Apollomics Inc 6-K, filed Mar 28, 2024
Apollomics Inc. (APLM)
About this 6-K
Apollomics Inc filed this 6-K on March 28, 2024.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the Month of March 2024
Commission File Number: 001-41670
Apollomics Inc.
(Translation of registrant’s name into English)
989 E. Hillsdale Blvd., Suite 220
Foster City, CA 94404
Telephone: (650) 209-4055
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
EXPLANATORY NOTE
On March 28, 2024, Apollomics Inc. issued a press release titled “Apollomics Highlights Clinical Progress and Reports Full Year 2023 Financial Results.” A copy of this press release is furnished as Exhibit 99.1 herewith.
EXHIBIT INDEX
Exhibit No. |
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Description |
99.1 |
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Press release titled “Apollomics Highlights Clinical Progress and Reports Full Year 2023 Financial Results” (furnished herewith) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Apollomics Inc. |
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Date: March 28, 2024 |
By: |
/s/ Guo-Liang Yu |
|
|
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Name |
Guo-Liang Yu, Ph.D. |
|
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Title: |
Chief Executive Officer |
Exhibit 99.1
Apollomics Highlights Clinical Progress and Reports Full Year 2023 Financial Results
FOSTER CITY, CALIF. – March 28, 2024 – 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 full year ended December 31, 2023, and highlighted progress of its pipeline.
“2023 was a year of significant accomplishment as we advanced the vebreltinib registrational program for the treatment of specific patient populations with non-small cell lung cancer (NSCLC) and other solid tumors with MET dysregulation. In addition, we finished patient enrollment for our Phase 3 bridging study in China for uproleselan and made progress in the development of other product candidates,” said Guo-Liang Yu, Ph.D., Chairman and Chief Executive Officer of Apollomics. “We remain on track to generate key clinical data across our pipeline and, given the data to date, are optimistic about the outcomes.”
Pipeline Update
1
Business Highlights
2
Full Year 2023 Financial Results
Full Year 2023 Financial Results Conference Call
Apollomics’ management team will host a conference call and webcast Thursday, March 28, 2024 at 8:30 a.m. ET to discuss the financial results and provide a corporate update.
A live webcast will be available at https://ir.apollomicsinc.com/news-events/events.
Participants may also pre-register any time before the call here. Once registration is completed, participants will be provided a dial-in number with a personalized conference code to access the call. Please dial 15 minutes prior to the start time.
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 currently has a pipeline of nine drug candidates across multiple programs, six of which are currently in the clinical stage of development. Apollomics’ lead programs include 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, and uproleselan (APL-106), a specific E-Selectin antagonist that has the potential
3
to be used adjunctively with standard chemotherapy to treat acute myeloid leukemia. For more information, please visit http://www.apollomics.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, are forward-looking statements. When used in this press release, the words “potential,” “could,” “should,” “will,” “may,” “believe,” “estimate,” “expect,” “look,” “forward,” 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. Apollomics cautions you that its forward-looking statements are subject to unknown risks and uncertainties that could cause actual results to differ materially from those indicated in the Company’s forward-looking statements, including: (i) the impact of any current or new government regulations in the United States and China affecting Apollomics’ operations and the continued listing of Apollomics’ securities; (ii) the inability to achieve successful clinical results or to obtain licensing of third-party intellectual property rights for future discovery and development of Apollomics’ oncology projects; (iii) the failure to commercialize product candidates and achieve market acceptance of such product candidates; (iv) the failure to protect intellectual property, and the risk of litigious claims, proceedings, litigation or other types of disputes related to Apollomics’ business, licenses or intellectual property; (v) breaches in data security; (vi) the risk that Apollomics may not be able to develop and maintain effective internal controls; (vii) unfavorable changes to the regulatory environment; and those risks and uncertainties discussed in the Annual Report on Form 20-F for the year ended December 31, 2023, filed by Apollomics Inc. with the U.S. Securities and Exchange Commission (“SEC”) on March 28, 2024, under the heading “Risk Factors” and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the Company can be found in the reports that Apollomics has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Forward-looking statements speak only as of the date made by the Company. 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.
CONTACTS
Investor Relations
Peter Vozzo ICR Westwicke
Peter.Vozzo@westwicke.com
+1-443-213-0505
Media Relations
Sean Leous ICR Westwicke
Sean.Leous@westwicke.com
+1-646-866-4012
4
APOLLOMICS INC.
