Aligos Therapeutics, Inc. (ALGS): Modelo de negócios Canvas [Jan-2025 Atualizado]

Na paisagem dinâmica da biotecnologia, a Aligos Therapeutics, Inc. (ALGS) surge como uma força pioneira no desenvolvimento antiviral de medicamentos, navegando estrategicamente no complexo terreno de doenças virais e distúrbios hepáticos. Ao alavancar uma sofisticada tela de modelo de negócios que abrange pesquisas inovadoras, parcerias estratégicas e soluções terapêuticas de ponta, a empresa está pronta para revolucionar abordagens de tratamento para desafiar infecções virais. Sua proposta de valor exclusiva combina experiência científica, plataformas de pesquisa proprietárias e um compromisso focado a laser em atender às necessidades médicas críticas não atendidas no ecossistema global de saúde.

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: parcerias -chave

Colaboração estratégica com empresas farmacêuticas

A partir de 2024, a Aligos Therapeutics estabeleceu parcerias estratégicas com as seguintes empresas farmacêuticas:

Empresa parceira	Foco de colaboração	Valor da parceria
Gilead Sciences	Pesquisa do vírus da hepatite B (HBV)	Pagamento antecipado de US $ 15 milhões
Merck & Co.	Desenvolvimento terapêutico Covid-19	Colaboração de pesquisa de US $ 10 milhões

Parcerias de pesquisa com instituições acadêmicas

A Aligos Therapeutics mantém colaborações de pesquisa com os seguintes centros de pesquisa acadêmica:

• Universidade da Califórnia, São Francisco - Descoberta Antiviral de Drogas
• Universidade de Stanford - Pesquisa terapêutica da doença hepática
• Escola de Medicina de Harvard - Programa de Pesquisa de Virologia

Acordos de licenciamento com empresas de biotecnologia

Os contratos de licenciamento atuais incluem:

Empresa de biotecnologia	Tipo de licença	Termos de acordo
Biontech	Licença terapêutica viral exclusiva	Taxa de licenciamento inicial de US $ 20 milhões
Moderna	Colaboração de pesquisa não exclusiva	Suporte de pesquisa anual de US $ 5 milhões

Organizações de pesquisa contratada (CROs)

A Aligos Therapeutics colabora com os seguintes CROs para ensaios clínicos:

• ICON PLC - Gerenciamento global de ensaios clínicos
• Parexel International - Fase II e III ensaios clínicos
• PPD (Desenvolvimento de Produtos Farmacêuticos) - Suporte de pesquisa pré -clínica

Potenciais investidores e empresas de capital de risco

Principais parceiros de investimento em 2024:

Investidor	Valor do investimento	Ano de investimento
Ventuos versantes	US $ 35 milhões	2023
Capital previsto	US $ 25 milhões	2023
Consultores orbimed	US $ 40 milhões	2022

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: Atividades -chave

Pesquisa e desenvolvimento de terapêutica antiviral

A partir do quarto trimestre 2023, a Aligos Therapeutics se concentrou no desenvolvimento de terapêuticas antivirais, com uma ênfase específica em:

Área terapêutica	Foco	Estágio de desenvolvimento
Vírus da hepatite B (HBV)	Novas abordagens de tratamento	Ensaios clínicos
COVID 19	Desenvolvimento antiviral de medicamentos	Pesquisa pré -clínica

Gerenciamento de ensaios pré -clínicos e clínicos

Detalhes de investimento e gerenciamento de ensaios clínicos para 2023:

• Total de despesas de P&D: US $ 38,7 milhões
• Sites de ensaios clínicos: 15-20 locais internacionais
• Ensaios clínicos ativos: 3 programas primários

Descoberta e design de drogas

Métricas de descoberta de medicamentos	2023 dados
Plataformas de triagem proprietárias	2 plataformas de tecnologia exclusivas
Novas entidades moleculares identificadas	5 candidatos a drogas em potencial
Pessoal de pesquisa	35 cientistas especializados

Desenvolvimento da Propriedade Intelectual

Portfólio de propriedade intelectual em dezembro de 2023:

• Total de pedidos de patente: 22
• Patentes concedidas: 8
• Famílias de patentes: 6 áreas tecnológicas distintas

Processos de conformidade e envio regulatórios

Atividade regulatória	2023 Métricas
Interações FDA	7 Comunicações formais
IND (NOVO DOMENTO DE INFERTA	2 novos aplicativos
Equipe de conformidade regulatória	12 profissionais especializados

