Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
H.C. Wainwright has initiated coverage on Aligos Therapeutics Inc. (NASDAQ: ALGS) with a Buy rating and set a price target of $75.00. The firm highlighted that Aligos, a clinical-stage biopharmaceutical company, has two key assets with large market opportunities that are currently undervalued by the market.
To be sure, Aligos Therapeutics, founded in 2018, focuses on creating small-molecule therapeutics for chronic liver diseases and viral infections.
The company's experienced management team is advancing drug candidates to meet the medical needs of metabolic dysfunction associated with steatohepatitis (MASH), chronic hepatitis B virus (HBV), and coronavirus.
The positive outlook from H.C. Wainwright is based on the potential of ALG-055009, a THR-beta agonist for MASH in a Phase 2a study, and ALG-000184, a capsid assembly modulator for HBV in a Phase 1b trial.
ALG-055009, referred to as '009, which is currently in the Phase 2a HERALD study, is recognized for its once-daily oral administration, enhanced pharmacokinetics, and higher potency and selectivity compared to competitors. It is considered to have a best-in-class profile with a clinically validated mechanism of action. ALG-000184, known as '184, is in the final part of its Phase 1b trial and is noted for its picomolar potency and improved absorption, which contributes to its dual mechanism of action aimed at achieving a functional cure for HBV.
Near-term catalysts for Aligos include top-line safety and 12-week MRI-PDFF data from the HERALD study expected in early Q4 2024, additional interim data from the Phase 1b trial of '184 at The Liver Meeting in November, and ongoing Phase 2-enabling activities for '184, with a planned Phase 2 IND filing in Q1 2025. The firm also sees potential upside in Aligos' protease inhibitor program for Covid-19 and a preclinical oligonucleotide program for MASH in collaboration with Merck.
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