26% | ▼ −13.90% | $4.74 (−36.12%) |
Mar 5, 2026 33w ago | 8-K | $6.66 $7.41 | ▲ +11.26% | ▲ +13.50% | $4.74 (−28.83%) |
Mar 5, 2026 33w ago | Press Release | $6.66 $7.41 | ▲ +11.26% | ▲ +13.50% | $4.74 (−28.83%) |
Feb 28, 2026 34w ago | Institutional Cluster | $6.97 $7.03 | ▲ +0.86% | ▲ +2.07% | $4.74 (−31.95%) |
US Market Status
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