Apollomics Reports First-Half 2026 Financial Results

Lower research and administrative expenses accompanied zero revenue and a wider working-capital deficit.

Rhea-AI Summary

Apollomics (APLM) reported a narrower first-half 2026 net loss, while revenue fell to zero and cash declined. Net loss was $8.818 million, or $4.06 per basic and diluted share, versus $12.536 million, or $11.37 per share, a year earlier. Revenue fell from $8.500 million. Research and development expenses declined to $1.971 million from $4.620 million; administrative expenses fell to $4.468 million from $14.488 million.

Cash and cash equivalents were $1.011 million at June 30, versus $3.276 million at December 31, 2025. Net current liabilities widened to $9.285 million from $0.275 million. In August, Apollomics signed private-placement subscription agreements for approximately $10.0 million in aggregate gross consideration. Phase 2 studies of vebreltinib remained ongoing. APL-502 has Chinese approval for three cancer indications; Apollomics retains rights outside China.

11 points · 1 major

MixediHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 7 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.August subscription agreements cover a private placement with approximately $10.0 million in aggregate gross consideration. 18% of market cap
• Moderate pointFirst-half net loss narrowed to $8.818 million from $12.536 million; loss per share fell to $4.06 from $11.37.
• Minor pointResearch and development expenses fell to $1.971 million from $4.620 million in the first half.
• Minor pointAdministrative expenses fell to $4.468 million from $14.488 million in the first half.
• Minor pointAPL-502 has Chinese approval for three cancer indications; Apollomics retains global rights outside China.

6 minor points

• Minor pointVebreltinib Phase 2 studies remain ongoing to advance global development.
• Minor pointAPL-501 Phase 1 data from an Australian solid-tumor study are being analyzed.
• Minor pointIntangible-asset impairment was zero, versus $1.500 million in the prior-year first half.
• Minor pointOther income rose to $154,000 from $83,000 in the first half.
• Minor pointFair-value losses on financial liabilities declined to $60,000 from $384,000 in the first half.
• Minor pointForeign exchange losses decreased to $42,000 from $77,000 in the first half.

Negative

• Moderate pointFirst-half revenue fell to zero from $8.500 million a year earlier.
• Moderate pointCash and cash equivalents declined to $1.011 million at June 30 from $3.276 million at year-end.
• Moderate pointNet current liabilities widened to $9.285 million at June 30 from $0.275 million at year-end.
• Moderate pointTotal deficit widened to $10.821 million at June 30 from $3.188 million at year-end.
• Moderate pointExpected credit-loss impairment was $2.300 million in the first half, versus zero a year earlier. 4.2% of market cap

2 minor points

• Minor pointRelated-party convertible note totaled $1.326 million, with a $732,000 derivative liability; neither existed at year-end.
• Minor pointFinance costs rose to $130,000 from $35,000 in the first half.

Key Figures

Cash and equivalents: $1.0 million vs. $3.3 million Private placement gross consideration: $10.0 million R&D expenses: $2.0 million vs. $4.6 million +3 more

Cash and equivalents

$1.0 million vs. $3.3 million

June 30, 2026 vs. December 31, 2025

Private placement gross consideration

$10.0 million

August 2026 definitive subscription agreements

R&D expenses

$2.0 million vs. $4.6 million

First half 2026 vs. first half 2025

G&A expenses

$4.5 million vs. $14.5 million

First half 2026 vs. first half 2025

Net loss

$(8.8) million vs. $(12.5) million

First half 2026 vs. first half 2025

Loss per share

$(4.06) vs. $(11.37)

Basic and diluted; first half 2026 vs. first half 2025

Previous Earnings Reports

1 past event · Latest: Dec 22

Same Type 1 event

1. Dec 22

   First-half earnings

   24h Move

   -6.8%

   First-half results reported a narrower net loss, while cash was lower; shares fell 6.81%.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

cns-penetrant, nsclc, igg4 monoclonal antibody, convertible note, +1 more

5 terms

cns-penetrant medical

"a highly specific, CNS-penetrant c-MET inhibitor"

