In a significant move to advance its hepatitis B drug development program, Aligos Therapeutics (Nasdaq: ALGS) has secured approximately $105 million through a private placement financing, led by a prominent life sciences investment firm alongside other institutional investors.
Strategic Financing Structure
The private placement comprises a sophisticated mix of securities, including 2,103,307 shares of common stock (split between voting and non-voting shares), pre-funded warrants for up to 1,922,511 voting shares, and accompanying warrants to purchase up to 2,012,909 voting shares. The combined price per share and accompanying warrant is set at $26.0825, with pre-funded warrants priced at $26.0824.
The accompanying warrants, set to expire on February 13, 2032, carry an exercise price of $26.02 per share, while the pre-funded warrants feature a nominal exercise price of $0.0001 per share. Jefferies and Piper Sandler are serving as placement agents, with H.C. Wainwright & Co. acting as financial advisor.
Advancing Clinical Development
The primary focus of this capital raise is to fund the progression of ALG-000184 into Phase 2 clinical studies for chronic hepatitis B virus infection (CHB). This development represents a crucial step forward in addressing the significant unmet needs in hepatitis B treatment, a condition that continues to affect millions globally.
Financial Outlook and Corporate Strategy
The financing significantly strengthens Aligos' financial position, with the company projecting that the proceeds, combined with existing resources, will sustain operations into the second half of 2026. This extended runway provides Aligos with the necessary financial stability to advance its broader pipeline of therapeutics targeting liver and viral diseases.
Regulatory Considerations
The securities offered in this private placement have not been registered under the Securities Act of 1933. However, Aligos has granted registration rights to the purchasers and committed to filing a registration statement with the SEC for the resale of the securities issued in the placement.
This strategic financing positions Aligos to continue its mission of developing best-in-class therapies for liver and viral diseases, with a particular focus on chronic hepatitis B, metabolic dysfunction-associated steatohepatitis (MASH), and coronaviruses.
