SOUTH SAN FRANCISCO - Aligos Therapeutics, Inc. (NASDAQ:ALGS), a company specializing in liver and viral disease therapies, announced today the immediate appointment of David Perry as Vice President of Business Development. Perry brings over two decades of industry experience to Aligos, having held roles in corporate strategy, business development, and investment management.
The executive team at Aligos welcomes Perry's expertise, particularly in light of the company's recent positive topline data for ALG-055009, a promising candidate in their therapeutic pipeline. Perry's appointment is seen as a strategic move to strengthen the company's business development as it aims to maximize the potential of its clinical stage drug candidates.
Perry joins Aligos from Sangamo Therapeutics, where he was Senior Director of Business Development, leading significant business strategy and partnering initiatives. His achievements include a notable licensing deal with Genentech, marking a first for Sangamo's genomic medicine platform technologies. Perry's prior roles include leadership positions at Apexigen Inc., where he was instrumental in collaboration and licensing deals that culminated in the company's acquisition by Pyxis Oncology.
Before his tenure at Apexigen, Perry was involved in corporate development at Sumitomo Chemical and began his career in healthcare investment banking at Asante Partners. He holds a B.S. in environmental engineering from Tufts University.
Aligos Therapeutics is dedicated to developing therapies for metabolic dysfunction-associated steatohepatitis (MASH) and viruses such as hepatitis B and coronaviruses. The company emphasizes a science-driven approach and extensive R&D to advance its pipeline of treatments.
The information regarding Aligos Therapeutics and the appointment of David Perry is based on a press release statement. The company cautions that statements regarding its future business plans and drug development efforts contain risks and uncertainties that could impact their outcomes. Aligos continues to provide updates on its regulatory filings and clinical trials as required by law, without any obligation to update forward-looking statements due to new information or unforeseen events.
In other recent news, Aligos Therapeutics has seen promising results from its Phase 2a HERALD study on ALG-055009, a drug intended for the treatment of metabolic-dysfunction associated steatohepatitis (MASH). The study demonstrated significant reductions in liver fat content after a 12-week treatment period. Apart from this, the company has appointed Dr. Hardean Achneck as its new Chief Medical Officer, bringing his extensive experience in hepatology and infectious diseases to Aligos' Senior Leadership Team.
Analysts from Piper Sandler and H.C. Wainwright have maintained their positive ratings on Aligos, citing the potential of ALG-000184 and ALG-055009. Aligos is also preparing for a Phase 2b trial by mid-2025 and is expected to continue releasing data at the American Association for the Study of Liver Diseases (AASLD) meeting.
These developments reflect the ongoing efforts of Aligos Therapeutics to advance its clinical programs. The forthcoming results of the Phase 2a study will provide investors with insights into the potential of ALG-055009 as a treatment option for MASH.
InvestingPro Insights
As Aligos Therapeutics (NASDAQ:ALGS) brings David Perry on board to strengthen its business development efforts, investors should consider some key financial metrics and insights from InvestingPro.
According to InvestingPro data, Aligos has a market capitalization of $53.39 million, reflecting its current position as a small-cap biopharmaceutical company. The company's revenue for the last twelve months as of Q2 2023 stood at $7.97 million, with a concerning revenue decline of 53.82% over the same period.
An InvestingPro Tip highlights that Aligos holds more cash than debt on its balance sheet, which could provide some financial flexibility as the company pursues its drug development programs. This is particularly important given another InvestingPro Tip indicating that the company is quickly burning through cash, a common scenario for biotech firms in the research and development phase.
The appointment of Perry comes at a critical time, as InvestingPro Tips also reveal that analysts anticipate a sales decline in the current year and do not expect the company to be profitable this year. These insights underscore the importance of Perry's role in potentially securing partnerships or licensing deals to bolster Aligos' financial position.
Investors should note that InvestingPro offers 12 additional tips for Aligos Therapeutics, providing a more comprehensive analysis for those looking to delve deeper into the company's prospects.
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