Aligos Therapeutics Inc. (NASDAQ:ALGS) shares are trending overnight after the company announced a licensing milestone and regulatory progress for its chronic hepatitis B treatment candidate in China.
Aligos closed Monday’s regular session at $5.85, up 4.65%. Shares continued higher in after-hours trading, gaining 12.48% to $6.58.
Aligos Therapeutics is a clinical-stage biotechnology company developing therapies for liver and viral diseases, including chronic hepatitis B virus infection, MASH, obesity and coronaviruses.
Licensing Payment, China Regulatory Milestone
The after-hours rally followed Aligos’ announcement that it received a $25M upfront payment under its exclusive licensing agreement with Xiamen Amoytop Biotech Co., Ltd., a China-based biopharmaceutical company, for pevifoscorvir sodium in Greater China.
The company also announced that pevifoscorvir sodium received Breakthrough Therapy Designation from the Center for Drug Evaluation of China’s National Medical Products Administration for the treatment of chronic hepatitis B virus infection.
Under the agreement, Aligos remains eligible to receive up to $420 million in clinical, regulatory and commercial milestone payments, along with tiered high single-digit royalties on net sales in the licensed territories. The company retains development and commercialization rights outside Greater China.
Trading Metrics
Aligos Therapeutics has a market capitalization of approximately $36.2 million.
The stock has traded between a 52-week high of $13.69 and a 52-week low of $4.82.
Over the past 12 months, ALGS shares have declined approximately 22%.
Benzinga Edge Stock Rankings indicate negative short, medium and long-term price trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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