The company's financial position is increasingly vulnerable, characterized by a compressed current ratio of 1.39 and a significant goodwill write-down from $14.8 million to $1.7 million as of 2024Q4.
| Total Current Assets | 10.27M | 6.05M | 10.27M | 39.92M | 55.79M | 99.37M | 156.71M | 75.43M |
| Cash & Short-Term Investments | 9.77M | 3.28M | 9.77M | 37.82M | 54.61M | 94.48M | 154.39M | 74.12M |
| Cash Only | 9.77M | 3.28M | 9.77M | 32.06M | 32.67M | 46.74M | 130.65M | 38.49M |
| Short-Term Investments | 0 | 0 | 0 | 5.76M | 21.94M | 47.74M | 23.74M | 35.63M |
| Accounts Receivable | 127K | 2.49M | 127K | 466K | 547K | 506K | 415K | 361K |
| Days Sales Outstanding | 129.93 | 106.92 | 234.12 | 207.17 | 618.13 | 92.34K | 82.41 | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 2.25M | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 7K | 0 | 120K | 122K | 140K |
| Total Non-Current Assets | 2.83M | 663K | 2.83M | 15.46M | 20.68M | 24.07M | 13.23M | 3.62M |
| Property, Plant & Equipment | 1.02M | 580K | 1.02M | 586K | 1.48M | 1.32M | 1.87M | 2.01M |
| Fixed Asset Turnover | 1.01x | 14.66x | 0.19x | 1.40x | 0.22x | 0.00x | 0.98x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.74M | 0 | 1.74M | 14.76M | 14.78M | 14.8M | 10.32M | 1.34M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 4.31M | 7.84M | 0 | 0 |
| Other Non-Current Assets | 75K | 83K | 75K | 119K | 124K | 113K | 1.04M | 96K |
| Total Assets | 13.1M | 6.71M | 13.1M | 55.39M | 76.47M | 123.44M | 169.94M | 79.05M |
| Asset Turnover | 0.02x | 1.27x | 0.02x | 0.01x | 0.00x | 0.00x | 0.01x | - |
| Asset Growth % | -183.77% | -48.74% | -76.35% | -27.57% | -38.05% | -27.36% | 114.97% | - |
| Total Current Liabilities | 7.4M | 6.33M | 7.4M | 13.56M | 12.36M | 13.56M | 12.08M | 4.58M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 4.24M | 0 | 2.15M | 3.76M | 768K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 68K | -508K | 6.72M | 2.62M |
| Current Ratio | 1.39x | 0.96x | 1.39x | 2.95x | 4.51x | 7.33x | 12.97x | 16.48x |
| Quick Ratio | 1.39x | 0.96x | 1.39x | 2.95x | 4.51x | 7.16x | 12.97x | 16.48x |
| Cash Conversion Cycle | 129.93 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 835K | 3.58M | 835K | 597K | 512.24M | 322.74M | 285.79M | 135.2M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 322.21M | 284.79M | 133.97M |
| Capital Lease Obligations | 2.25M | 434K | 733K | 267K | 377K | 528K | 999K | 1.23M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | -3.62M | 0 | 0 |
| Other Non-Current Liabilities | 102K | 3.14M | 102K | 330K | 511.86M | 322.21M | 0 | 0 |
| Total Liabilities | 8.23M | 9.9M | 8.23M | 14.15M | 524.6M | 336.3M | 297.87M | 139.78M |
| Total Debt | 966K | 643K | 966K | 4.66M | 991K | 325.41M | 289.55M | 135.97M |
| Net Debt | -8.8M | -2.63M | -8.8M | -27.39M | -31.68M | 278.67M | 158.91M | 97.48M |
| Debt / Equity | 0.20x | - | 0.20x | 0.11x | - | - | - | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.09x | - | - | - | - | - | - | - |
| Interest Coverage | - | -145.74x | -229.76x | -356.99x | -473.82x | -605.66x | -564.53x | -993.61x |
| Total Equity | 4.86M | -3.19M | 4.86M | 41.23M | -448.12M | -212.86M | -127.93M | -60.72M |
| Equity Growth % | 84.57% | -165.54% | -88.2% | 109.2% | -110.52% | -66.39% | -110.69% | - |
| Book Value per Share | 4.41 | -2.21 | 5.25 | 55.42 | -516.29 | -245.24 | -147.40 | -69.96 |
| Total Shareholders' Equity | 4.86M | -3.19M | 4.86M | 41.23M | -448.12M | -212.86M | -127.93M | -60.72M |
| Common Stock | 11K | 21K | 11K | 9K | 41K | 40K | 39K | 36K |
| Retained Earnings | -700.82M | -711.76M | -700.82M | -646.97M | -474.6M | -235.44M | -141.54M | -66.73M |
| Treasury Stock | 0 | 0 | 0 | 0 | -68K | -1.65M | 0 | 0 |
| Accumulated OCI | 3.44M | 3.44M | 3.44M | 26.72M | 3.4M | 12.29M | 5.08M | 251K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity exhaustion
As reported in financial statements, Apollomics' total assets have plummeted from $123.4 million in 2021 to just $13.1 million by 2024Q4, signaling a severe contraction in the company's resource base as it continues to fund clinical development without achieving a sustainable commercial revenue stream.
The consistent decline in total assets reflects a business model that is rapidly consuming its capital reserves to sustain late-stage oncology trials. This trajectory suggests that the company is approaching a critical juncture where the current asset base may no longer support the necessary operational scale for long-term viability.
Based on the company's reported figures, the current ratio has compressed to 1.39 as of 2024Q4, while cash reserves have dwindled to $9.8 million, indicating an extremely narrow buffer against ongoing operational burn and potential clinical trial cost overruns that warrant immediate investor scrutiny.
The sharp reduction in liquidity metrics from the 2021 peak suggests that the company's ability to meet short-term obligations is becoming increasingly precarious. Investors should monitor whether this liquidity profile necessitates further dilutive financing, as the current cash position appears insufficient to sustain long-term R&D requirements.
According to recent SEC filings, the company's equity position has faced significant volatility, with retained earnings reaching a deficit of $700.8 million by 2024Q4, highlighting the substantial cumulative losses incurred during the pursuit of its cross-border clinical development strategy for oncology assets.
The persistent and deepening deficit in retained earnings underscores the high-risk nature of the company's capital allocation, which has yet to yield a profitable return on invested capital. This trend suggests that shareholder value remains highly sensitive to the successful execution of clinical milestones rather than organic earnings growth.
As indicated by the company's reported balance sheet, goodwill has been written down from $14.8 million in 2023 to $1.7 million in 2024Q4, which may imply a significant reassessment of the carrying value of previously acquired intangible assets and clinical pipeline potential.
The substantial impairment of goodwill suggests that the market value of the company's underlying intellectual property may be lower than previously estimated. This development warrants further investigation into whether the current clinical pipeline still holds the strategic value originally anticipated by management during the SPAC transition.
Quick answers to the most common questions about buying APLM stock.
As of 2025, Apollomics, Inc. (APLM) had total assets of $6.7M including $6.1M in current assets.
Apollomics, Inc. (APLM) carries total debt of $0.6M, offset by $3.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Apollomics, Inc. (APLM) has total shareholders' equity (book value) of $-3.2M ($-2.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Apollomics, Inc. (APLM) reported a current ratio of 0.96x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.