Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026

Aligos Therapeutics, Inc. (ALGS)

A forensic read on Aligos Therapeutics, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

-24.1

Distress distance

Watch

Earnings quality

Forensic signals

-45.2%

ROE

-39.1%

Revenue growth

The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Aligos Therapeutics, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -24.1, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

n/m (sign flip)

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets flipped from negative to positive FY2024→FY2025 (FY2024 $-66.0M to FY2025 $+35.2M) — the standard accruals ratio divides by the average of the two, which collapses toward zero right as the sign changes, so the resulting percentage is a denominator artifact, not a real accrual measurement. Treat this as a structural balance-sheet shift to understand on its own terms rather than a clean or dirty accruals read.

n/m (stock split)

FY2022–FY2025

Share count (stock split). Diluted share count changed -77% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -38.6%/yr figure isn't a real buyback/dilution read here.

229% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 229% of revenue in FY2025 — about $0.51 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 57.8% a year, small enough that totals and per-share results tell the same story.

Key fundamentals

Latest Revenue$2.2M

Revenue Growth YoY-39.1%

Revenue CAGR (3yr)+13.6%

Net Margin-1099.7%

Return on Equity-45.2%

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.