$ALGS
Aligos Therapeutics, Inc.

2023 Q4 Form 10-K Financial Statement

#000095017024029953 Filed on March 12, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $2.681M $15.53M $0.00
YoY Change -24.2%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.421M $30.62M $26.41M
YoY Change -9.8% 15.93% -7.42%
% of Gross Profit
Research & Development $22.26M $73.04M $85.08M
YoY Change 16.53% -14.15% -18.32%
% of Gross Profit
Depreciation & Amortization $394.0K $1.559M $2.300M
YoY Change -24.52% -32.22% -23.33%
% of Gross Profit
Operating Expenses $28.68M $103.7M $111.5M
YoY Change 9.38% -7.02% -15.97%
Operating Profit -$88.13M -$97.58M
YoY Change -9.69% -23.96%
Interest Expense $1.589M $4.297M $1.521M
YoY Change 109.91% 182.51% 528.51%
% of Operating Profit
Other Income/Expense, Net -$3.514M -$3.054M $119.0K
YoY Change -4093.18% -2666.39% -208.18%
Pretax Income -$27.92M -$86.88M -$95.94M
YoY Change 27.87% -9.44% -25.16%
Income Tax -$30.00K $795.0K $106.0K
% Of Pretax Income
Net Earnings -$27.89M -$87.68M -$96.05M
YoY Change 27.44% -8.71% -25.16%
Net Earnings / Revenue -1040.36% -564.61%
Basic Earnings Per Share -$1.36 -$2.25
Diluted Earnings Per Share -$0.43 -$1.36 -$2.25
COMMON SHARES
Basic Shares Outstanding 64.26M 42.70M
Diluted Shares Outstanding 64.26M 42.70M

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $135.7M $135.7M $125.8M
YoY Change 7.85% 7.85% -34.03%
Cash & Equivalents $135.7M $135.7M $81.35M
Short-Term Investments $0.00 $0.00 $44.48M
Other Short-Term Assets $5.380M $5.380M $7.718M
YoY Change -29.24% -30.29% -43.62%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $141.1M $141.1M $133.5M
YoY Change 5.65% 5.65% -34.67%
LONG-TERM ASSETS
Property, Plant & Equipment $9.818M $9.818M $12.51M
YoY Change 103.86% -21.54% -16.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $625.0K $625.0K $634.0K
YoY Change -1.42% -1.42% -26.79%
Total Long-Term Assets $10.44M $10.44M $13.15M
YoY Change -20.57% -20.57% -57.51%
TOTAL ASSETS
Total Short-Term Assets $141.1M $141.1M $133.5M
Total Long-Term Assets $10.44M $10.44M $13.15M
Total Assets $151.5M $151.5M $146.7M
YoY Change 3.3% 3.3% -37.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.517M $2.517M $4.737M
YoY Change -46.87% -46.87% 57.11%
Accrued Expenses $17.05M $17.05M $17.54M
YoY Change 6.28% -2.79% -34.21%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00K $10.00K $108.0K
YoY Change -90.74% -90.74% -21.74%
Total Short-Term Liabilities $23.91M $23.91M $33.13M
YoY Change -27.84% -27.84% -14.96%
LONG-TERM LIABILITIES
Long-Term Debt $231.0K $231.0K $230.0K
YoY Change 0.43% 0.43% -41.62%
Other Long-Term Liabilities $35.31M $35.31M $9.434M
YoY Change 274.28% 274.28% -16.42%
Total Long-Term Liabilities $35.54M $35.54M $9.664M
YoY Change 267.77% 267.77% -17.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.91M $23.91M $33.13M
Total Long-Term Liabilities $35.54M $35.54M $9.664M
Total Liabilities $59.45M $59.45M $42.79M
YoY Change 38.92% 38.92% -15.49%
SHAREHOLDERS EQUITY
Retained Earnings -$486.8M
YoY Change 21.97%
Common Stock $578.3M
YoY Change 15.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $92.08M $92.08M $103.9M
YoY Change
Total Liabilities & Shareholders Equity $151.5M $151.5M $146.7M
YoY Change 3.3% 3.3% -37.68%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income -$27.89M -$87.68M -$96.05M
YoY Change 27.44% -8.71% -25.16%
Depreciation, Depletion And Amortization $394.0K $1.559M $2.300M
YoY Change -24.52% -32.22% -23.33%
Cash From Operating Activities -$22.66M -$79.00M -$79.39M
YoY Change 35.01% -0.49% -31.36%
INVESTING ACTIVITIES
Capital Expenditures $7.000K $19.00K $943.0K
YoY Change -92.31% -97.99% 5.72%
Acquisitions
YoY Change
Other Investing Activities $0.00 $45.00M -$25.35M
YoY Change -100.0% -277.51% -747.68%
Cash From Investing Activities -$7.000K $44.98M -$26.29M
YoY Change -100.06% -271.08% -970.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $87.94M $88.42M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 87.94M 88.33M 164.0K
YoY Change 72574.38% 53758.54% -99.79%
NET CHANGE
Cash From Operating Activities -22.66M -79.00M -79.39M
Cash From Investing Activities -7.000K 44.98M -26.29M
Cash From Financing Activities 87.94M 88.33M 164.0K
Net Change In Cash 65.27M 54.31M -105.5M
YoY Change -1390.45% -151.47% 210.69%
FREE CASH FLOW
Cash From Operating Activities -$22.66M -$79.00M -$79.39M
Capital Expenditures $7.000K $19.00K $943.0K
Free Cash Flow -$22.67M -$79.02M -$80.33M
YoY Change 34.32% -1.64% -31.08%

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CY2022 algs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-1819000
CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
46000
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-133000
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-8659000
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2502000
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
524000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-78997000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-79389000
CY2023 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
45011000
CY2022 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
78915000
CY2023 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
11000
CY2022 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
