Apollomics Inc. (NASDAQ: APLM) closed FY2025 with a $10.9 million net loss - an 80% improvement from the $53.9 million loss in FY2024 - driven by a 64% year-over-year reduction in operating expenses and the company's first-ever reported revenue, an $8.5 million upfront payment tied to the LaunXP International licensing deal. Cash and cash equivalents fell to $3.3 million as of December 31, 2025 from $9.8 million a year earlier, and management's own going-concern assessment concluded that "substantial doubt exists about the Company's ability to continue as a going concern" through the April 30, 2027 assessment horizon. The freshest 6-K, filed August 12, 2026, announced a $10.0 million private placement (a $8.0 million cash tranche at $15.00 per Class A share plus the $2.0 million conversion of a March bridge loan from Chairman/CEO Hung-Wen (Howard) Chen at $12.00 per share) scheduled to close on or about August 14. With pro-forma cash of roughly $11.3 million and no material commercial product, the equity is a milestone-driven call on the c-MET inhibitor vebreltinib - a Phase 2 IND submission for second-line NSCLC with c-MET amplification is guided for the first half of 2027, while the same drug's commercial rights in China are already approved in three indications under partner Avistone.