Aligos Therapeutics is a clinical-stage biotech developing small molecule drugs for liver diseases and viral infections. Aligos has no approved products and generates no commercial revenue, funding operations through equity financing and government grants. Its pipeline has three lead candidates. Pevifoscorvir sodium is a Capsid Assembly Modulator for chronic hepatitis B virus (HBV), currently in Phase 2, and is Aligos' most advanced asset. Aligos argues pevifoscorvir sodium disrupts HBV replication and may prevent establishment of the viral reservoir (cccDNA) that makes HBV difficult to eradicate — a differentiation claim versus competing therapies. ALG-055009 is a thyroid hormone receptor beta agonist for MASH (metabolic dysfunction-associated steatohepatitis) and obesity that has completed Phase 2a; Aligos is actively seeking a partner or out-licensee to fund further development. ALG-097558 is a coronavirus protease inhibitor in Phase 2, partially funded by NIH/NIAID grants, designed to be used without ritonavir boosting — the key limitation of Pfizer's Paxlovid. Aligos' strategy is to commercialize independently in specialty indications like HBV, where the relevant physician audience is focused, and to out-license or partner for broader markets like MASH and coronavirus. Aligos in-licenses foundational IP for its HBV and coronavirus programs from Emory University and KU Leuven, respectively, and outsources manufacturing to CDMOs.