NEW YORK–(BUSINESS WIRE)–#Aligos–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Aligos Therapeutics, Inc. (“Aligos” or the “Company”) (NASDAQ: ALGS) on behalf of Aligos stockholders. Our investigation concerns whether Aligos has violated the federal securities laws and/or engaged in other unlawful business practices.
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On or around October 15, 2020, Aligos conducted its initial public offering (“IPO”), offering 10 million shares of common stock priced at $15.00 per share. Then, on January 6, 2022, Aligos issued a press released “announc[ing] that it has halted further development of its STOPS™ drug candidate, ALG-010133, in development to address chronic hepatitis B (CHB).” Aligos stated that “[t]his decision is based on emerging data from the Phase 1 Study ALG-010133-101 that indicate that at the projected efficacious dose (400 mg, estimated to achieve liver exposures >3 x EC90 for HBsAg inhibition) there is no meaningful HBsAg reduction. Furthermore, higher doses levels (maximum feasible dose is 600 mg) that were planned to be evaluated in a subsequent cohort are very unlikely to reach the 1 log10 IU/mL HBsAg reduction level that Aligos had previously defined as necessary to advance the program.” Accordingly, “[b]ased on this information, Aligos management reviewed the data with members of the study’s Study Review Committee (SRC) and jointly concluded that these data were not sufficient to support further development of ALG-010133 and that dosing should be discontinued.”
On this news, Aligos’s stock price fell $6.02 per share, or 56.74%, to close at $4.59 per share on January 6, 2022.
If you purchased or otherwise acquired Aligos shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.