$ALGS
Aligos Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023038045 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $4.294M $3.693M
YoY Change 16.27% 139.03%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.246M $7.576M
YoY Change -17.56% 15.56%
% of Gross Profit
Research & Development $16.78M $16.51M
YoY Change 1.64% -32.76%
% of Gross Profit
Depreciation & Amortization $400.0K $600.0K
YoY Change -33.33% -25.0%
% of Gross Profit
Operating Expenses $26.03M $24.09M
YoY Change 8.06% -22.58%
Operating Profit -$19.14M -$20.39M
YoY Change -6.14% -31.02%
Interest Expense $955.0K $212.0K
YoY Change 350.47% 190.41%
% of Operating Profit
Other Income/Expense, Net $152.0K $304.0K
YoY Change -50.0% -202.01%
Pretax Income -$18.03M -$19.88M
YoY Change -9.27% -33.28%
Income Tax $757.0K $47.00K
% Of Pretax Income
Net Earnings -$18.79M -$19.92M
YoY Change -5.69% -33.18%
Net Earnings / Revenue -437.61% -539.51%
Basic Earnings Per Share -$0.43 -$0.47
Diluted Earnings Per Share -$0.43 -$467.0K
COMMON SHARES
Basic Shares Outstanding 43.22M 42.67M
Diluted Shares Outstanding 43.22M 42.67M

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.84M $159.3M
YoY Change -42.99% -16.42%
Cash & Equivalents $90.83M $71.17M
Short-Term Investments $10.00K $88.17M
Other Short-Term Assets $3.363M $8.320M
YoY Change -59.58% 43.55%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $94.24M $167.7M
YoY Change -43.8% -14.73%
LONG-TERM ASSETS
Property, Plant & Equipment $3.951M $5.781M
YoY Change -31.66% -16.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $624.0K $616.0K
YoY Change 1.3% -58.41%
Total Long-Term Assets $11.89M $14.84M
YoY Change -19.89% -2.6%
TOTAL ASSETS
Total Short-Term Assets $94.24M $167.7M
Total Long-Term Assets $11.89M $14.84M
Total Assets $106.1M $182.5M
YoY Change -41.85% -13.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.241M $2.762M
YoY Change 17.34% 73.38%
Accrued Expenses $13.80M $12.82M
YoY Change 7.57% -32.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $64.00K $138.0K
YoY Change -53.62% 430.77%
Total Short-Term Liabilities $27.23M $31.65M
YoY Change -13.99% 5.17%
LONG-TERM LIABILITIES
Long-Term Debt $203.0K $334.0K
YoY Change -39.22% -15.87%
Other Long-Term Liabilities $9.067M $133.0K
YoY Change 6717.29% -50.19%
Total Long-Term Liabilities $9.270M $133.0K
YoY Change 6869.92% -50.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.23M $31.65M
Total Long-Term Liabilities $9.270M $133.0K
Total Liabilities $36.50M $45.54M
YoY Change -19.87% 5.93%
SHAREHOLDERS EQUITY
Retained Earnings -$440.9M -$358.6M
YoY Change 22.95% 54.44%
Common Stock $510.0M $495.5M
YoY Change 2.92% 23.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $69.64M $137.0M
YoY Change
Total Liabilities & Shareholders Equity $106.1M $182.5M
YoY Change -41.85% -13.85%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$18.79M -$19.92M
YoY Change -5.69% -33.18%
Depreciation, Depletion And Amortization $400.0K $600.0K
YoY Change -33.33% -25.0%
Cash From Operating Activities -$13.62M -$25.04M
YoY Change -45.61% 8.78%
INVESTING ACTIVITIES
Capital Expenditures -$334.0K
YoY Change 124.16%
Acquisitions
YoY Change
Other Investing Activities $25.00M -$9.642M
YoY Change -359.25% -196.42%
Cash From Investing Activities $25.00M -$9.976M
YoY Change -350.64% -201.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 414.0K 83.00K
YoY Change 398.8% -10.75%
NET CHANGE
Cash From Operating Activities -13.62M -25.04M
Cash From Investing Activities 25.00M -9.976M
Cash From Financing Activities 414.0K 83.00K
Net Change In Cash 11.80M -34.93M
YoY Change -133.79% 167.24%
FREE CASH FLOW
Cash From Operating Activities -$13.62M -$25.04M
Capital Expenditures -$334.0K
Free Cash Flow -$24.70M
YoY Change 8.03%

Facts In Submission

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VestingOfEarlyExcercisedCommonStockOptionsValue
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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NetIncomeLoss
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15000
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OperatingLeaseRightOfUseAssetAmortizationExpense
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OperatingLeaseRightOfUseAssetAmortizationExpense
626000
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OperatingLeaseImpairmentLoss
724000
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Depreciation
858000
us-gaap Depreciation
Depreciation
1246000
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ShareBasedCompensation
6860000
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ShareBasedCompensation
7786000
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us-gaap Increase Decrease In Other Current Assets
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IncreaseDecreaseInRightOfUseAssets
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IncreaseDecreaseInAccountsPayable
-1496000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-253000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2202000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-12425000
algs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1184000
algs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-957000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4640000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
8745000
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2241000
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NetCashProvidedByUsedInOperatingActivities
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NetCashProvidedByUsedInOperatingActivities
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ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
45000000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
5245000
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PaymentsToAcquireShortTermInvestments
10000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
74776000
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PurchasesWriteOffsOfPropertyAndEquipment
7000
algs Purchases Write Offs Of Property And Equipment
PurchasesWriteOffsOfPropertyAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
44997000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
71000
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FinanceLeasePrincipalPayments
60000
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ProceedsFromStockPlans
461000
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ProceedsFromStockPlans
111000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
23000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
11000
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NetCashProvidedByUsedInFinancingActivities
413000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
62000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
9407000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-115787000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81463000
