ALGS - Aligos Therapeutics in portfolio reorganization focused on NASH COVID assets
- Aligos Therapeutics ( NASDAQ: ALGS ) is rejiggering its pipeline priorities with its candidates for nonalcoholic steatohepatitis ( NASH ) and COVID-19 at the top of the list.
- The biopharma is also reducing its workforce by 10%. Since January 2022, the company has cut its staff by 25%.
- Shares are up ~4% in after-hours trading.
- Aligos will maintain its NASH research collaboration with Merck ( MRK ).
- Due to the portfolio realignment and layoffs, Aligos ( ALGS ) believes its cash runway can be extended until the end of 2024.
- The NASH candidate, ALG-055009 is in phase 1 , while the COVID-19 therapy ALG-097558 is in the preclinical stage.
- Seeking Alpha Quant Rating views Aligos ( ALGS ) as a buy with high marks for momentum, valuation, and revisions .
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Aligos Therapeutics in portfolio reorganization focused on NASH, COVID assets