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Mar 31, 2020
Altimmune Q1 2020 Earnings Report
Altimmune reported financial results for Q1 2020 and provided a business update.
Key Takeaways
Altimmune reported a net loss attributed to common stockholders of $3.9 million, or ($0.26) per share, for the quarter ended March 31, 2020. Revenue was $2.2 million compared to $3 million in the prior year period. The company's cash, cash equivalents and short-term investments were $33 million at March 31, 2020.
Preclinical testing commenced on COVID-19 vaccine candidate, AdCOVID.
NasoShield Phase 1b trial is expected to begin in June.
Manufacturing of ALT-801 has commenced.
HepTcell manufacturing has been completed, and IND filing is expected next week.
Altimmune
Altimmune
Forward Guidance
Altimmune is focused on developing treatments for liver disease, immune modulating therapies and vaccines.
Positive Outlook
- Advancing vaccine candidates, AdCOVID and Nasoshield.
- IND enabling studies and manufacturing for ALT-801 and HepTcell.
- Expected initiation of NasoShield, ALT-801 and AdCOVID clinical trials.
- Finalizing manufacturing plans, and intends to conduct a Phase 1 clinical trial of AdCOVID in Q4 of this year.
- IND filing for HepTcell expected next week.
Challenges Ahead
- Potential impacts due to the COVID-19 pandemic such as delays in regulatory review.
- Manufacturing and supply chain interruptions.
- Adverse effects on healthcare systems and disruption of the global economy.
- The reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates.
- Unforeseen safety and efficacy issues.