Aligos Therapeutics, Inc. (ALGS) 

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Aligos Therapeutics, Inc. (“Aligos” or the “Company”) (NASDAQ: ALGS). Investors who purchased Aligos shares are encouraged to obtain additional information and assist the investigation.         

 

The investigation concerns whether Aligos and certain of its officers and/or directors have violated federal securities laws.

 

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, 2021, 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, 2021.

 

If you are aware of any facts relating to this investigation or purchased Aligos shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.