Full Press Release Details
FOSTER CITY, Calif., Dec. 22, 2025 (GLOBE NEWSWIRE) -- Apollomics Inc. (Nasdaq: APLM) (“Apollomics” or the “Company”), a late-stage clinical biopharmaceutical company developing multiple oncology drug candidates to address difficult-to-treat and treatment-resistant cancers, today announced financial results for the first half of 2025 ended June 30, 2025.
First Half 2025 Financial Results Ended June 20, 2025
Cash, cash equivalents, bank deposits and money market funds as of June 30, 2025, were $2.1 million, compared to $9.8 million as of December 31, 2024. Based on current projections, the Company believes its cash position is sufficient to fund planned operations into the third quarter of 2026.
Research and development (R&D) expenses were $4.6 million, including share-based compensation of $0.8 million, for the first half of 2025, compared to $16.9 million, including share-based compensation of $3.7 million, for the first half of 2024.
General and administrative (G&A) expenses were $14.5 million, including share-based compensation of $2.5 million, for the first half of 2025, compared to $10.2 million, including share-based compensation of $4.5 million, for the first half of 2024.
Net loss for the first half of 2025 was $(12.5) million, or $(11.37) per basic and diluted share, compared to a net loss of $(35.2) million, or $(37.53) per basic and diluted share, for the first half of 2024.
About Apollomics Inc.
Apollomics Inc. is an innovative clinical-stage biopharmaceutical company focused on the discovery and development of oncology therapies with the potential to be combined with other treatment options to harness the immune system and target specific molecular pathways to inhibit cancer. Apollomics’ lead program is 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, which is currently in a Phase 2 multicohort clinical trial in the United States and other countries.
For more information, please visit www.apollomicsinc.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes statements that constitute “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of present or historical fact included in this press release, regarding Apollomics’ strategy, prospects, plans, objectives and anticipated outcomes from the development and commercialization of vebreltinib are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “seek,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. In addition, Apollomics cautions you that the forward-looking statements contained in this press release are subject to unknown risks, uncertainties and other factors, including those risks and uncertainties discussed in the Annual Report on Form 20-F for the year ended December 31, 2025, filed by Apollomics Inc. with the U.S. Securities and Exchange Commission (“SEC”) under the heading “Risk Factors” and the other documents filed, or to be filed, by Apollomics with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that Apollomics has filed and will file from time to time with the SEC. Forward-looking statements speak only as of the date made by Apollomics. Apollomics undertakes no obligation to update publicly any of its forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law.
Peter Lin, Chief Financial Officer
| APOLLOMICS INC. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (All amounts in thousands of $) | ||||||||
| As of June 30, 2025 (Unaudited) | As of December 31, 2024 | |||||||
| Non-current assets | ||||||||
| Plant and equipment, net | $ | 10 | $ | 92 | ||||
| Right-of-use assets | 670 | 927 | ||||||
| Intangible assets, net | 228 | 1,737 | ||||||
| Rental deposits | 82 | 75 | ||||||
| Total non-current assets | 990 | 2,831 | ||||||
| Current assets | ||||||||
| Deposits, prepayments and deferred expenses | 835 | 501 | ||||||
| Accounts receivable | 7,200 | — | ||||||
| Cash and cash equivalents | 2,094 | 9,766 | ||||||
| Total current assets | 10,129 | 10,267 | ||||||
| Total assets | 11,119 | 13,098 | ||||||
| Current liabilities | ||||||||
| Other payables and accruals | 10,269 | 7,166 | ||||||
| Lease liabilities, current portion | 203 | 233 | ||||||
| Total current liabilities | 10,472 | 7,399 | ||||||
| Net current (liabilities) assets | (343 | ) | 2,868 | |||||
| Total assets less current liabilities | 647 | 5,699 | ||||||
| Non-current liabilities | ||||||||
| Lease liabilities, non-current portion | 541 | 733 | ||||||
| Warrant liabilities at fair value through profit and loss (“FVTPL”) | 486 | 102 | ||||||
| Other non-current liabilities | 4,018 | — | ||||||
| Total non-current liabilities | 5,045 | 835 | ||||||
| Net (liabilities) assets | (4,398 | ) | 4,864 | |||||
| Equity | ||||||||
| Share capital | 11 | 11 | ||||||
| Share premium | 666,528 | 666,528 | ||||||
| Reserves | 42,422 | 39,148 | ||||||
| Accumulated deficits | (713,359 | ) | (700,823 | ) | ||||
| Total (deficit) equity | $ | (4,398 | ) | $ | 4,864 |
| APOLLOMICS INC. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (UNAUDITED) (All amounts in thousands of $, except for per share data) | ||||||||
| Six Months Ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Revenue | $ | 8,500 | $ | — | ||||
| Other income | 83 | 1,737 | ||||||
| Foreign exchange losses | (77 | ) | (2 | ) | ||||
| Fair value change of financial assets at FVTPL | — | 198 | ||||||
| Fair value change of financial liabilities at FVTPL | (384 | ) | 164 | |||||
| Research and development expenses | (4,620 | ) | (16,926 | ) | ||||
| Administrative expenses | (14,488 | ) | (10,153 | ) | ||||
| Impairment of intangible assets | (1,500 | ) | (10,000 | ) | ||||
| Finance costs | (35 | ) | (134 | ) | ||||
| Other expense | (14 | ) | (90 | ) | ||||
| Loss before taxation | (12,535 | ) | (35,206 | ) | ||||
| Income tax expenses | (1 | ) | 0 | |||||
| Loss and total comprehensive loss for the period, net of taxation, attributable to owners of the Company | $ | (12,536 | ) | $ | (35,206 | ) | ||
| Loss per share | ||||||||
| Basic loss per common share | $ | (11.37 | ) | $ | (37.53 | ) | ||
| Diluted loss per common share | $ | (11.37 | ) | $ | (37.53 | ) | ||
| Weighted average number of common shares outstanding – Basic and Diluted | 1,103 | 938 |