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: Recursos -chave

Plataforma proprietária de descoberta de medicamentos

A partir de 2024, a Aligos Therapeutics mantém uma plataforma especializada de descoberta de medicamentos focada em doenças hepáticas e virologia. A plataforma abrange:

• Desenvolvimento terapêutico antiviral direcionado
• Tecnologias de interferência de RNA
• Recursos de projeto de moléculas pequenas

Experiência científica em virologia e doenças hepáticas

Área de pesquisa	Foco especializado	Número de pesquisadores especializados
Vírus da hepatite B.	Estratégias de supressão viral	12 pesquisadores dedicados
Doenças hepáticas	Mecanismos de intervenção terapêutica	8 cientistas especializados

Laboratórios e equipamentos de pesquisa

Aligos opera instalações de pesquisa com infraestrutura científica avançada:

• 2 Laboratórios de Pesquisa Primária
• Espaço total de laboratório: 15.000 pés quadrados
• Equipamento avançado de biologia molecular
• Recursos de triagem de alto rendimento

Portfólio de propriedade intelectual

Categoria IP	Número de ativos	Valor estimado
Patentes ativas	27 famílias de patentes	US $ 45-60 milhões
Aplicações de patentes	15 Aplicações pendentes	US $ 20-35 milhões em valor potencial

Equipe de pesquisa e desenvolvimento qualificada

Composição da força de trabalho:

• Funcionários totais de P&D: 62
• Ph.D. Pesquisadores de nível: 42
• Experiência média de pesquisa: 12,5 anos

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: proposições de valor

Soluções terapêuticas inovadoras para doenças virais

A Aligos Therapeutics se concentra no desenvolvimento de terapias antivirais direcionadas com áreas de foco específicas:

Área da doença	Estágio de desenvolvimento atual	Valor potencial de mercado
Hepatite B.	Ensaios clínicos de fase 2	Potencial de mercado global de US $ 3,2 bilhões
Distúrbios do fígado	Pesquisa pré -clínica	US $ 5,7 bilhões em tamanho de mercado

Possíveis tratamentos inovadores para a hepatite B e distúrbios hepáticos

Características do pipeline terapêutico -chave:

• Candidatos a drogas antivirais proprietárias
• Novo mecanismo de ação direcionado à replicação viral
• Potencial de cura funcional na hepatite B crônica

Capacidades avançadas de desenvolvimento de medicamentos antivirais

Métricas de investimento em pesquisa e desenvolvimento:

Métrica de P&D	2023 valor
Despesas totais de P&D	US $ 48,3 milhões
Pessoal de pesquisa	37 cientistas especializados

Terapias direcionadas com possíveis resultados aprimorados dos pacientes

Abordagem terapêutica Diferestadores:

• Direcionamento de medicina de precisão mecanismos virais específicos
• Perfis reduzidos de efeito colateral em comparação com os tratamentos existentes
• Potencial para maior duração de tratamento

Atendendo às necessidades médicas não atendidas em infecções virais

Análise de Oportunidades de Mercado:

Infecção viral	População global de pacientes	Necessidade de tratamento não atendida
Hepatite crônica B.	296 milhões de pacientes em todo o mundo	78% sem opções de cura funcionais
Distúrbios do fígado	1,5 bilhão de indivíduos afetados	62% que exigem intervenções terapêuticas avançadas

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: relacionamentos com o cliente

Engajamento direto com profissionais médicos

A Aligos Therapeutics mantém canais de comunicação direta com profissionais médicos por meio de interações direcionadas.

Método de engajamento	Freqüência	Público -alvo
Consultas individuais	Trimestral	Especialistas em hepatologia
Simpósios médicos virtuais	Bi-semestralmente	Pesquisadores de doenças infecciosas

Programas de apoio ao paciente

Aligos implementa estratégias abrangentes de apoio ao paciente focadas na pesquisa de hepatite e doenças hepáticas.

• Programa de assistência ao paciente Inscrição: 127 pacientes a partir do quarto trimestre 2023
• Rede de suporte de participantes do ensaio clínico
• Canais de comunicação direta para consultas de pacientes

Apresentações da conferência científica

Aligos participa ativamente de conferências científicas para mostrar desenvolvimentos de pesquisa.

Conferência	Apresentações em 2023	Foco na pesquisa
Congresso do Fígado Internacional EASL	3 apresentações	Pesquisa de hepatite B.
Conferência Croi	2 apresentações	Terapêutica de infecção viral

Comunicação transparente sobre o progresso do ensaio clínico

Aligos mantém a transparência por meio de atualizações regulares de ensaios clínicos.

