Aligos Therapeutics Inc. (ALGS) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, ALGS carries an RQD Score of 22 out of 100, a letter grade of E, and the verdict label "Roarable Strong Sell — Forensic Risk / Avoid." The five pillars are scored as follows: Fundamental Cash Engine at 4/20 (ROIC -35%; FCF yield 0%), Whale/13F Flow at 5/20 (institutional accumulation and options positioning), Insider Conviction at 3/20 (SEC Form 4 and Congressional PTR cluster flow), Macro Regime Fit at 5/20 (Beta 1.0; sector sensitivity), and Forensic Balance Sheet at 5/20 (Altman Z 2.5; Piotroski F 2/9; Debt/Equity 0.5). The weakest pillar is Insider Conviction, and the strongest pillars are merely mid-weak, so no single area offsets the overall picture. For a prospective investor, the cash-engine score is the most consequential reading: a negative ROIC and zero FCF yield indicate the business is not currently generating returns on capital, which places the equity's upside dependent on future events rather than present earnings power. The Piotroski F-Score of 2/9 and Altman Z of 2.5 frame the balance-sheet risk as material rather than benign. Taken together, the rating characterizes the stock as a forensic-risk name and frames avoidance as the model's stated conclusion. This is an analytical reading of the provided scores, not personalized financial advice.

Aligos Therapeutics Inc. (ALGS) is a NASDAQ-listed issuer in the Health Care sector, within the Biotechnology: Biological Products (No Diagnostic Substances) industry, per the company profile. The source data does not describe its products, customers, or revenue model. The reported revenue figures in the SEC financials ($2.2M in FY 2025, $3.6M in FY 2024, $6.2M in FY 2023) indicate a declining revenue base, but the source does not identify the revenue sources.

Per the SEC financials, operating income was negative in each reported period, and free cash flow was negative in each period, while the operating margin and net margin in the market data are both -60%. The gross margin is 0%. Per the Roarable RQD rating, ROIC is -35%, the Altman Z-Score is 2.5, and the Piotroski F-Score is 2/9. The Debt/Equity ratio is 0.5 per the rating. Reported cash declined from $37.0M in FY 2024 to $18.3M in FY 2025.

Per the recent news wire, the headlines are: an announcement that five abstracts were accepted for presentation at The Liver Meeting 2026; a TradingView report on Q3'26 earnings with a revenue estimate of 4.85M USD; a Yahoo Finance seasonal returns chart; a TradingKey complete U.S. stocks list; a Yahoo Finance Canada page for a different issuer (Adagene Inc.); and a TradingKey most-active-stocks report. All items are tagged YELLOW with impact label MARKET WIRE. The abstract acceptance is the only item describing a company-specific event; the others are aggregator or market-data pages. The Butterfly Supply-Chain Graph records no supply-chain links and no proprietary signals. Risk watch items include the negative operating margin, the decline in reported cash, and the Piotroski F-Score of 2/9.

Per the Butterfly Supply-Chain Graph, supply chain is recorded as NONE, with no butterfly links and no proprietary signals. The source data therefore provides no upstream or downstream dependency map, no sector-correlation metrics beyond the sector classification itself, and no identified 2nd-order bottlenecks. A prospective investor should note that the absence of mapped links is a data gap, not evidence of independence from supply-chain or sector risk.

• What products or therapeutic programs generate the reported revenue, and who are the customers?
• What is the source of the FY 2025 cash balance decline from $37.0M to $18.3M, and what is the stated runway at the reported FCF burn rate?
• Why are EPS, P/E, EV/EBITDA, and debt values absent for multiple periods, and what is the reported debt balance?
• What drove the FY 2024 net loss of $-131.2M relative to the FY 2024 operating loss of $-89.2M?
• Does the Q3'26 revenue estimate referenced in the news wire reflect company guidance, and how does it compare with reported results?