Aligos Therapeutics announced a private placement financing expected to generate approximately $105 million in gross proceeds. The financing involved the sale of 2,103,307 shares of common stock, pre-funded warrants to purchase up to 1,922,511 shares, and accompanying warrants to purchase up to 2,012,909 shares. The combined price per share of common stock and accompanying warrant was $26.0825.
The private placement was expected to close on February 13, 2025, subject to customary closing conditions. The net proceeds from this financing, combined with existing cash, cash equivalents, and investments, are projected to fund planned operations into the second half of 2026. This capital infusion is critical for sustaining the company's research and development efforts.
The company plans to use the proceeds to fund the continued advancement of ALG-000184 into a Phase 2 clinical study in subjects with chronic hepatitis B virus infection. This financing provides essential resources to progress its lead candidate through a pivotal stage of clinical development.
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