Apollomics tumbles as cash crunch forces layoffs, trial shutdown

Apollomics

28/08/2025 12:18

** Shares of Apollomics APLM.O fall 16.5% to $5.20 premarket

** The biotech firm has terminated all U.S. staff, including its CEO and CFO, due to cash constraints, it said in a SEC filing

** Co also plans to halt all activities related to its lung cancer trial

** Last year, co said its blood cancer therapy combined with chemotherapy failed to show survival benefit over chemotherapy alone in a late-stage trial

** Apollomics has called a Sept 4 extraordinary general meeting of shareholders to vote on winding up of the company

** As of last close, stock down 36% YTD

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))