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Mar 31, 2024
Altimmune Q1 2024 Earnings Report
Altimmune announced financial results for the first quarter ended March 31, 2024, and provided a business update.
Key Takeaways
Altimmune reported cash, cash equivalents and short-term investments of $182.1 million. The company's net loss was $24.4 million, or $0.34 net loss per share.
Enrollment is ongoing in the IMPACT Phase 2b trial of pemvidutide in Metabolic Dysfunction-Associated Steatohepatitis (MASH).
Top line results from the IMPACT Phase 2b trial are expected in Q1 2025.
Altimmune held cash, cash equivalents and short-term investments of $182.1 million at March 31, 2024.
The company is preparing for its End-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA), which is expected to occur late in the third quarter.
Forward Guidance
Altimmune is preparing for an End-of-Phase 2 meeting with the FDA and continuing to advance enrollment in the IMPACT Phase 2b trial of pemvidutide in MASH. The primary efficacy measures of the trial are MASH resolution or fibrosis improvement with topline data expected in Q1 2025.
Positive Outlook
- The Company plans to present a comprehensive data package, including data from the MOMENTUM Phase 2 trial of pemvidutide in obesity, to FDA.
- The meeting with FDA is currently expected to take place in late Q3 2024.
- The Company expects to enroll approximately 190 subjects with and without diabetes in IMPACT trial.
- Subjects will be randomized to receive one of two doses of pemvidutide or placebo.
- The primary efficacy readout will be at 24 weeks of treatment, which is the earliest time point for any incretin-based therapy in MASH.
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