Aligos crumbles after axing lead asset, as analysts rue another flop in 'beaten-down' sector
Aligos Therapeutics took a beating Thursday after reporting it is stopping development on its lead program for chronic hepatitis B.
The biotech’s shares $ALGS closed down 57% and fell into penny stock territory Thursday, following a morning press release saying Aligos’ ALG-010133 program did not prove efficacious at the dose tested in a Phase I study. Additionally, the company concluded that higher doses were also unlikely to be effective, and ultimately decided to axe the candidate altogether.
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