Apollomics Cash Falls to $3.3M, Posts $8.5M Licensing Revenue as Vebreltinib Nears H1 2027 IND
Apollomics ended 2025 with $3.3M in cash, down from $9.8M in 2024, after raising $4.1M via PIPE and generating $8.5M in licensing revenue. Vebreltinib is approved in China for three indications, has dosed over 600 patients globally, and targets a Phase 2/3 IND submission for NSCLC combo by H1 2027.
1. Full Year 2025 Financial Results
Apollomics ended 2025 with $3.3M in cash, cash equivalents and bank deposits, down from $9.8M at end-2024. The Company raised $4.1M in a September PIPE and recognized $8.5M in revenue from the upfront LaunXP licensing payment.
2. Vebreltinib Pipeline Progress
Vebreltinib (APL-101) is approved by China’s NMPA for METex14 skipping NSCLC, MET-amplified NSCLC and PTPRZ1-MET fusion high-grade gliomas, marking first approvals for the latter two indications. To date, over 600 patients and 170 healthy volunteers have been dosed in global clinical studies.
3. Global Trials and Collaborations
As of April 2026, the multi-cohort Phase 2 SPARTA study is underway at 25 sites across 10+ countries with 282 subjects enrolled. A Phase 2/3 IND for vebreltinib plus an EGFR inhibitor in NSCLC is planned for H1 2027 under FDA guidance, and LaunXP holds Asia ex-China combo rights.
4. Business and Strategic Updates
A new leadership team appointed in September 2025 has implemented cost reductions and resolved legacy legal matters, including Cayman litigation settlement. The Company has relaunched paused vebreltinib programs and is pursuing combination regimens to maximize therapeutic potential.