A CNS-penetrant drug or molecule can reach and act inside the brain and spinal cord by crossing the blood–brain barrier, the body’s protective filter around the central nervous system. For investors, CNS penetration signals whether a therapy might treat neurological or psychiatric conditions, which affects potential market size, development difficulty, safety risks and regulatory scrutiny — think of it as whether a delivery can pass a guarded gate to reach a secure building.

nsclc medical

"for treating NSCLC, brain tumors, and other solid tumors"

NSCLC stands for non-small cell lung cancer, which is the most common type of lung cancer. It develops in the lungs and can spread to other parts of the body, making it serious but often treatable if caught early. Understanding NSCLC helps people recognize the importance of lung health and early detection.

igg4 monoclonal antibody medical

"an investigational, humanized, IgG4 monoclonal antibody"

A IgG4 monoclonal antibody is a lab-made protein designed to bind one specific target in the body and belongs to the IgG4 subclass of human antibodies. Think of it as a highly specific key cut from a particular metal: it locks onto a single molecular “lock,” and because IgG4 tends to cause less inflammation than other antibody types, this can affect safety, dosing and commercial appeal—key factors investors watch for clinical success and market potential.

convertible note financial

"Convertible Note, related party"

A convertible note is a type of loan that a company gets from investors, which can later be turned into company shares instead of being paid back in cash. It matters because it helps startups raise money quickly without setting a fixed value for the company right away, making it easier to grow and attract investors.

fvtpl financial

"Warrant liabilities at fair value through profit and loss (“FVTPL”)"

Fair value through profit or loss (FVTPL) is an accounting classification for financial assets or liabilities that are measured at their current market value, with any gains or losses recorded immediately in the company’s income statement. Investors care because this makes a firm’s reported profit more sensitive to market swings—similar to re-pricing items in a garage sale every day and counting the daily differences as your income—so it can increase volatility in reported earnings and affect valuation assessments.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• Phase 2 studies ongoing to advance global development of vebreltinib, a highly potent, de-risked and differentiated c-MET Inhibitor with best-in-class and first-in-class potential.
  

FOSTER CITY, Calif., Nov. 09, 2026 (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 2026 ended June 30, 2026.

Pipeline Update

• Tumor Inhibitor
  
  • Vebreltinib (APL-101) – a highly specific, CNS-penetrant c-MET inhibitor for treating NSCLC, brain tumors, and other solid tumors with MET dysregulation. It also shows significant potential in combination regimens, particularly with EGFR inhibitors.
    
• Immuno-Oncology Product Candidates
  
  • APL-501 (Anti-PD-1 antibody): APL-501 is an investigational, humanized, IgG4 monoclonal antibody that selectively binds to PD-1 on T lymphocytes and other immune cells. The China rights of APL-501 were out-licensed to Apollomics’ partner, Edding Genor Group Holdings Ltd., while Apollomics retains the global (ex-China) rights. Data from a Phase 1 study in advanced or relapsed/refractory solid tumors in Australia are currently being analyzed.
    
  • APL-502 (benmelstobart, anti-PD-L1 antibody): APL-502 is a novel IgG1 humanized monoclonal antibody against PD-L1. The China rights of APL-502 were out-licensed to Apollomics’ partner, Chia Tai-Tianqing Pharmaceutical Holdings Co., Ltd. (CTTQ), while Apollomics retains the global (ex-China) rights.
    
  • APL-502 (also known as TQB-2450 in China) has been approved by China’s NMPA for three distinct indications: extensive-stage small cell lung cancer, recurrent/metastatic endometrial cancer, and late-stage unresectable or metastatic renal cell carcinoma. Ongoing clinical trials include the following tumor types: NSCLC, esophageal cancer, ovarian cancer, hepatocellular carcinoma, cholangiocarcinoma, primary mediastinal large B cell lymphoma, and alveolar soft part sarcoma.
    

First-Half 2026 Financial Results Ended June 30, 2026

• Cash, cash equivalents, bank deposits and money market funds as of June 30, 2026, were $1.0 million, compared to $3.3 million as of December 31, 2025. In August 2026, the Company entered into definitive subscription agreements for a private placement transaction with certain accredited investors, for an aggregate gross consideration of approximately $10.0 million.
• Research and development (R&D) expenses were $2.0 million, including share-based compensation of less than $0.1 million, for the first half of 2026, compared to $4.6 million, including share-based compensation of $0.8 million, for the first half of 2025.
• General and administrative (G&A) expenses were $4.5 million, including share-based compensation of $1.0 million, for the first half of 2026, compared to $14.5 million, including share-based compensation of $2.5 million, for the first half of 2025.
• Net loss for the first half of 2026 was $(8.8) million, or $(4.06) per basic and diluted share, compared to net loss of $(12.5) million, or $(11.37) per basic and diluted share, for the first half of 2025.  

