Apollomics tumbles as cash crunch forces layoffs, trial shutdown

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