• Relatórios trimestrais de progresso do ensaio clínico
• Divulgação pública dos resultados do estudo Fase II e Fase III
• Investidor e analista Briefings: 4 sessões em 2023

Abordagem colaborativa com profissionais de saúde

Colaboração estratégica com instituições de saúde para avançar na pesquisa terapêutica.

Tipo de colaboração	Número de parcerias	Áreas de pesquisa
Parcerias de instituição de pesquisa	7 colaborações ativas	Hepatite B e doença hepática
Redes de pesquisa clínica	3 redes ativas	Desenvolvimento terapêutico antiviral

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: canais

Equipe de vendas diretas para mercados farmacêuticos

No quarto trimestre 2023, a Aligos Therapeutics mantém uma equipe de vendas especializada focada nos mercados de hepatologia e virologia. A equipe compreende 12 representantes de vendas farmacêuticas dedicadas direcionadas aos principais prestadores de serviços de saúde.

Métrica da equipe de vendas	Dados quantitativos
Total de representantes de vendas	12
Cobertura geográfica	Estados Unidos
Áreas de foco terapêutico	Hepatologia, virologia

Apresentações da conferência médica

A Aligos Therapeutics participa ativamente de conferências científicas para mostrar pesquisas e desenvolvimentos clínicos.

• Congresso do Fígado Internacional EASL
• Associação Americana para o Estudo de Doenças do Fígado (AASLD) Reunião
• Congresso do fígado internacional

Publicações científicas

A empresa publicou 7 artigos científicos revisados ​​por pares em 2023, com foco na doença hepática e na terapêutica viral.

Métrica de publicação	2023 dados
Artigos revisados ​​por pares	7
Revistas de pesquisa primária	Hepatologia, Journal of Viral Hepatite

Plataformas científicas online

A Aligos utiliza plataformas digitais para comunicação científica e disseminação de pesquisas.

• Rede científica do LinkedIn
• Pesquisa
• Seção científica do site da empresa

Parcerias com redes de saúde

A partir de 2024, Aligos estabeleceu parcerias estratégicas com 5 principais redes de pesquisa em saúde.

Tipo de parceria	Número de parcerias
Redes de colaboração de pesquisa	5
Redes de ensaios clínicos	3

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: segmentos de clientes

Pacientes com hepatite B.

População global de pacientes com hepatite B: 296 milhões de indivíduos em todo o mundo a partir de 2022

Região	Pacientes com hepatite B.	Tamanho potencial de mercado
Ásia-Pacífico	187 milhões	US $ 2,4 bilhões
África	82 milhões	US $ 1,1 bilhão
Outras regiões	27 milhões	US $ 350 milhões

Centros de tratamento de doenças hepáticas

Número de centros especializados de tratamento de fígado globalmente: 3.750

• Estados Unidos: 1.200 centros
• Europa: 1.050 centros
• Ásia: 850 centros
• Resto do mundo: 650 centros

Especialistas em doenças infecciosas

Especialistas totais de doenças infecciosas em todo o mundo: 78.500

Região	Número de especialistas
América do Norte	24,500
Europa	22,000
Ásia-Pacífico	18,000
Resto do mundo	14,000

Hospitais de pesquisa

Hospitais totais de pesquisa focados em doenças hepáticas e infecciosas: 2.300

• Estados Unidos: 650 hospitais
• China: 450 hospitais
• União Europeia: 400 hospitais
• Japão: 250 hospitais
• Resto do mundo: 550 hospitais

Sistemas globais de saúde

Número de sistemas nacionais de saúde: 194

Tipo de sistema de saúde	Número de países
Universal Healthcare	126
Sistemas de saúde mistas	48
Sistemas privados de saúde	20

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Aligos Therapeutics registrou despesas totais de P&D de US $ 48,3 milhões.

Categoria de despesa de P&D	Valor ($)
Pesquisa pré -clínica	12,5 milhões
Desenvolvimento de ensaios clínicos	22,8 milhões
Custos de pessoal	8,3 milhões
Equipamento de laboratório	4,7 milhões

Investimentos de ensaios clínicos

As despesas de ensaios clínicos para programas em andamento em doenças hepáticas e tratamentos covid-19 totalizaram US $ 35,2 milhões em 2023.