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186980000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90870000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9568000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3951000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4816000
CY2023Q2 us-gaap Depreciation
Depreciation
400000
us-gaap Depreciation
Depreciation
900000
CY2022Q2 us-gaap Depreciation
Depreciation
600000
us-gaap Depreciation
Depreciation
1200000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
71193000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
90828000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
71172000
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
42000
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
21000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90870000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
71193000
algs Market To Market Adjustments For Available For Sale Investments
MarketToMarketAdjustmentsForAvailableForSaleInvestments
96000
algs Market To Market Adjustments For Available For Sale Investments
MarketToMarketAdjustmentsForAvailableForSaleInvestments
-402000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1094000
algs Vesting Of Early Exercised Options Value
VestingOfEarlyExercisedOptionsValue
41000
algs Vesting Of Early Exercised Options Value
VestingOfEarlyExercisedOptionsValue
144000
us-gaap Nature Of Operations
NatureOfOperations
<div style="text-indent:0.0%;display:flex;margin-top:6.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.537%;">1.</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Organization </span></div></div><p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Description of business</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Aligos Therapeutics, Inc. (Aligos-US) was incorporated in the state of Delaware on February 5, 2018 (inception). On September 10, 2018, the Company formed Aligos Belgium BVBA (Aligos-Belgium), a limited liability company organized under the laws of Belgium. On March 30, 2020, the Company formed as a wholly owned subsidiary, Aligos Australia Pty LTD (Aligos-Australia), a proprietary limited company. On May 18, 2021, the Company formed as a wholly owned subsidiary, Aligos Therapeutics (Shanghai) Co. Ltd. (Aligos-Shanghai) and together with Aligos-US, Aligos-Belgium, and Aligos-Australia being the “Company” or “Aligos”.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Aligos is a clinical-stage biopharmaceutical company developing novel therapeutics to address unmet medical needs in viral and liver diseases, including for non-alcoholic steatohepatitis (NASH), coronaviruses and chronic hepatitis B.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company is devoting substantially all of its efforts to the research and development of its drug candidates. The Company has not generated any product revenue to date. The Company is also subject to a number of risks similar to other companies in the biotechnology industry, including the uncertainty of success of its nonclinical studies and clinical trials, regulatory approval of drug candidates, uncertainty of market acceptance of products, competition from substitute products and larger companies, the need to obtain additional financing, compliance with government regulations, protection of proprietary technology, dependence on third-parties, product liability, and dependence on key individuals.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Liquidity</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company has incurred losses and negative cash flows from operations since its inception. As of June 30, 2023 and December 31, 2022, the Company had an accumulated deficit of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">440.9</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">399.1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, respectively. Management expects to continue to incur additional substantial losses in the foreseeable future as a result of expanded research and development activities.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">As of June 30, 2023, the Company has unrestricted cash, cash equivalents and investments of approximately </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">90.8</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> which is available to fund future operations. The Company expects to continue to spend substantial amounts to continue the nonclinical and clinical development of its current and future programs. If the Company is able to gain marketing approval for drug candidates that are being developed, it will require significant additional amounts of cash in order to launch and commercialize such drug candidates. In addition, other unanticipated costs may arise. Because the design and outcome of the Company’s planned and anticipated clinical trials is highly uncertain, the Company cannot reasonably estimate the actual amounts necessary to successfully complete the development and commercialization of any drug candidate the Company may develop.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company expects to finance its cash needs through a combination of public or private equity offerings, debt financings, collaborations, strategic alliances, licensing arrangements and other marketing or distribution arrangements. In addition, the Company may seek additional capital to take advantage of favorable market conditions or strategic opportunities even if the Company believes it has sufficient funds for its current or future operating plans. Based on the Company’s research and development plans, the Company expects its existing unrestricted cash, cash equivalents and investments, will enable it to fund its operations for at least 12 months following the date the condensed consolidated financial statements are issued. However, the Company’s operating plan may change as a result of many factors currently unknown, and the Company may need to seek additional funds sooner than planned. Moreover, it is particularly difficult to estimate with certainty the Company’s future expenses given the dynamic nature of its business and the macro-economic environment generally.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company’s ability to raise additional funds will depend on financial, economic and other factors, many of which are beyond its control. For example, the COVID-19 pandemic, the current inflationary economic environment and rising interest rates have resulted in a disruption of global financial markets. If the disruption persists or deepens, the Company could be unable to access additional capital, which could negatively affect its ability to consummate certain corporate development transactions or other important, beneficial or opportunistic investments. If additional funds are not available to the Company when needed, on terms that are acceptable to the Company, or at all, the Company may be required to: delay, limit, reduce or terminate nonclinical studies, clinical trials or other research and development activities or eliminate one or more of its development programs altogether; or delay, limit, reduce or terminate its efforts to establish manufacturing and sales and marketing capabilities or other activities that may be necessary to commercialize any future approved products, or reduce the Company’s flexibility in developing or maintaining its sales and marketing strategy.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company deposits its cash in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The Company has always maintained a dual banking system to limit its credit and liquidity risk.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
