BofA update shows where active managers are putting money
Apollomics Inc. (NASDAQ:APLM), a biotechnology company with a market capitalization of $6.26 million and a year-to-date stock decline of 36.1%, announced Thursday that it has terminated all of its U.S. employees, including Chief Executive Officer Dr. Guo-Liang Yu and Chief Financial Officer Dr. Matthew Plunkett, citing its current cash position. The terminations are effective Friday. According to InvestingPro data, the company has been quickly burning through cash, with negative EBITDA of $41.05 million.
The company also stated that it expects to discontinue all activities related to its SPARTA clinical trial as soon as possible.
In addition, Apollomics said it will hold an Extraordinary General Meeting of Shareholders on September 4, 2025, at 10:00 a.m. Pacific Time to seek shareholder approval for the winding up of the company.
The information is based on a statement released in a Securities and Exchange Commission filing.
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