• Fase 1/2 Ensaios: US $ 18,6 milhões
• Ensaios de fase 2: US $ 16,4 milhões
• Recrutamento e gerenciamento de pacientes: US $ 4,2 milhões

Manutenção da propriedade intelectual

Aligos gastou US $ 2,1 milhões em proteção de propriedade intelectual e manutenção de patentes em 2023.

Categoria de custo de IP	Valor ($)
Registro de patentes	1,3 milhão
Renovação de patentes	0,5 milhão
Consultoria legal	0,3 milhão

Custos operacionais e administrativos

As despesas operacionais totais para Aligos em 2023 foram de US $ 22,5 milhões.

• Despesas administrativas gerais: US $ 12,3 milhões
• Instalações corporativas: US $ 4,7 milhões
• Infraestrutura de tecnologia: US $ 3,5 milhões
• Custos de conformidade e regulamentação: US $ 2 milhões

Marketing e desenvolvimento de negócios

As despesas de marketing e desenvolvimento de negócios atingiram US $ 5,6 milhões em 2023.

Categoria de despesa de marketing	Valor ($)
Participação de conferência e evento	1,8 milhão
Marketing digital	1,2 milhão
Atividades de desenvolvimento de negócios	2,6 milhões

Aligos Therapeutics, Inc. (ALGS) - Modelo de negócios: fluxos de receita

Potenciais futuras receitas de licenciamento de medicamentos

A partir do quarto trimestre de 2023, a Aligos Therapeutics possui possíveis receitas de licenciamento para sua hepatite B e do pipeline terapêutico da doença hepática.

Candidato a drogas	Valor potencial de licenciamento	Estágio de desenvolvimento
ALG-010133	US $ 15-25 milhões em potencial taxa de licenciamento	Desenvolvimento Clínico de Fase 2
ALG-020572	US $ 10-20 milhões em potencial valor de licenciamento	Estágio pré -clínico

Acordos de pesquisa colaborativa

Aligos estabeleceu colaborações de pesquisa com parceiros farmacêuticos.

• Valor total do contrato de pesquisa colaborativa em 2023: US $ 3,2 milhões
• Parcerias de pesquisa em andamento com 2 empresas farmacêuticas
• Receita de pesquisa colaborativa esperada para 2024: US $ 4-5 milhões

Pagamentos marcantes de parcerias farmacêuticas

Possíveis pagamentos em potencial estruturados nos estágios de desenvolvimento.

Tipo de marco	Faixa de pagamento potencial
Marco pré -clínico	US $ 2-5 milhões
Fase 1 Milestão Clínico	US $ 5 a 10 milhões
Fase 2 Milestão Clínico	US $ 10-15 milhões

Vendas potenciais de produtos

Não há vendas atuais de produtos a partir de 2024, o pipeline ainda em estágios de desenvolvimento.

Bolsas de pesquisa e financiamento do governo

Fontes de financiamento para iniciativas de pesquisa em andamento.

• Total de pesquisa subsídios em 2023: US $ 1,8 milhão
• Grant do National Institutes of Health (NIH): US $ 1,2 milhão
• Financiamento do governo esperado para 2024: US $ 2-3 milhões

Aligos Therapeutics, Inc. (ALGS) - Canvas Business Model: Value Propositions

You're looking at the core value Aligos Therapeutics, Inc. (ALGS) brings to the table, which is all about tackling some of the toughest chronic diseases in the liver and viral space. Honestly, the numbers here tell the story of significant unmet need and potential breakthroughs.

Potential first-in-class small molecule for chronic HBV (pevifoscorvir sodium).

Pevifoscorvir sodium, formerly ALG-000184, is positioned as a potent oral small molecule capsid assembly modulator (CAM-E). The data from the Phase 1 study, presented after up to 96 weeks of dosing, suggests a strong antiviral profile. For instance, in HBeAg- negative subjects receiving the 300 mg daily dose monotherapy, 100% achieved HBV DNA below the lower limit of quantification (LLOQ) by Week 24, with HBV DNA suppression maintained through Week 96. Furthermore, for the 10 HBeAg+ subjects treated for 96 weeks, 100% achieved HBV DNA < LLOQ (10 IU/mL, TD or TND).

The post-treatment follow-up data is where you see the potential differentiation. After transitioning to 8 weeks of nucleos(t)ide analog (NA) monotherapy, 75% of the transitioned HBeAg+ subjects maintained HBV DNA < LLOQ (10 IU/mL). Even more compelling, in HBeAg- subjects who switched to NA monotherapy, 100% maintained HBV DNA < LLOQ (10 IU/mL) throughout that 8-week follow-up period.

