Aligos Therapeutics
ALGS on Nasdaq. Market value $20m.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
What to watch out for
Read the warning sign in its own filings
This is not advice.
Who owns it
None of the long-term investors we follow own it. 31 funds in all.
Largest holders overall
- Deep Track Capital, LP$3m
- Alyeska Investment Group, L.P.$2m
- Sio Capital Management$2m
- Marshall Wace, LLP$1mCut
- Woodline Partners LP$1m
- Vanguard Capital Management$1m
- Baker Bros. Advisors LP$479,227
- Hhlr Advisors$439,945
- D. E. Shaw$383,491Added
- UBS Group AG$346,119Added
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
6 investors own more than 5%.
- Alyeska Investment Group, L.P.Passive investorat least 10.0%(filed with 2 related holders)Since 31 March 2025
- Lawrence M. BlattInsider or founder5.6%+0.5 ptsSince 16 June 2026
What they said
General The Reporting Person intends to review his investments in the Issuer on a continuing basis. Any actions the Reporting Person might undertake will be dependent upon the Reporting Person's review of numerous factors, including, but not limited to: an ongoing evaluation of…
Read the filing - Sio Capital Management, LLCPassive investor5.5%−0.0 ptsSince 31 December 2025
- Armistice Capital, LLCPassive investorat least 5.0%(filed with 1 related holder)Since 31 December 2024
- Adage Capital Management, L.P.Passive investorat least 3.9%−5.5 pts(filed with 2 related holders)Since 30 June 2025
- EcoR1 Capital, LLCPassive investorat least 3.9%(filed with 2 related holders)Since 31 March 2025
- Woodline Partners LPPassive investorSold down below 5%Since 31 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Alyeska Investment Group, L.P. Passive investor | at least 10.0% (filed with 2 related holders) | 31 March 2025 | |
Lawrence M. Blatt Insider or founder | 5.6%+0.5 pts | 16 June 2026 | What they saidGeneral The Reporting Person intends to review his investments in the Issuer on a continuing basis. Any actions the Reporting Person might undertake will be dependent upon the Reporting Person's review of numerous factors, including, but not limited to: an ongoing evaluation of… Read the filing |
Sio Capital Management, LLC Passive investor | 5.5%−0.0 pts | 31 December 2025 | |
Armistice Capital, LLC Passive investor | at least 5.0% (filed with 1 related holder) | 31 December 2024 | |
Adage Capital Management, L.P. Passive investor | at least 3.9%−5.5 pts (filed with 2 related holders) | 30 June 2025 | |
EcoR1 Capital, LLC Passive investor | at least 3.9% (filed with 2 related holders) | 31 March 2025 | |
Woodline Partners LP Passive investor | Sold down below 5% | 31 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
1 serious warning sign in Aligos Therapeutics’ filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 5 Mar 2026, plus the 10-Q filed 6 Aug 2026 and 6 later 8-Ks.
Doubt it can keep going
SeriousThe company or its auditor warned it may not have enough money to last the next year.
“Our current operating plan and projected cash outflows for the upcoming periods raise substantial doubt about our ability to continue as a going concern for at least 12 months from the issuance of the financial statements included elsewhere in this Quarterly Report.”
Show the full paragraph
As of June 30, 2026, we had an accumulated deficit of $666.7 million, and cash and cash equivalents of $30.4 million. Our current operating plan and projected cash outflows for the upcoming periods raise substantial doubt about our ability to continue as a going concern for at least 12 months from the issuance of the financial statements included elsewhere in this Quarterly Report. We plan to raise additional capital to fund continued operations beyond the fourth quarter of 2026. We are taking steps to identify access to future capital and expect to be able to access capital in the future. However, there can be no assurance that any additional funding will be available to us on acceptable terms, if at all. If events or circumstances occur such that we do not obtain additional funding, it may be necessary to significantly reduce the scope of operations to reduce the current rate of spending, which could include reductions in staff and the need to delay, limit, reduce or terminate current or future product development, which could have a material adverse effect on our business, results of operations and financial condition. Moreover, even if financing efforts are successful and additional capital is obtained, available liquidity may still be insufficient to eliminate the aforementioned substantial doubt regarding our ability to continue as a going concern.
From the 10-Q filed 6 August 2026, Part I, Item 2. Management's Discussion and Analysis. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.