$ALGS
Aligos Therapeutics, Inc.

2021 Q1 Form 10-K Financial Statement

#000156459021014872 Filed on March 23, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020
Revenue $910.0K $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.780M $6.210M $17.94M
YoY Change 69.01% 79.22%
% of Gross Profit
Research & Development $22.87M $28.08M $79.89M
YoY Change 32.19% 81.41%
% of Gross Profit
Depreciation & Amortization $741.0K $730.0K $2.700M
YoY Change 123.87% -42.52% 93.41%
% of Gross Profit
Operating Expenses $28.65M $34.29M $97.83M
YoY Change 38.27% 81.03%
Operating Profit -$27.74M -$97.83M
YoY Change 33.87% 81.03%
Interest Expense $110.0K $270.0K $1.260M
YoY Change -76.6% -19.23%
% of Operating Profit
Other Income/Expense, Net $10.00K -$190.0K -$11.80M
YoY Change -95.45% -4033.33%
Pretax Income -$27.63M -$34.20M -$108.4M
YoY Change 37.94% 107.71%
Income Tax $45.00K $220.0K $161.0K
% Of Pretax Income
Net Earnings -$27.67M -$34.42M -$108.5M
YoY Change 38.17% 107.68%
Net Earnings / Revenue -3041.1%
Basic Earnings Per Share
Diluted Earnings Per Share -$739.2K -$962.8K -$2.965M
COMMON SHARES
Basic Shares Outstanding 38.14M 38.12M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $213.4M $243.5M $243.5M
YoY Change 106.88%
Cash & Equivalents $200.4M $220.4M $220.4M
Short-Term Investments $13.10M $23.10M $23.10M
Other Short-Term Assets $6.400M $5.944M $6.500M
YoY Change 193.53% 150.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $219.8M $250.0M $250.0M
YoY Change 107.96% 107.99%
LONG-TERM ASSETS
Property, Plant & Equipment $14.50M $8.007M $14.90M
YoY Change -5.99% -7.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $377.0K $400.0K
YoY Change 100.53% 100.0%
Total Long-Term Assets $14.70M $15.29M $15.30M
YoY Change -41.87% -41.83%
TOTAL ASSETS
Total Short-Term Assets $219.8M $250.0M $250.0M
Total Long-Term Assets $14.70M $15.29M $15.30M
Total Assets $234.5M $265.3M $265.3M
YoY Change 81.07% 81.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.800M $3.313M $3.300M
YoY Change -12.05% -13.16%
Accrued Expenses $13.40M $16.56M $18.30M
YoY Change 117.98% 110.34%
Deferred Revenue $7.891M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $100.0K $100.0K
YoY Change 0.0%
Total Short-Term Liabilities $25.20M $30.27M $30.30M
YoY Change 119.09% 119.57%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $500.0K $500.0K
YoY Change -85.29%
Other Long-Term Liabilities $14.00M $379.0K $14.50M
YoY Change 18.85%
Total Long-Term Liabilities $14.10M $379.0K $15.00M
YoY Change -3.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.20M $30.27M $30.30M
Total Long-Term Liabilities $14.10M $379.0K $15.00M
Total Liabilities $39.30M $45.26M $45.30M
YoY Change 54.31% 54.61%
SHAREHOLDERS EQUITY
Retained Earnings -$174.7M
YoY Change 163.91%
Common Stock $395.0M
YoY Change 27695.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $195.2M $220.0M $220.0M
YoY Change
Total Liabilities & Shareholders Equity $234.5M $265.3M $265.3M
YoY Change 81.07% 81.09%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$27.67M -$34.42M -$108.5M
YoY Change 38.17% 107.68%
Depreciation, Depletion And Amortization $741.0K $730.0K $2.700M
YoY Change 123.87% -42.52% 93.41%
Cash From Operating Activities -$29.80M -$19.68M -$74.26M
YoY Change 46.64% -30.78% 58.79%
INVESTING ACTIVITIES
Capital Expenditures $307.0K -$60.00K $2.064M
YoY Change -71.83% -95.59% -25.92%
Acquisitions
YoY Change
Other Investing Activities $10.00M $15.00M $34.82M
YoY Change -144.09% -210.78% 263.47%
Cash From Investing Activities $9.693M $14.94M $32.76M
YoY Change -140.78% -200.27% 382.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 78.00K 193.3M 192.3M
YoY Change -262.5% 125.97% 124.88%
NET CHANGE
Cash From Operating Activities -29.80M -19.68M -74.26M
Cash From Investing Activities 9.693M 14.94M 32.76M
Cash From Financing Activities 78.00K 193.3M 192.3M
Net Change In Cash -20.03M 188.6M 150.8M
YoY Change -54.63% 346.66% 231.11%
FREE CASH FLOW
Cash From Operating Activities -$29.80M -$19.68M -$74.26M
Capital Expenditures $307.0K -$60.00K $2.064M
Free Cash Flow -$30.10M -$19.62M -$76.33M
YoY Change 40.61% -27.52% 54.03%

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51000
CY2020 us-gaap Nature Of Operations
NatureOfOperations
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Organization </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Description of business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Aligos Therapeutics, Inc. (Aligos-US) was incorporated in the state of Delaware on February&#160;5, 2018 (inception). On September&#160;10, 2018, the Company formed Aligos Belgium BVBA (the Subsidiary or Aligos-Belgium). <font style="Background-color:#FFFFFF;color:#000000;">On March&#160;30, 2020, the Company formed as a wholly owned subsidiary, Aligos Australia Pty LTD (Aligos-Australia), a proprietary limited company, and together with&#160;Aligos-US&#160;and Aligos-Belgium being the Company or Aligos.