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Jun 30, 2023
Altimmune Q2 2023 Earnings Report
Altimmune's financial position detailed for Q2 2023, with ongoing clinical trials and financial results reported.
Key Takeaways
Altimmune reported a net loss of $16.1 million, or $0.32 per share, for the second quarter of 2023. The company's research and development expenses were $13.3 million, and general and administrative expenses were $4.8 million. As of June 30, 2023, Altimmune had cash, cash equivalents, and short-term investments totaling $160.0 million. They also commenced enrollment in the IMPACT Phase 2b trial of pemvidutide in NASH, and top-line results from the MOMENTUM Phase 2 obesity trial are expected in Q4 2023.
Commenced enrollment in IMPACT Phase 2b trial of pemvidutide in NASH.
Top-line 48-week results from the MOMENTUM Phase 2 obesity trial expected Q4 2023.
Top-line results from the Phase 2 trial of HepTcellTM in chronic hepatitis B (CHB) expected Q1 2024.
Cash, cash equivalents and short-term investments totaled $160.0 million as of June 30, 2023.
Altimmune
Altimmune
Forward Guidance
The company is focused on advancing its clinical programs, with key data readouts expected in the coming quarters for pemvidutide and HepTcell.
Positive Outlook
- Top-line data readout from 48-week MOMENTUM Phase 2 obesity trial expected in Q4 2023.
- Commenced enrollment in IMPACT Phase 2b NASH trial.
- Top-line data from Phase 2 clinical trial of HepTcell expected in Q1 2024.
- Pemvidutide incorporates the EuPortTM domain, a proprietary technology that increases its serum half-life for weekly dosing while likely slowing the entry of pemvidutide into the bloodstream, which may improve its tolerability.
- Pemvidutide is a novel, investigational, peptide-based GLP-1/glucagon dual receptor agonist in development for the treatment of obesity and NASH.
Challenges Ahead
- Forward-looking statements are subject to numerous assumptions, risks, and uncertainties.
- 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 on the timelines anticipated.
- The success of future product advancements, including the success of future clinical trials.