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CY2023Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
700000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14377000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14384000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10426000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
10000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
10000
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
10000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
10000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3137000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6297000
CY2023Q2 algs Accrued Payables Current
AccruedPayablesCurrent
9192000
CY2022Q4 algs Accrued Payables Current
AccruedPayablesCurrent
8203000
CY2023Q2 algs Liability For Early Exercised Stocks Options Current
LiabilityForEarlyExercisedStocksOptionsCurrent
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CY2022Q4 algs Liability For Early Exercised Stocks Options Current
LiabilityForEarlyExercisedStocksOptionsCurrent
66000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1441000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1473000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13795000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16039000
CY2023Q2 algs Restructuring And Related Activities Accrual Amount Included Within Accrued Compensation
RestructuringAndRelatedActivitiesAccrualAmountIncludedWithinAccruedCompensation
200000
CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
9621
CY2022 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
28711
CY2023Q2 algs Aggregate Price For Share Repurchase
AggregatePriceForShareRepurchase
0
CY2022Q4 algs Aggregate Price For Share Repurchase
AggregatePriceForShareRepurchase
100000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
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0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3197000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3994000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6860000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7780000
CY2023Q2 algs Expense Related To Milestone Payments
ExpenseRelatedToMilestonePayments
0
algs Expense Related To Milestone Payments
ExpenseRelatedToMilestonePayments
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CY2022Q2 algs Expense Related To Milestone Payments
ExpenseRelatedToMilestonePayments
0
algs Expense Related To Milestone Payments
ExpenseRelatedToMilestonePayments
0
CY2022Q4 algs Deferred Revenue From Collaborations
DeferredRevenueFromCollaborations
8743000
CY2021Q4 algs Deferred Revenue From Collaborations
DeferredRevenueFromCollaborations
7641000
algs Consideration Received
ConsiderationReceived
535000
algs Consideration Received
ConsiderationReceived
15009000
algs Contract With Customer Liability Revenue Recognized On Upfront Payment
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-5175000
algs Contract With Customer Liability Revenue Recognized On Upfront Payment
ContractWithCustomerLiabilityRevenueRecognizedOnUpfrontPayment
-6264000
CY2023Q2 algs Deferred Revenue From Collaborations
DeferredRevenueFromCollaborations
4103000
CY2022Q2 algs Deferred Revenue From Collaborations
DeferredRevenueFromCollaborations
16386000
CY2023Q2 algs Contract With Customer Liability Deferred Revenue Recognized On Upfront Payment
ContractWithCustomerLiabilityDeferredRevenueRecognizedOnUpfrontPayment
4300000
algs Contract With Customer Liability Deferred Revenue Recognized On Upfront Payment
ContractWithCustomerLiabilityDeferredRevenueRecognizedOnUpfrontPayment
4400000
CY2022Q2 algs Contract With Customer Liability Deferred Revenue Recognized On Upfront Payment
ContractWithCustomerLiabilityDeferredRevenueRecognizedOnUpfrontPayment
0
algs Contract With Customer Liability Deferred Revenue Recognized On Upfront Payment
ContractWithCustomerLiabilityDeferredRevenueRecognizedOnUpfrontPayment
0
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9016086
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10506661
CY2022Q4 algs Deferred Revenue From Customers
DeferredRevenueFromCustomers
700000
algs Deferred Revenue Consideration Received
DeferredRevenueConsiderationReceived
6676000
algs Contract With Customer Liability Deferred Revenue Recognized
ContractWithCustomerLiabilityDeferredRevenueRecognized
4434000
CY2023Q2 algs Deferred Revenue From Customers
DeferredRevenueFromCustomers
2942000
CY2023Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-18791000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-19924000
us-gaap Net Income Loss
NetIncomeLoss
-41746000
us-gaap Net Income Loss
NetIncomeLoss
-55539000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43215478
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43215478
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42665598
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42665598
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43063615
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43063615
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42590479
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42590479
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.43
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.43
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.97
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.3
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.3
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10506661
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9016086

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0000950170-23-038045.txt Edgar Link pending
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algs-20230630.htm Edgar Link pending
algs-20230630.xsd Edgar Link pending
algs-ex31_1.htm Edgar Link pending
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algs-20230630_def.xml Edgar Link unprocessable
algs-20230630_lab.xml Edgar Link unprocessable
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algs-20230630_htm.xml Edgar Link completed
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algs-20230630_cal.xml Edgar Link unprocessable