</font> </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Aligos is a clinical-stage biopharmaceutical company developing novel therapeutics to address unmet medical needs in viral and liver diseases, including chronic hepatitis B and coronaviruses and therapeutics for nonalcoholic steatohepatitis (NASH). </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Reverse stock split </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October&#160;8, 2020, the Company&#8217;s board of directors approved a 1-for-9.3197 reverse stock split (the Reverse Stock Split) of the Company&#8217;s common stock and redeemable convertible preferred stock to be consummated prior to the effectiveness of the Company&#8217;s planned initial public offering (IPO). The par value and authorized shares of the common stock and redeemable convertible preferred stock were not adjusted as a result of the reverse stock split. All issued and outstanding common stock, options to purchase common stock and per share amounts contained in the financial statements have been retroactively adjusted to give effect to the reverse stock split for all periods presented. The Company filed an amended and restated certificate of incorporation in Delaware on October&#160;9, 2020 that automatically effectuated the Reverse Stock Split without any further action required. </p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Initial public offering</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;text-indent:7.69%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October&#160;20, 2020, the Company closed its IPO and issued 10,000,000 shares of its common stock at a public offering price of $15.00 per share for net proceeds of $135.4 million, after deducting underwriting discounts and commissions of $10.5 million and expenses of $4.1 million. In connection with the IPO, all shares of Series A redeemable convertible preferred stock (Series A), Series&#160;B-1&#160;redeemable convertible preferred stock (Series&#160;B&#8209;1)&#160;and Series&#160;B-2&#160;redeemable convertible preferred stock (Series&#160;B-2)&#160;converted into 19,761,870 shares of voting common stock and 3,092,338 shares of&#160;non-voting&#160;common stock. On November&#160;5, 2020, the underwriters of the IPO partially exercised their overallotment option by purchasing an additional 1,150,000 shares from the Company, resulting in an additional $16.0 million in net proceeds, after deducting underwriting discounts and commissions of $1.2 million.</p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Liquidity and going concern assessment </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has incurred losses and negative cash flows from operations since its inception. As of December&#160;31, 2020 and 2019, the Company has an accumulated deficit of approximately $174.7 million and $66.2 million, respectively. Management expects to continue to incur additional substantial losses in the foreseeable future as a result of expanded research and development activities. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of December&#160;31, 2020, the Company has unrestricted cash, cash equivalent and short-term investments of approximately $243.5 million, 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&#8217;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.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8217;s research and development plans, it is expected that the Company&#8217;s existing cash, cash equivalents and investments, will enable the Company to fund its operations for at least 12&#160;months following the date the consolidated financial statements are issued. However, the Company&#8217;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&#8217;s future expenses given the dynamic nature of its business, the COVID-19 pandemic and the macro-economic environment generally. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s ability to raise additional funds will depend on financial, economic and other factors, many of which are beyond its control. In particular, the COVID-19 pandemic continues to rapidly evolve and has already resulted in a significant 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&#8217;s flexibility in developing or maintaining its sales and marketing strategy. </p>
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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, pension liabilities, derivative liabilities and redeemable convertible preferred stock liability 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. </p>
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of credit risk and significant suppliers </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 and U.S. treasury bills that are subject to minimal credit and market risks. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:5.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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. </p>
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2700000
CY2019 algs Finance Lease Cost
FinanceLeaseCost
52000
CY2019Q4 algs Liability With Early Exercised Stock Options Current
LiabilityWithEarlyExercisedStockOptionsCurrent
753000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
167000
CY2020Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-9.3197
CY2020Q4 algs Short Term Investment Unrestricted Cash And Cash Equivalent
ShortTermInvestmentUnrestrictedCashAndCashEquivalent
243500000
CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
121000
CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-47000
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0
CY2020 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.
