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Mar 31, 2025
Altimmune Q1 2025 Earnings Report
Altimmune reported a narrowed net loss and steady R&D progress in Q1 2025, with major clinical milestones approaching.
Key Takeaways
Altimmune maintained a focused R&D strategy in Q1 2025, reducing expenses and strengthening its balance sheet. The company is poised for significant updates in Q2 with the anticipated Phase 2b MASH data readout and new clinical trials in AUD and ALD set to launch.
Net loss improved to $19.6M from $24.4M in Q1 2024.
Cash and short-term investments totaled $150.8M as of March 31, 2025.
Pemvidutide Phase 2b MASH data expected in Q2 2025.
Phase 2 trials in Alcohol Use Disorder and Alcohol Liver Disease to begin in Q2 and Q3.
Forward Guidance
Altimmune expects pivotal trial readouts and launches in new indications to shape its pipeline and investment potential through 2025.
Positive Outlook
- Top-line MASH data from Phase 2b expected in Q2 2025.
- High MASHResInd response rate (>90%) observed in Phase 1b analysis.
- INDs cleared and Phase 2 trials in AUD and ALD planned for Q2/Q3.
- $100M credit facility secured to extend financial runway.
- Decreased R&D spend vs. Q1 2024 due to trial timing.
Challenges Ahead
- Minimal revenue generation during the quarter.
- No reported commercial pipeline yet; entirely clinical-stage.
- Net loss persists despite reduced operating expenses.
- No non-GAAP EPS guidance provided.
Historical Earnings Impact
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