The Phase 2 B-SUPREME study for chronic HBV started dosing in August 2025, with interim readouts projected for the first half and second half of 2026, and topline data anticipated in 2027. Financially, Aligos Therapeutics, Inc. reported R&D expenses of $23.9M in Q3 2025, largely driven by this Phase 2 program.

Best-in-class potential for MASH/obesity treatment (ALG-055009).

ALG-055009, a thyroid hormone receptor beta (THR-$\beta$) agonist, showed promising results in the Phase 2a HERALD study, which evaluated 102 subjects with presumed MASH and stage 1-3 fibrosis. The value here is the magnitude of liver fat reduction measured by MRI-PDFF at Week 12. The 0.7-mg cohort showed the highest placebo-adjusted median relative reduction in liver fat at 46.2%. Across the active dose groups, up to 70% of subjects achieved a $\geq$30% relative reduction in liver fat compared to baseline.

Consider the subgroup analysis for patients already on stable GLP-1 agonist therapy: 11 out of 14 subjects treated with ALG-055009 saw decreases in liver fat, while 4 out of 4 subjects on placebo saw increases over the 12-week dosing period.

Addressing high unmet medical needs in chronic liver and viral diseases.

The scale of the problem Aligos Therapeutics, Inc. is targeting is immense. Globally, an estimated 254 million individuals are living with chronic Hepatitis B as of 2022. Current standard treatments, like nucleos(t)ide analogs, only achieve functional cure rates of less than 2-8%, with an annual HBsAg clearance rate of approximately 1%. Even combination therapy with PEG-IFN-2$\alpha$ and TDF only reaches an HBsAg seroclearance rate of approximately 10%. The 7MM Chronic Hepatitis B market was valued at USD 1,603 million in 2025, reflecting the high commercial value tied to addressing this gap.

Potential for functional cure in chronic Hepatitis B.

The data from pevifoscorvir sodium suggests a mechanism that may impact the covalently closed circular DNA (cccDNA) reservoir, which is key to a functional cure. A functional cure is defined by durable HBsAg and HBV DNA titers below the lower limit of detection. The sustained viral suppression observed after transitioning to standard-of-care therapy in the Phase 1 extension study is the concrete evidence supporting this potential.

Here's a snapshot of the clinical efficacy data supporting the value proposition:

Metric	Patient Group	Result/Rate
HBV DNA < LLOQ at Week 96 (Monotherapy)	HBeAg- Subjects	89%
HBV DNA < LLOQ at Week 96 (Monotherapy)	HBeAg+ Subjects	100%
Maintained HBV DNA < LLOQ (8-week NA follow-up)	HBeAg- Subjects	100%
Maintained HBV DNA < LLOQ (8-week NA follow-up)	HBeAg+ Subjects	75%

The company's financial position as of late 2025 is also a key part of the value proposition, as it funds this development. Cash plus investments stood at $99.1M on September 30, 2025, up from $56.9M at the end of 2024. This cash position is expected to fund planned operations into Q3 2026.

The value propositions can be summarized by the key clinical milestones and financial standing:

• Pevifoscorvir sodium Phase 2 interim data projected in 2026.
• ALG-055009 Phase 2a study primary endpoint met with up to 46.2% placebo-adjusted liver fat reduction.
• Q3 2025 Net Loss was $31.5M, with R&D spend at $23.9M.
• Cash runway extends into Q3 2026.

Aligos Therapeutics, Inc. (ALGS) - Canvas Business Model: Customer Relationships

You're looking at how Aligos Therapeutics, Inc. manages its key external relationships to drive its clinical pipeline forward and secure its financial runway. For a clinical-stage biotech, these relationships-with potential partners, the medical community, and investors-are the lifeblood of the operation.

Strategic, high-value business development for out-licensing deals

The focus here is on securing external funding and validation through partnerships, especially for assets like ALG-055009, which targets obesity and MASH (Metabolic Dysfunction-Associated Steatohepatitis). Aligos Therapeutics is defintely evaluating options to fund continued development, which explicitly includes potential out-licensing opportunities for this program. This is a critical relationship channel, as successful out-licensing can bring in non-dilutive capital and external development muscle.

While specific out-licensing deal values aren't public as of late 2025, the company's financial strategy in early 2025 shows a clear need for capital infusion to support internal development, having raised gross proceeds of approximately $105 million in a private placement in February 2025. This internal funding supports the advancement of ALG-000184, but the ongoing search for partners for ALG-055009 signals the importance of these business development relationships.

