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Jun 30, 2022
Altimmune Q2 2022 Earnings Report
Announced financial results for the second quarter of 2022 and provided a business update.
Key Takeaways
Altimmune reported minimal revenue and a net loss for the three months ended June 30, 2022. The company is focused on advancing the development of pemvidutide and expects to announce top line data from clinical trials in the coming months.
Topline data from 12-week Phase 1b trial in subjects with obesity/overweight and NAFLD expected mid-September 2022.
Enrollment in Phase 2 MOMENTUM obesity trial has been very robust with 167 subjects randomized as of August 10.
Decision made to conduct interim analysis of MOMENTUM trial when approximately 50% of study participants complete 24 weeks of treatment, expected in Q1 2023.
Enrollment ongoing in Phase 1b trial of diabetic subjects with obesity and overweight, with completion expected in September 2022.
Altimmune
Altimmune
Forward Guidance
Altimmune anticipates key milestones for its clinical assets, including data readouts from multiple trials. The company is also progressing with enrollment in ongoing trials and expects completion in the near term.
Positive Outlook
- Topline data from 12-week Phase 1b trial in subjects with obesity/overweight and NAFLD expected mid-September 2022
- Topline data from a 12-week extension to the Phase 1b trial expected in Q4 2022
- 24-week interim analysis of 160 subjects in 48-week Phase 2 MOMENTUM obesity trial expected in Q1 2023
- Enrollment ongoing in Phase 1b trial of diabetic subjects with obesity and overweight, with data readout expected in Q1 2023
- Data readout from Phase 2 clinical trial of HepTcell expected in H2 2023
Challenges Ahead
- Potential impacts from the ongoing conflict in Ukraine and 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
- 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 on the timelines anticipated
- The success of future product advancements, including the success of future clinical trials
- Potential for a write down of assets