(ALGS) News: Did You Lose Money on Your Aligos Therapeutics Stock? Contact Johnson Fistel Regarding Investigation
SAN DIEGO- Globe Newswire—January 13, 2022
Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Aligos Therapeutics, Inc. (“Aligos” or the “Company”) (NASDAQ: ALGS). Johnson Fistel, LLP seeks to recover losses for shareholders.
On or around October 15, 2020, Aligos conducted its initial public offering (“IPO”), offering 10 million shares of common stock priced at $15.00 per share. On January 6, 2022, the company 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.”
Following this news, Aligos stock price dropped 56.74% on January 6, 2022, and closed at $4.59.
If you have information that could assist in this investigation, including past employees or an Aligos shareholder who lost money on your investment and are interested in learning more about how to recover your money and/or the investigation, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com