An investigation on behalf of investors in Aligos Therapeutics, Inc. (NASDAQ: ALGS) shares over potential wrongdoing at Aligos Therapeutics, Inc. was announced.
San Diego, CA — (SBWIRE) — 04/15/2022 — Certain directors of Aligos Therapeutics, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Aligos Therapeutics, Inc. (NASDAQ: ALGS) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Aligos Therapeutics, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
San Francisco, CA based Aligos Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses to develop novel therapeutics to address unmet medical needs in viral and liver diseases.
On or around October 15, 2020, Aligos Therapeutics, Inc conducted its initial public offering (“IPO”), offering 10 million shares of common stock priced at $15.00 per share.
On January 6, 2022, Aligos Therapeutics, Inc issued a press release stating “announc[ing] that it has halted further development of its STOPS™ drug candidate, ALG-010133, in development to address chronic hepatitis B (CHB).” Aligos stated that “[t]his decision is based on emerging data from the Phase 1 Study ALG-010133-101 that indicate that at the projected efficacious dose (400 mg, estimated to achieve liver exposures >3 x EC90 for HBsAg inhibition) there is no meaningful HBsAg reduction. Furthermore, higher doses levels (maximum feasible dose is 600 mg) that were planned to be evaluated in a subsequent cohort are very unlikely to reach the 1 log10 IU/mL HBsAg reduction level that Aligos had previously defined as necessary to advance the program.” Accordingly, “[b]ased on this information, Aligos management reviewed the data with members of the study’s Study Review Committee (SRC) and jointly concluded that these data were not sufficient to support further development of ALG-010133 and that dosing should be discontinued.”
Shares of Aligos Therapeutics, Inc. (NASDAQ: ALGS) declined to as low as $3.08 per share during January 19, 2022.
Those who purchased shares of Aligos Therapeutics, Inc. (NASDAQ: ALGS) have certain options and should contact the Shareholders Foundation.
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