Apollomics Announces Layoffs and Termination of Lung Cancer Trial Due to Cash Constraints

Apollomics said in an SEC filing that severe cash constraints are prompting it to lay off all U.S. employees, including its CEO and CFO, and end operations related to its lung cancer clinical trial. The moves follow a failed late-stage blood cancer trial that did not show a survival benefit over chemotherapy alone. The company has scheduled an extraordinary shareholder meeting to vote on liquidation.