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Mar 31, 2021
Altimmune Q1 2021 Earnings Report
Altimmune reported financial results for the first quarter of 2021 and provided a corporate update.
Key Takeaways
Altimmune reported a net loss of $14.9 million, or $0.38 net loss per share, for the three months ended March 31, 2021. The company's cash, cash equivalents and short-term investments totaled $226.5 million at March 31, 2021.
AdCOVID and ALT-801 are advancing in the clinic, with data readouts from both clinical trials expected in June.
The company plans to transition into a comprehensive global Phase 2 clinical development program if the data from the AdCOVID Phase 1 trial are positive.
ALT-801 is progressing through its first-in-human clinical trial in Australia, with 6-week data anticipated to be available later this quarter.
Altimmune had cash, cash equivalents and short-term investments totaling $226.5 million at March 31, 2021.
Forward Guidance
Altimmune anticipates key milestones for its clinical assets, including data readouts from the AdCOVID Phase 1 clinical trial in June 2021 and the potential start of the AdCOVID Phase 2 clinical program in Q2 2021. The company also expects the completion of the single ascending dose (SAD) and multiple ascending dose (MAD) phases of the ALT-801 study, with 6-week data expected in June 2021 and 12-week data in Q3 2021.
Positive Outlook
- Data readout from AdCOVID Phase 1 clinical trial expected in June 2021.
- Potential start of AdCOVID Phase 2 clinical program in Q2 2021.
- Completion of single ascending dose (SAD) and multiple ascending dose (MAD) phases of the ALT-801 study.
- 6-week data from ALT-801 study expected in June 2021.
- 12-week data from ALT-801 study expected in Q3 2021.
Challenges Ahead
- Potential impacts due to the COVID-19 pandemic such as delays in regulatory review.
- Manufacturing and supply chain interruptions.
- Access to clinical sites, enrollment challenges.
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