Aligos Therapeutics reported a net loss of $19.3 million for the third quarter of 2024, compared to a net loss of $18.0 million for the same period in 2023. Research and development (R&D) expenses increased to $16.8 million from $15.9 million year-over-year, primarily due to increased third-party expenses for clinical trials. General and administrative (G&A) expenses decreased to $4.6 million from $6.4 million, mainly due to reduced legal expenses.
As of September 30, 2024, the company held $74.9 million in cash, cash equivalents, and investments. This cash balance is expected to fund planned operations through the end of 2025. The company continues to advance its pipeline, including ALG-000184 for chronic HBV and ALG-097558 for coronavirus infections.
The company highlighted the positive topline HERALD data for ALG-055009 in MASH subjects, which was announced earlier in the quarter. Aligos is progressing ALG-000184 towards a Phase 2 study in 2025 and expects to begin externally funded clinical studies for ALG-097558 later in 2024.
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