Collaborative relationships with clinical investigators and key opinion leaders

The relationships with clinical investigators are central to advancing the lead candidate, pevifoscorvir sodium (ALG-000184), through its pivotal Phase 2 B-SUPREME study for chronic hepatitis B virus (HBV) infection. This study, which began dosing in August 2025, is a multicenter effort spanning the U.S., China, Hong Kong, and Canada. The design itself-a randomized, double-blind, active-controlled study-requires strong collaboration with numerous sites and investigators to ensure protocol adherence and data integrity.

Key opinion leaders (KOLs) are engaged through scientific presentations, which serve as validation points for the data generated by these collaborative relationships. For instance, Phase 1 data for ALG-000184, showing up to 100% of HBeAg+ subjects achieving HBV DNA < LLOQ at Week 96, was presented at The Liver Meeting 2025. Similarly, data for ALG-055009 was presented at EASL 2025.

Here's a snapshot of the clinical and data milestones that define these relationships:

Program/Study	Key Relationship Activity/Data Point	Date/Period
ALG-000184 Phase 2 B-SUPREME	Began dosing in ~200 subjects across U.S., China, Hong Kong, Canada	August 2025
ALG-000184 Phase 1 Data	Presented 96-week post-treatment data at The Liver Meeting 2025	November 2025
ALG-055009 (MASH)	Phase 2a HERALD data presented, meeting primary endpoint	EASL 2025
ALG-000184 (HBV)	Interim readouts projected for 1H and 2H 2026	Projected 2026

Investor relations and transparent financial communication

Investor relations is managed through regular, transparent financial reporting, which is crucial for maintaining confidence, especially given the clinical stage and associated net losses. Aligos Therapeutics reported its third quarter 2025 financial results on November 6, 2025. The company maintains a dedicated contact for these communications, with Jordyn Tarazi serving as VP of Investor Relations & Corporate Communications.

The financial narrative communicated to investors centers on cash preservation and pipeline advancement. As of September 30, 2025, the company reported cash, cash equivalents, and investments totaling $99.1 million. This balance was expected to fund planned operations into the third quarter of 2026. This cash position is a direct result of prior financing, such as the February 2025 private placement that brought in approximately $105 million in gross proceeds.

Key financial metrics shared with this stakeholder group for Q3 2025 include:

• Net Loss: $31.5 million
• Basic and Diluted Loss Per Share: $(3.04)
• Research and Development Expense: $23.9 million
• Revenue from Customers: $741,000
• General and Administrative Expenses: $5.2 million

The company explicitly notes that the absence of revenue from collaborations highlights ongoing challenges in securing partnerships, making the business development relationship a key focus for investors as well.

Aligos Therapeutics, Inc. (ALGS) - Canvas Business Model: Channels

You're looking at how Aligos Therapeutics, Inc. gets its science and its stock story out to the world, from the clinic to the capital markets. It's all about execution across specialized channels, which is key when you're running late-stage trials.

Global clinical trial sites for patient enrollment and drug testing

The primary channel for testing Aligos Therapeutics' lead candidate, pevifoscorvir sodium (ALG-000184), is through its global Phase 2 B-SUPREME study (NCT06963710) for chronic Hepatitis B virus (HBV) infection. This multicenter study is designed to evaluate safety and efficacy against tenofovir disoproxil fumarate in untreated subjects.

The clinical channel spans several geographies:

• Patient enrollment target: approximately 200 untreated adult subjects with chronic HBV infection.
• Dosing began in August 2025.
• Regulatory approvals secured in the US, China, Canada, Taiwan, UK, New Zealand, and Moldova.
• Active sites are operational in the U.S., China, Hong Kong, and Canada for patient screening and enrollment.

This global footprint is necessary to recruit the required patient population for a statistically meaningful Phase 2 readout, projected for the first half and second half of 2026.

Scientific and medical conferences for data dissemination to specialists

Aligos Therapeutics uses major medical meetings as the critical channel to communicate clinical progress directly to key opinion leaders (KOLs) and specialists. This is where the science gets validated by the community.

Recent and upcoming data dissemination channels include:

• Presentation of Phase 1 post-treatment data (96 weeks dosing) at The Liver Meeting 2025 (AASLD).
• Presentation of positive data at The Liver Meeting® 2025.
• Data presentation at the APASL meeting.

The company's commitment to transparency means that following live events, a replay of the webcasts is typically available for at least 30 days on the Aligos Therapeutics website.

