An investigation for investors in Aligos Therapeutics, Inc. (NASDAQ: ALGS) shares over potential securities laws violations by Aligos Therapeutics, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 01/24/2022 -- Aligos Therapeutics, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Aligos Therapeutics, Inc. (NASDAQ: ALGS), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Aligos Therapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
San Francisco, CA based Aligos Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses to develop novel therapeutics to address unmet medical needs in viral and liver diseases.
On or around October 15, 2020, Aligos Therapeutics, Inc conducted its initial public offering ("IPO"), offering 10 million shares of common stock priced at $15.00 per share.
On January 6, 2022, Aligos Therapeutics, Inc issued a press release stating "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."
Those who purchased shares of Aligos Therapeutics, Inc. (NASDAQ: ALGS) have certain options and should contact the Shareholders Foundation.
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