Altimmune Stock Earnings Reports

Altimmune reported continued program and organizational progress focused on advancing pemvidutide into late‑stage development. Key business highlights: an oversubscribed April public offering generated $225M gross, leaving pro forma cash of ~ $535M (as of April 30) which management says funds the company through the pro forma Phase III MASH 52‑week data readout. The global Phase III MASH program (PERFORMA) is finalized, aligned with FDA and EMA feedback, and planned to initiate patient screening in H2 2026 with a 52‑week biopsy primary outcome; the study will include 1.8 mg and a 2.4 mg arm with a simple titration starting at 1.2 mg. Clinical updates: 48‑week Phase II IMPACT results (including antifibrotic signals) will be presented as an oral “Best of EASL” selection; the Phase II RECLAIM trial in alcohol use disorder (AUD) top‑line data expected next quarter; the RESTORE ALD trial is expected to complete enrollment in Q3 2026. Differentiation thesis: pemvidutide is a balanced 1:1 glucagon:GLP‑1 agonist with a proprietary UPORT formulation intended to slow absorption and improve tolerability (potentially reducing GI discontinuations) while delivering metabolic and liver benefits and quality weight loss that preserves lean mass. Regulatory and biomarker strategy: PERFORMA will incorporate digital pathology (PathAI AIM MASH assist) for biopsy reads and include additional AI/quantitative fibrosis analyses (e.g., Q‑fibrosis) as supportive evidence. Financials (Q1 2026): R&D $16.2M, G&A $8.1M, net loss $22.6M ($0.18/share); R&D spend driven by AUD/ALD trials and Phase III start‑up. Management emphasized execution, enrollment planning, and potential for pemvidutide to address unmet needs in MASH, AUD and ALD. Risks: forward‑looking statements subject to regulatory, clinical and operational uncertainties.