CY2020 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2019 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2019Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2020Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2019Q4 us-gaap Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
0
CY2019 algs Expenses On Milestone Payments
ExpensesOnMilestonePayments
0
CY2020 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2020 algs Percentage Of Expected Average Remaining Working Lives Of Employees
PercentageOfExpectedAverageRemainingWorkingLivesOfEmployees
0.10
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12250000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10025000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4243000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1508000
CY2020Q4 algs Held To Maturity And Available For Sale Securities Amortized Cost Basis
HeldToMaturityAndAvailableForSaleSecuritiesAmortizedCostBasis
23062000
CY2020Q4 algs Held To Maturity And Available For Sale Securities Accumulated Unrecognized Holding Gain
HeldToMaturityAndAvailableForSaleSecuritiesAccumulatedUnrecognizedHoldingGain
82000
CY2020Q4 us-gaap Available For Sale Securities And Held To Maturity Securities
AvailableForSaleSecuritiesAndHeldToMaturitySecurities
23144000
CY2020Q4 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount
23062000
CY2020Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
23062000
CY2020Q4 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue
23144000
CY2020Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
23144000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7274000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3211000
CY2020Q4 algs Accrued Payables Current
AccruedPayablesCurrent
8554000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
522000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2616000
CY2019Q4 algs Accrued Payables Current
AccruedPayablesCurrent
3113000
CY2020Q4 algs Liability With Early Exercised Stock Options Current
LiabilityWithEarlyExercisedStockOptionsCurrent
569000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2696000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2678000
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
8000
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
15000
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
11000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
2500000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2772000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3642000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17104000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4291000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
194000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
12813000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
80000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
79000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
42000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1000
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
202000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
1847000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
2228000
CY2020 algs Finance Lease Amortization Of Right Of Use Assets
FinanceLeaseAmortizationOfRightOfUseAssets
60000
CY2019 algs Finance Lease Amortization Of Right Of Use Assets
FinanceLeaseAmortizationOfRightOfUseAssets
46000
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9000
CY2019 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6000
CY2020 algs Finance Lease Cost
FinanceLeaseCost
69000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
1200000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
296000000
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
296000000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
107000000
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
47000000
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y11M19D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y1M6D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0935
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0934
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M4D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M28D
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0315
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0318
CY2020Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
134112
CY2020Q4 algs Percentage Of Principal Amount Of Notes Covered By Warrants
PercentageOfPrincipalAmountOfNotesCoveredByWarrants
0.25
CY2020 algs Warrants And Rights Outstanding Maturity Period
WarrantsAndRightsOutstandingMaturityPeriod
P10Y
CY2020 algs Warrants Issued Closing Date
WarrantsIssuedClosingDate
2018-04-20
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2018-02-05
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
20000000
CY2018Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2018Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000
CY2018Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
149000000
CY2018Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
102500000
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.90144231
CY2020 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
Effective immediately on filing date, the Company converted all shares of Common Stock into 0.90144231 shares of Common Stock (the 2018 Reverse Stock Split).
