Aligos Therapeutics, Inc. (NASDAQ: ALGS)

Sector: Healthcare Industry: Biotechnology CIK: 0001799448
Market Cap 46.02 Mn
P/B 0.64
P/E -0.53
P/S 17.39
ROIC (Qtr) -93.11
Div Yield % 0.00
Rev 1y % (Qtr) -41.61
Total Debt (Qtr) 6.07 Mn
Debt/Equity (Qtr) 0.08
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About

Aligos Therapeutics, Inc., a clinical-stage biopharmaceutical company, is making significant strides in the development of novel therapeutics to address unmet medical needs in liver diseases and viral infections. The company's shares are listed on the NASDAQ stock exchange under the ticker symbol ALGS. Aligos' operations are centered around the research, development, and commercialization of pharmaceutical products, and it has a presence in several countries, including the United States. Aligos' primary revenue generation sources are from the development...

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Investment thesis

Bull case

  • Healthy cash reserves of 42.06M provide 11.80x coverage of short-term debt 3.56M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 109.76M provides 18.10x coverage of total debt 6.07M, indicating robust asset backing and low credit risk.
  • Tangible assets of 109.76M provide exceptional 653.36x coverage of deferred revenue 168000, showing strong service capability backing.
  • Short-term investments of 57.15M provide solid 4.15x coverage of other current liabilities 13.77M, indicating strong liquidity.
  • Tangible assets of 109.76M provide robust 7.97x coverage of other current liabilities 13.77M, indicating strong asset backing.

Bear case

  • Investment activities of (15.83M) provide weak support for R&D spending of 68.45M, which is -0.23x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (79.16M) provides insufficient coverage of deferred revenue obligations of 168000, which is -471.20x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (79.16M) shows concerning coverage of stock compensation expenses of 5.29M, with a -14.96 ratio indicating potential earnings quality issues.
  • Free cash flow of (79.53M) provides weak coverage of capital expenditures of 373000, with a -213.23 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (79.16M) provides minimal -254.54x coverage of tax expenses of 311000, suggesting potential tax planning inefficiencies or unsustainable tax positions.

Peer comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,204.25 Bn -1,306.67 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 486.51 Bn 7,097.20 97.84 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 122.05 Bn 30.87 10.17 1.85 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 83.00 Bn 18.42 5.79 2.71 Bn
5 ARGX Argenx Se 50.78 Bn 33.71 26,480.10 -
6 ALNY Alnylam Pharmaceuticals, Inc. 43.66 Bn 139.17 11.76 2.97 Bn
7 BNTC Benitec Biopharma Inc. 43.61 Bn -941.82 0.00 0.00 Bn
8 INSM INSMED Inc 28.88 Bn -24.40 64.61 0.74 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.31 11.06
EV to Cash from Ops. EV/CFO -0.43 26.32
EV to Debt EV to Debt 5.63 762.61
EV to EBIT EV/EBIT -0.46 -13.49
EV to EBITDA EV/EBITDA -0.41 8.61
EV to Free Cash Flow [EV/FCF] EV/FCF -0.43 25.66
EV to Market Cap EV to Market Cap 0.74 203.37
EV to Revenue EV/Rev 12.90 156.31
Price to Book Value [P/B] P/B 0.64 20.59
Price to Earnings [P/E] P/E -0.53 -0.88
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -12.64
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.17
Dividend per Basic Share Div per Share (Qtr) 0.00 0.01
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -0.14
Interest Coverage Int. cover (Qtr) -6.03 956.66
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -242.20 7.87
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 18.66 753.48
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 8.54 -57.63
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 8.55 8.83
EBIT Growth (1y) % EBIT 1y % (Qtr) 8.54 -67.21
EBT Growth (1y) % EBT 1y % (Qtr) -12.35 -23.74
EPS Growth (1y) % EPS 1y % (Qtr) -68.46 -7.02
FCF Growth (1y) % FCF 1y % (Qtr) 6.55 -40.48
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -55.88 264.51
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.02 0.14
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 1.91 3.92
Current Ratio Curr Ratio (Qtr) 4.70 7.33
Debt to Equity Ratio Debt/Equity (Qtr) 0.08 0.48
Interest Cover Ratio Int Coverage (Qtr) -6.03 956.66
Times Interest Earned Times Interest Earned (Qtr) -6.03 956.66
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -2,689.60 -17,888.70
EBIT Margin % EBIT Margin % (Qtr) -2,792.71 -18,246.34
EBT Margin % EBT Margin % (Qtr) -3,255.90 -19,108.08
Gross Margin % Gross Margin % (Qtr) 100.00 -10.30
Net Profit Margin % Net Margin % (Qtr) -3,267.60 -19,056.96