104265000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
943000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
44981000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26293000
CY2023 algs Proceeds From Issuance Of Common Stock In Connection With Pipe Offering Net Of Costs
ProceedsFromIssuanceOfCommonStockInConnectionWithPipeOfferingNetOfCosts
17443000
CY2023 algs Proceeds From Issuance Of Pre Funded Warrants In Connection With Pipe Offering Net Of Costs
ProceedsFromIssuanceOfPreFundedWarrantsInConnectionWithPipeOfferingNetOfCosts
44980000
CY2023 algs Proceeds From Issuance Of Common Warrants In Connection With Pipe Offering Net Of Costs
ProceedsFromIssuanceOfCommonWarrantsInConnectionWithPipeOfferingNetOfCosts
25427000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
96000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
61000
CY2023 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
551000
CY2022 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
205000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
88328000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
164000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
54312000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-105518000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81462000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186980000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
135774000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81462000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
135704000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81347000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
70000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
115000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
135774000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81462000
CY2022 algs Receviable Due From Arrangement
ReceviableDueFromArrangement
700000
CY2023 algs Market To Market Adjustments For Available For Sale Investments
MarketToMarketAdjustmentsForAvailableForSaleInvestments
96000
CY2022 algs Market To Market Adjustments For Available For Sale Investments
MarketToMarketAdjustmentsForAvailableForSaleInvestments
-57000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1094000
CY2023 algs Vesting Of Early Exercised Options Value
VestingOfEarlyExercisedOptionsValue
66000
CY2022 algs Vesting Of Early Exercised Options Value
VestingOfEarlyExercisedOptionsValue
209000
CY2023 algs Change In Pension Obligation
ChangeInPensionObligation
48000
CY2022 algs Change In Pension Obligation
ChangeInPensionObligation
6000
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. Organization</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Description of business</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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 (the Subsidiary or Aligos-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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Aligos is a clinical-stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in liver diseases and viral infections, including in the areas of metabolic dysfunction associated steatohepatitis (MASH), chronic hepatitis B (CHB), and coronavirus (e.g., SARS-CoV-2 and related infections).</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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 preclinical 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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Liquidity</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has incurred losses and negative cash flows from operations since its inception. As of December 31, 2023 and 2022, the Company had an accumulated deficit of approximately </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">486.8</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">399.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of December 31, 2023, the Company has cash, cash equivalent and investments of approximately </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">135.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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. Based on the Company’s research and development plans, it is expected that the Company’s existing cash, cash equivalents and investments, will enable the Company to fund its operations for at least 12 months following the date the 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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Company’s ability to raise additional funds will depend on financial, economic and other factors, many of which are beyond its control. 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</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">marketing </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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>
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-486800000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-399100000
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
135700000
CY2023 us-gaap Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
The Company considers all highly liquid investments purchased with original maturities of 90 days or less at acquisition to be cash equivalents.
