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Jun 30, 2021
Altimmune Q2 2021 Earnings Report
Altimmune reported financial results for Q2 2021 and provided a corporate update.
Key Takeaways
Altimmune reported a revenue of $0.1 million and a net loss of $24.8 million, or $0.60 net loss per share for the three months ended June 30, 2021. The company's cash, cash equivalents, short-term investments and restricted cash totaled $217.9 million at June 30, 2021.
Reported encouraging 6-week interim data from the ongoing Phase 1 clinical trial of ALT-801 in Australia, with a placebo-adjusted weight loss of 6.3% achieved at 6 weeks of treatment with 1.8 mg once weekly dose.
Advancing to ALT-801 12-week data readout on three cohorts, expected in September 2021.
Filing of ALT-801 investigational new drug (IND) application for non-alcoholic steatohepatitis (NASH) on track for Q3 2021, which will be followed by the initiation of a clinical trial in non-alcoholic fatty liver disease (NAFLD).
Altimmune had cash, cash equivalents, short-term investments and restricted cash totaling $217.9 million at June 30, 2021.
Altimmune
Altimmune
Forward Guidance
Altimmune is focused on advancing its NASH and obesity pipeline, with key milestones expected in the coming quarters, including data readouts and IND filings.
Positive Outlook
- ALT-801 12-week data readout expected in September 2021.
- Potential start of the ALT-801 12-week NAFLD trial in September 2021.
- Potential start of the ALT-801 drug/drug interaction trial and Type 2 diabetes trial by year end 2021.
- Potential filing of a NASH IND in Q3 2021.
- Potential filing of an obesity IND in Q4 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, adverse effects on healthcare systems and disruption of the global economy.
- The reliability of the results of studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates.
- The Company’s ability to manufacture clinical trial materials and commercial supply on the timelines anticipated.