Apollomics, Inc. expects to achieve significant reductions in ongoing operating expenses due to the focus on enrolling new patients with Met Amplification in the SPARTA study and other cost reductions in the SPARTA operations, completion of the uproleselan Phase 3 bridging study in China, and the departure of the two executive officers as well as other employees. As a result of the focus on Met Amplification and the cost reduction measures, as offset by severance and certain wind-down expenses, Apollomics now expects that its current capital resources will fund planned operations into the third quarter of 2025. In addition, after payment of these severance and wind-down expenses, the Company believes that its ongoing operational expenses will be reduced by over 50%.

Vebreltinib is a potent, small molecule, orally bioavailable and highly selective c-MET inhibitor. It works by inhibiting the aberrant activation of the HGF/c-MET axis, a key pathway involved in tumor growth, proliferation, and the development of resistance to certain targeted therapies such as osimertinib. By targeting c-MET dysregulation, vebreltinib has demonstrated strong tumor inhibitory effect in a variety of preclinical c-MET dysregulated human gastric, hepatic, pancreatic and lung cancer xenograft animal models and patient-derived xenograft models (PDX).

Details on the Phase 1/2 SPARTA global clinical trial can be found on clinicaltrials.gov: NCT03175224. Apollomics is developing vebreltinib as single-agent cancer therapy in a variety of tumor types and actively assessing the potential of vebreltinib in combination with novel therapies. Vebreltinib recently received conditional approval from the National Medical Products Administration (NMPA) of China and is currently under clinical investigation and not approved for any use in any other regions in the world.