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.

Investor Contacts

Peter Lin, Chief Financial Officer
Apollomics, Inc.
1-650-209-4055
peter.lin@apollomicsinc.com

Peter Vozzo
ICR Healthcare
1-443-213-0505
Peter.Vozzo@icrhealthcare.com   

APOLLOMICS INC. UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (All amounts in thousands of $)
		As of June 30, 2026 (Unaudited)					As of December 31, 2025
Non-current assets
Plant and equipment, net		$	-				$	3
Right-of-use assets			486					577
Rental deposits			82					83
Total non-current assets			568					663
Current assets
Deposits, prepayments and deferred expenses			635					470
Accounts receivable			-					2,305
Cash and cash equivalents			1,011					3,276
Total current assets			1,646					6,051
Total assets			2,214					6,714
Current liabilities
Convertible Note, related party			1,326					-
Derivative liability – Convertible Note, related party			732					-
Other payables and accruals			8,696					6,117
Lease liabilities, current portion			177					209
Total current liabilities			10,931					6,326
Net current liabilities			(9,285	)				(275	)
Total assets less current liabilities			(8,717	)				388
Non-current liabilities
Lease liabilities, non-current portion			364					434
Warrant liabilities at fair value through profit and loss (“FVTPL”)			222					124
Other non-current liabilities			1,518					3,018
Total non-current liabilities			2,104					3,576
Net (liabilities)			(10,821	)				(3,188	)
Equity
Share capital			22					21
Share premium			670,551					670,384
Reserves			39,186					38,169
Accumulated deficits			(720,580	)				(711,762	)
Total deficit		$	(10,821		)		$	(3,188	)

APOLLOMICS INC. UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (All amounts in thousands of $, except for per share data)
		Six Months Ended June 30,
		2026				2025
Revenue		$	-			$	8,500
Other income			154				83
Foreign exchange losses			(42	)			(77	)
Fair value change of financial liabilities at FVTPL			(60	)			(384	)
Research and development expenses			(1,971	)			(4,620	)
Administrative expenses			(4,468	)			(14,488	)
Impairment of intangible assets			-				(1,500	)
Finance costs			(130	)			(35	)
Impairment loss on financial assets – expected credit loss			(2,300	)			-
Other expense			-				(14	)
Loss before taxation			(8,817	)			(12,535	)
Income tax expenses			(1	)			(1	)
Loss and total comprehensive loss for the period, net of taxation, attributable to owners of the Company		$	(8,818	)		$	(12,536	)
Loss per share
Basic and Diluted loss per common share		$	(4.06	)		$	(11.37	)
Weighted average number of common shares outstanding – Basic and Diluted			2,174				1,103

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Apollomics' first-half 2026 financial results?

Apollomics reported zero revenue and an $8.818 million net loss for the six months ended June 30, 2026. The prior-year period had $8.500 million in revenue and a $12.536 million net loss. Basic and diluted loss per share narrowed to $4.06 from $11.37.

How much was Apollomics' August 2026 private placement?

Apollomics entered definitive subscription agreements in August 2026 for a private placement with approximately $10.0 million in aggregate gross consideration. The agreements were with certain accredited investors.

Which cancers is Apollomics' APL-502 approved to treat in China?

APL-502, also called benmelstobart, has Chinese approval for extensive-stage small cell lung cancer, recurrent/metastatic endometrial cancer, and late-stage unresectable or metastatic renal cell carcinoma. China rights were out-licensed to Chia Tai-Tianqing Pharmaceutical Holdings, while Apollomics retains global rights outside China.

What is the status of Apollomics' APL-501 development and licensing?

Data from an Australian Phase 1 study of APL-501 in advanced or relapsed/refractory solid tumors are being analyzed. China rights were out-licensed to Edding Genor Group Holdings, while Apollomics retains global rights outside China.