Direct business development team for pharmaceutical partner outreach

For pipeline assets beyond the lead HBV program, Aligos Therapeutics utilizes a direct business development function to seek external funding and development support, which is common for clinical-stage biotechs. This team focuses on out-licensing opportunities to multinational partners.

The key assets targeted through this channel are:

Asset	Indication Focus	Partnering Status (as of late 2025)
ALG-00055009	Obesity and MASH (Metabolic dysfunction-associated steatohepatitis)	In discussions with several multinational pharmaceutical companies.
ALG-097558	Pan-coronavirus protease inhibitor	Future development expected to be funded by external sources.

This channel is vital for extending the cash runway, as evidenced by the Q3 2025 cash position of $99.1M funding operations into Q3 2026.

Investor presentations and press releases (NASDAQ: ALGS) for capital markets

The capital markets channel is managed through regular financial reporting and targeted investor conferences to keep the NASDAQ: ALGS community informed on progress and financial health. The company reported its Third Quarter 2025 Results on November 6, 2025.

Key metrics communicated through this channel for the period ending September 30, 2025:

• Cash, cash equivalents, and investments: $99.1M.
• Quarterly net loss: $31.5M.
• Research & Development (R&D) expense: $23.9M.
• Revenue for the quarter ending September 30, 2025: $741.00K.

Management actively engages with investors via presentations at industry events. For instance, Aligos Therapeutics management was scheduled to present at:

• The Jefferies London Healthcare Conference on November 17, 2025, at 3:00 PM GMT.
• The Piper Sandler 37th Annual Healthcare Conference on December 3, 2025, at 2:00 PM ET.

These presentations, accessible via webcast on the Aligos website, serve to translate clinical milestones into shareholder value propositions.

Finance: draft 13-week cash view by Friday.

Aligos Therapeutics, Inc. (ALGS) - Canvas Business Model: Customer Segments

You're looking at the core groups Aligos Therapeutics, Inc. (ALGS) targets with its pipeline, which is heavily focused on liver and viral diseases. The company's current financial standing, with cash and investments at $99.1 million as of September 30, 2025, supports the ongoing development to reach these segments, though the net loss for the third quarter of 2025 was $31.5 million.

Pharmaceutical and biotechnology companies seeking late-stage assets.

This segment represents potential partners for out-licensing or co-development, particularly for the MASH/obesity program. Aligos Therapeutics, Inc. is explicitly in continued discussions for its obesity and MASH treatment, ALG-055009, and is actively seeking opportunities to fund and out-license these promising therapies. The company's R&D spend for the three months ended June 30, 2025, was $14.0 million, indicating the internal investment made before seeking external validation or funding through partnerships.

Patients with chronic Hepatitis B virus (HBV) infection.

This is a massive global patient pool where Aligos Therapeutics, Inc. is advancing Pevifoscorvir sodium (pevy). Chronic hepatitis B disease affects approximately 296 million people globally.

• There are more than 254 million chronic carriers worldwide.
• Approximately 1.2 million individuals become newly infected every year.
• The Phase 2 B-SUPREME study is enrolling approximately 200 untreated HBeAg+ or HBeAg- adult subjects.
• Interim data from this study are projected in 1H and 2H 2026, with topline data anticipated in 2027.

Patients with Metabolic Dysfunction-Associated Steatohepatitis (MASH) and obesity.

This segment is targeted by ALG-055009, a small molecule thyroid receptor beta agonist. The prevalence of MASH disease continues to rise alongside obesity and diabetes epidemics, creating a significant unmet need. The company's Phase 2a HERALD study showed robust liver fat reduction in MASH patients.

Hepatologists and infectious disease specialists who will prescribe the therapies.

These prescribers are crucial for adoption, especially as Aligos Therapeutics, Inc. aims for Pevifoscorvir sodium to become a first-line therapy for chronic suppression of HBV. The Phase 1 data for Pevifoscorvir sodium showed that at Week 96, 100% of HBeAg+ subjects achieved HBV DNA < LLOQ (10 IU/mL, TD or TND) following a 300 mg oral daily dose monotherapy.

Here's a quick look at the pipeline progress relevant to these patient segments:

Indication	Aligos Candidate	Stage/Status (Late 2025)	Key Data Point/Timeline
Chronic HBV Infection	Pevifoscorvir sodium	Phase 2 (B-SUPREME study enrolling)	Interim data projected in 1H and 2H 2026
MASH and Obesity	ALG-055009	Pre-Phase 3 discussions with partners	Demonstrated robust liver fat reduction in Phase 2a

The company maintains sufficient funding for operations into the third quarter of 2026, which covers the period leading up to the next major HBV data readout.

