Apollomics Inc. (NASDAQ: APLM) entered into a $2 million unsecured convertible promissory note on March 30 2026 with Chairman and CEO Hung‑Wen Chen. The note carries a 0% interest rate and is intended to provide working capital for the company’s clinical development programs and general corporate operations.
The note will automatically convert into Apollomics equity at a 20% discount to the lowest share price in a subsequent equity financing that raises at least $10 million. If no such financing occurs before the 18‑month maturity, Mr. Chen may elect to convert the principal based on the 10‑day average closing price. The transaction was reviewed and approved by the independent Audit Committee and Board of Directors, with Mr. Chen abstaining, in accordance with related‑party transaction governance standards.
Apollomics’ cash position was $2.1 million as of June 30 2025, giving the company a runway into the third quarter of 2026. The bridge financing provides additional liquidity to sustain ongoing trials, particularly for its lead candidate vebreltinib (APL‑101), a c‑Met inhibitor for non‑small cell lung cancer. The company has previously raised $4.1 million in a PIPE offering and has faced a Nasdaq delisting notification, underscoring the need for timely capital.
The convertible nature of the note means that a future equity financing of $10 million or more will dilute existing shareholders, as the principal will convert at a discount. No market reaction or analyst commentary has been reported following the announcement, and no direct management statements were found in the fact‑check sources.
The financing reflects Apollomics’ ongoing effort to secure liquidity while it continues to advance its clinical pipeline. The note’s terms provide a balance between immediate cash support and potential future dilution, a common trade‑off for clinical‑stage companies seeking to bridge funding gaps until larger capital raises can be secured.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.