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
278000000
CY2019Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
212994964
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
320000000
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
10000000
CY2020Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
0
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one
CY2018Q3 algs Preferred Stock Conversion Split
PreferredStockConversionSplit
one-for-one
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
7000
CY2020Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
10000000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
The exercise price for incentive stock options is at least 100% of the fair market value on the date of grant for stockholders owning less than 10% of the voting power of all classes of stock, or at least 110% of the fair market value for stockholders owning more than 10% of the voting power of all classes of stock. Options generally expire in 10 years and vest over periods determined by the Board, generally 48 months.
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2020 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
396522
CY2019 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
577124
CY2020Q4 algs Aggregate Share Repurchase Price
AggregateShareRepurchasePrice
600000
CY2019Q4 algs Aggregate Share Repurchase Price
AggregateShareRepurchasePrice
700000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2975000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
752000
CY2020 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
0
CY2019 us-gaap Debt Instrument Convertible Beneficial Conversion Feature
DebtInstrumentConvertibleBeneficialConversionFeature
0
CY2019 algs Expense Related To Milestone Payments
ExpenseRelatedToMilestonePayments
0
CY2020 algs Expense Related To Milestone Payments
ExpenseRelatedToMilestonePayments
0
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1000
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
160000
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
85000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
161000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
86000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0690
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0818
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.0140
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.0187
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2724
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2971
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.0017
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.0132
CY2020 algs Effective Income Tax Rate Reconciliation Change In Fair Value Of Derivatives
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfDerivatives
-0.0225
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0021
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0018
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0015
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0016
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
31233000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
12106000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
10664000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
4227000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
33000
CY2020Q4 algs Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
4453000
CY2019Q4 algs Deferred Tax Assets Operating Lease Liabilities
DeferredTaxAssetsOperatingLeaseLiabilities
3776000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
4639000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
1865000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
1558000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
675000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
209000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
10000
CY2020 algs Offset Percentage Of Taxable Income
OffsetPercentageOfTaxableIncome
0.80
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
52799000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
22656000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
49133000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3666000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3294000
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
558000
CY2020Q4 algs Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
-2857000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1536000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
19362000
CY2019Q4 algs Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
-2067000
CY2019Q4 algs Deferred Tax Liabilities Stock Based Compensation
DeferredTaxLiabilitiesStockBasedCompensation
-115000
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
809000
CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1112000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3666000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3294000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
29700000
CY2020 algs Deferred Tax Assets Net Operating Loss Carryforwards Ownership Change In Percentage
DeferredTaxAssetsNetOperatingLossCarryforwardsOwnershipChangeInPercentage
0.50
CY2020 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
0
CY2020 algs Uncertain Tax Positions Changes In Period
UncertainTaxPositionsChangesInPeriod
P12M
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
637000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
79000
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
131000
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
768000
CY2020 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company is not currently under examination by income tax authorities in federal, state or other jurisdictions. All tax returns will remain open for examination by the federal and state authorities for three and four years, respectively, from the date of utilization of any NOLs or credits.
CY2020 algs Impact Of Cares Act To Income Taxes
ImpactOfCARESActToIncomeTaxes
0
CY2020Q2 algs Suspension Period Use Of Net Operating Losses
SuspensionPeriodUseOfNetOperatingLosses
P3Y
CY2020Q2 algs Cap Period On Use Of Business Incentive Tax Credits
CapPeriodOnUseOfBusinessIncentiveTaxCredits
P3Y
CY2020Q2 algs Incentive Tax Credits Offset Amount Of Tax
IncentiveTaxCreditsOffsetAmountOfTax
5000000
CY2020Q2 algs Taxable Income
TaxableIncome
1000000
CY2020Q4 algs Caa Impact To Tax Provision
CAAImpactToTaxProvision
0
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2019Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
432000
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
274000
CY2020 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.0175
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3753161
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24566018

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