10-K · March 5, 2026
Aligos is a clinical‑stage biotech focused on liver and viral diseases with three lead programs (pevifoscorvir sodium for chronic HBV, ALG‑055009 for MASH/obesity, ALG‑097558 for coronaviruses). The 10‑K emphasizes…
Earnings analysis · 10-Q
ALGS earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Aligos Therapeutics reported Q1 2026 revenue of $2,830, with a diluted EPS of -$2.21, missing estimates slightly. Operating expenses surged to $29,759, largely driven by increased research and development costs for the…
Read full summary
Aligos Therapeutics reported Q1 2026 revenue of $2,830, with a diluted EPS of -$2.21, missing estimates slightly. Operating expenses surged to $29,759, largely driven by increased research and development costs for the Phase 2 trials. Management expects to fund operations into Q4 2026, reflecting ongoing challenges and a need for additional capital.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-2.21
What stood out
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Revenue of $2,830
This represents an increase of $2.5 million from Q1 2025's $2,519.
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Operating Expenses Up 50% YoY
Operating expenses rose from $19,554 in Q1 2025 to $29,759 in Q1 2026.
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Increased R&D Spending
R&D expenses incurred $23,352, up from $14,502 in Q1 2025, driven by Phase 2 trial costs.
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Cash Expected to Fund Into Q4 2026
Management indicated current cash and expected revenues to fund operations into Q4 2026.
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No New Risk Factors Identified
Management discussed ongoing operational risks but did not identify new risk factors in the MD&A.
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Contract with Amoytop for $25M
A license agreement was concluded with Amoytop for $25 million, along with potential future milestone payments.
What to watch
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Negative Cash Flow
Q1 2026 saw net losses of $23.0 million, similar to $24.2 million in 2025.
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Dependence on Third-Party CROs
Clinical trials rely heavily on external CROs, posing risks if they fail to meet obligations.
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Potential Future Debt or Equity Dilution
Need for additional capital raises poses risk of dilution to existing shareholders.
Management's outlook
Management expects cash to fund operations into Q4 2026.
Earlier filings 4
10-Q · May 6, 2025
Aligos reported Q1 revenue of $311,000, down from $986,000 a year earlier (a decline of $675,000 or ~68.5%), while operating expenses fell to $19.6M from $23.0M. GAAP net income was $43.1M driven by a $61.494M favorable…
10-Q · August 6, 2024
Aligos reported Q2 (three months ended June 30, 2024) revenue of $1,061,000 (customers) and net income of $5.1 million (GAAP) or $0.03 per share, driven by a $16.1 million non‑cash favorable remeasurement of warrant…
10-Q · May 7, 2024
Aligos reported total revenue of $986 (amounts in the filing are stated in thousands) for Q1 2024 and a net loss of $34,863 for the quarter, driven by operating loss of $22,046 and a large non-cash remeasurement of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.