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE LOSS
(All amounts in thousands of $, except for per share data)
|
|
|
Years Ended December 31, |
|
|||||||||
|
|
|
2021 |
|
|
2022 |
|
|
2023 |
|
|||
|
|
|
$ |
|
|
$ |
|
|
$ |
|
|||
Other income |
|
|
|
1,054 |
|
|
|
1,447 |
|
|
|
1,217 |
|
Other gains (losses) |
|
|
|
36 |
|
|
|
(829 |
) |
|
|
1,191 |
|
Fair value change of financial assets at fair value through profit and loss (“FVTPL”) |
|
|
|
2 |
|
|
|
323 |
|
|
|
821 |
|
Fair value change of financial liabilities at FVTPL |
|
|
|
— |
|
|
|
— |
|
|
|
1,597 |
|
Fair value change of convertible preferred shares |
|
|
|
(37,424 |
) |
|
|
(189,646 |
) |
|
|
(76,430 |
) |
Research and development expenses |
|
|
|
(35,568 |
) |
|
|
(35,457 |
) |
|
|
(34,193 |
) |
Administrative expenses |
|
|
|
(15,291 |
) |
|
|
(9,947 |
) |
|
|
(20,641 |
) |
Impairment loss of intangible asset |
|
|
|
(3,000 |
) |
|
|
— |
|
|
|
— |
|
Finance costs |
|
|
|
(83 |
) |
|
|
(93 |
) |
|
|
(150 |
) |
Other expense |
|
|
|
(4,522 |
) |
|
|
(6,608 |
) |
|
|
(46,003 |
) |
Loss before taxation |
|
|
|
(94,796 |
) |
|
|
(240,810 |
) |
|
|
(172,591 |
) |
Income tax expenses |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(10 |
) |
Loss and total comprehensive loss for the period, net of taxation, attributable to owners of the Company |
|
|
|
(94,797 |
) |
|
|
(240,811 |
) |
|
|
(172,601 |
) |
Loss per share |
|
|
|
|
|
|
|
|
|
|
|||
Basic and diluted ($) |
|
|
|
(3.37 |
) |
|
|
(8.44 |
) |
|
|
(2.32 |
) |
5
APOLLOMICS INC.
CONDENSED STATEMENTS OF FINANCIAL POSITION
(All amounts in thousands of $)
|
|
|
As of December 31, |
|
|||||
|
|
|
2022 |
|
|
2023 |
|
||
|
|
|
$ |
|
|
$ |
|
||
Non-current assets |
|
|
|
|
|
|
|
||
Plant and equipment, net |
|
|
$ |
485 |
|
|
$ |
161 |
|
Right-of-use assets |
|
|
|
991 |
|
|
|
425 |
|
Intangible assets |
|
|
|
14,778 |
|
|
|
14,757 |
|
Rental deposits |
|
|
|
124 |
|
|
|
119 |
|
Time deposits with maturity greater than twelve months |
|
|
|
4,307 |
|
|
|
— |
|
Total non-current assets |
|
|
|
20,685 |
|
|
|
15,462 |
|
Current assets |
|
|
|
|
|
|
|
||
Deposits, prepayments and deferred expenses |
|
|
|
1,176 |
|
|
|
2,108 |
|
Financial assets at fair value through profit and loss ("FVTPL") |
|
|
|
19,067 |
|
|
|
5,761 |
|
Time deposits with maturity less than twelve months |
|
|
|
2,872 |
|
|
|
— |
|
Cash and cash equivalents |
|
|
|
32,675 |
|
|
|
32,056 |
|
Total current assets |
|
|
|
55,790 |
|
|
|
39,925 |
|
Total assets |
|
|
|
76,475 |
|
|
|
55,387 |
|
Current liabilities |
|
|
|
|
|
|
|
||
Other payables and accruals |
|
|
|
11,675 |
|
|
|
9,162 |
|
Short term bank loans |
|
|
|
— |
|
|
|
4,236 |
|
Financial liabilities arising from unvested restricted shares |
|
|
|
68 |
|
|
|
— |
|
Lease liabilities, current portion |
|
|
|
614 |
|
|
|
158 |
|
Total current liabilities |
|
|
|
12,357 |
|
|
|
13,556 |
|
Net current assets |
|
|
|
43,433 |
|
|
|
26,369 |
|
Total assets less current liabilities |
|
|
|
64,118 |
|
|
|
41,831 |
|
Non-current liabilities |
|
|
|
|
|
|
|
||
Lease liabilities, noncurrent portion |
|
|
|
377 |
|
|
|
267 |
|
Warrant liabilities at FVTPL |
|
|
|
— |
|
|
|
330 |
|
Convertible preferred shares |
|
|
|
511,861 |
|
|
|
— |
|
Total non-current liabilities |
|
|
|
512,238 |
|
|
|
597 |
|
Net assets (liabilities) |
|
|
$ |
(448,120 |
) |
|
$ |
41,234 |
|
Equity |
|
|
|
|
|
|
|
||
Share capital |
|
|
|
41 |
|
|
|
9 |
|
Treasury shares |
|
|
|
(68 |
) |
|
|
— |
|
Share premium |
|
|
|
12,279 |
|
|
|
661,474 |
|
Reserves |
|
|
|
14,228 |
|
|
|
26,716 |
|
Accumulated losses |
|
|
|
(474,600 |
) |
|
|
(646,965 |
) |
Total equity (deficit) |
|
|
$ |
(448,120 |
) |
|
$ |
41,234 |
|
6