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the consolidated financial statements in conformity with U.S. GAAP generally requires management to make certain estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. The Company regularly evaluates estimates and assumptions related to assets and liabilities, at the dates of the consolidated financial statements and the reported amounts of expenses during the reporting period. Areas where management uses subjective judgments include, but are not limited to, right-of-use assets, lease obligations, impairment of long-lived assets, stock-based compensation, accrued research and development costs, revenue from collaborations, revenue from contracts with customers, deferred revenue, common stock warrants liability, income taxes and</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> pension liabilities in the accompanying consolidated financial statements. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from these estimates under different assumptions or conditions.</span>
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
45700
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
42000
CY2023 algs Pre Product Revenue From Contracts And Collaborations
PreProductRevenueFromContractsAndCollaborations
0
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
100000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
100000
CY2023 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2022 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2023Q4 us-gaap Investments
Investments
0
CY2023 algs Debt Securities Available For Sale Original Maturity Period
DebtSecuritiesAvailableForSaleOriginalMaturityPeriod
P1Y6M
CY2022 algs Debt Securities Available For Sale Original Maturity Period
DebtSecuritiesAvailableForSaleOriginalMaturityPeriod
P1Y6M
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of credit risk and significant suppliers</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has no significant off-balance sheet risk, such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, restricted cash and investments. 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 generally invests its excess capital in money market funds, U.S. treasury bonds, U.S. treasury bills and certificates of deposit that are subject to minimal credit and market risks.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is dependent on various third parties to manufacture compounds for the Company to conduct research and studies for its programs. These programs would be adversely delayed by a significant interruption in the supply of active pharmaceutical ingredients.</span>
CY2023 algs Decrease In Research And Development Expense
DecreaseInResearchAndDevelopmentExpense
1600000
CY2022 algs Decrease In Research And Development Expense
DecreaseInResearchAndDevelopmentExpense
0
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 algs Percentage Of Expected Average Remaining Working Lives Of Employees
PercentageOfExpectedAverageRemainingWorkingLivesOfEmployees
0.10
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14014000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14384000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10755000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9568000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3259000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4816000
CY2023 us-gaap Depreciation
Depreciation
1600000
CY2022 us-gaap Depreciation
Depreciation
2300000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0
CY2023 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4300000
CY2022 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1500000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6673000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6297000
CY2023Q4 algs Accrued Payables Current
AccruedPayablesCurrent
7144000
CY2022Q4 algs Accrued Payables Current
AccruedPayablesCurrent
8203000
CY2022Q4 algs Liability For Early Exercised Stocks Options Current
LiabilityForEarlyExercisedStocksOptionsCurrent
66000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3025000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1473000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16842000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16039000
CY2023Q4 algs Restructuring And Related Activities Accrual Amount Included Within Accrued Compensation
RestructuringAndRelatedActivitiesAccrualAmountIncludedWithinAccruedCompensation
300000
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2021Q4 algs Lessee Operating Lease Area Of Office Space
LesseeOperatingLeaseAreaOfOfficeSpace
12000
CY2021Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021 algs Lessee Operating Lease Rental Payments
LesseeOperatingLeaseRentalPayments
2700000
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
700000
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3562000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
63000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3680000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
65000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3801000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
44000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1443000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
161000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
12647000
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
172000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1750000
CY2023Q4 algs Finance Lease Liabilities Undiscounted Excess Amount
FinanceLeaseLiabilitiesUndiscountedExcessAmount
-69000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
10897000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
241000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3229000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
10000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7668000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
231000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
2321000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
2504000
CY2023 algs Finance Lease Amortization Of Right Of Use Assets
FinanceLeaseAmortizationOfRightOfUseAssets
84000
CY2022 algs Finance Lease Amortization Of Right Of Use Assets
FinanceLeaseAmortizationOfRightOfUseAssets
108000
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
13000
CY2023 algs Finance Lease Cost
FinanceLeaseCost
95000
CY2022 algs Finance Lease Cost
FinanceLeaseCost
121000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
3600000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
3400000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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