(RTTNews) - Apollomics Inc. (APLM), a clinical-stage biopharmaceutical company, reported a narrower loss in the first half, driven by revenue and lower research and development expenses for the half-year ended on June 30.
Loss attributable to the owners of the company narrowed to $12.56 million from $35.21 million in the year-ago period.
On a per share basis, the loss shrank to $11.37 from $37.53 per share in the prior year.
Research and development expenses decreased to $4.62 million from $16.93 million in the prior year.
For the first half period, Apollomics reported revenue of $8.5 million, compared with no revenue in the year-ago period.
Also, cash equivalents, bank deposits and money market funds of Apollomics amounted to $2.1 million, and the firm believes its cash position is sufficient to fund planned operations into the third quarter of 2026.
Apollomics' lead program includes vebreltinib (APL-101), a potent, selective c-Met inhibitor for the treatment of non-small cell lung cancer and other advanced tumors with c-Met alterations. Currently, vebreltinib is in a Phase 2 multicohort clinical trial in the United States.
Apollomics shares closed Monday's trade at 18.49%, up 10.55%
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