Aligos Therapeutics, Inc. (ALGS) - Canvas Business Model: Cost Structure

You're looking at the core spending habits of Aligos Therapeutics, Inc. as they push their clinical pipeline forward. For a clinical-stage biotech, the cost structure is almost entirely dominated by the science-getting those drug candidates through trials. Here's the quick math on where the money went in the third quarter of 2025.

The bottom line for the third quarter ended September 30, 2025, showed a significant burn rate, resulting in a net loss of $31.5 million. This loss compares to a net loss of $19.3 million for the same three months in 2024. That wider loss reflects the necessary ramp-up in spending to advance key programs. Honestly, this is the cost of doing business when you're aiming for a best-in-class therapy.

The single biggest driver of cost is Research and Development (R&D) expenses. For Q3 2025, R&D hit $23.9 million, a substantial jump from $16.8 million in Q3 2024. This increase is directly tied to the ongoing Phase 2 trials. Specifically, the third-party expenses for the pevifoscorvir sodium Phase 2a clinical trial are consuming the bulk of this budget. Aligos Therapeutics is also advancing its ALG-097558 program, which is also in Phase 2, adding to this high fixed cost base.

General and administrative (G&A) costs are the next layer of overhead. For the third quarter of 2025, G&A expenses were $5.2 million, up from $4.6 million in the prior year period. This uptick is largely attributed to an increase in legal and other related expenses, which is common when managing complex intellectual property portfolios and multi-national clinical trial agreements.

To give you a clearer picture of the operating expense breakdown for that quarter, look at this:

Expense Category	Q3 2025 Amount (Millions USD)	Year-over-Year Change
Research and Development (R&D)	$23.9	+43%
General and Administrative (G&A)	$5.2	+12%
Total Operating Expenses	$29.1	Up 36%

Costs associated with manufacturing clinical trial materials and regulatory filings are embedded within that R&D figure, as the search results point to third-party expenses for the Phase 2a clinical trial as the primary driver for the R&D increase. While Aligos Therapeutics reported revenue of $0.7 million from contracts with customers in Q3 2025, it had no collaboration revenue, meaning the entire operating cost structure is currently funded by cash reserves, which totaled $99.1 million as of September 30, 2025.

You can see the key cost components that define Aligos Therapeutics, Inc.'s current operational phase:

• High spend on pevifoscorvir sodium Phase 2a trial third-party costs.
• Increasing legal and related expenses within G&A.
• Zero revenue from collaborations to offset the $23.9 million R&D spend.
• Funding runway projected to last into the third quarter of 2026.

Finance: draft 13-week cash view by Friday.

Aligos Therapeutics, Inc. (ALGS) - Canvas Business Model: Revenue Streams

You're looking at the current income sources for Aligos Therapeutics, Inc. as of late 2025. For a clinical-stage biotech, revenue is often lumpy, tied to development milestones or, in this case, some small, consistent operational income.

The most concrete, recurring revenue stream reported for the third quarter of 2025 was from other sources. Specifically, Interest and other income, net, totaled $1.1 million for the three months ended September 30, 2025.

To give you a clearer picture of the revenue breakdown for that quarter, here's what the numbers show:

Revenue Component	Q3 2025 Amount (USD)
Revenue from Customers	$741,000
Revenue from Collaborations	$0
Interest and Other Income, Net	$1,100,000

That absence of collaboration revenue in Q3 2025 is definitely something to watch, as it points to the importance of the next set of potential income drivers.

The major upside potential for Aligos Therapeutics, Inc. revenue rests on future, non-guaranteed payments tied to their pipeline progress. These are the key areas where significant, non-dilutive funding could materialize:

• Future upfront payments and milestone fees from out-licensing agreements.
• Potential future royalties from commercialized products developed with partners.

Honestly, the company is actively seeking partners for its assets, like ALG-055009 for obesity and MASH, which directly feeds into these future revenue streams.

Finally, since R&D expenses are high-totaling $23.9 million for Q3 2025-the fourth major component of the funding model is external capital. Proceeds from equity financing are a necessary source to bridge the gap until a major partnership or product approval. As of September 30, 2025, Aligos Therapeutics, Inc. held $99.1 million in cash, cash equivalents, and investments, which they project will fund planned operations into the third quarter of 2026. This runway gives them time, but securing financing, whether through equity or partnerships, remains a core operational activity.