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Jun 30
Altimmune Q2 2025 Earnings Report
Altimmune reported its second quarter 2025 financial results, highlighting progress in its clinical trials for pemvidutide and an increase in cash reserves.
Key Takeaways
Altimmune announced its Q2 2025 financial results, reporting a net loss of $22.1 million and a net loss per share of $0.27. The company's cash, cash equivalents, and short-term investments increased to $183.1 million. Key highlights include positive 24-week data from the IMPACT Phase 2b trial for pemvidutide in MASH, with significant MASH resolution and weight loss, and the initiation of two new Phase 2 trials for pemvidutide in Alcohol Use Disorder and Alcohol-Associated Liver Disease.
Pemvidutide's IMPACT Phase 2b trial showed statistically significant MASH resolution in up to 59.1% of patients and up to 6.2% weight loss at 24 weeks.
New data from the IMPACT trial demonstrated potentially class-leading improvements in corrected T1 (cT1), an important marker of liver inflammation and fibrosis.
Altimmune reported a net loss of $22.1 million for Q2 2025, an improvement from $24.6 million in the same period last year.
Cash, cash equivalents, and short-term investments significantly increased to $183.1 million as of June 30, 2025, up 39% from December 31, 2024.
Altimmune
Altimmune
Forward Guidance
Altimmune anticipates several key milestones in the coming quarters, primarily focused on advancing pemvidutide through clinical development for MASH, AUD, and ALD.
Positive Outlook
- End-of-Phase 2 Meeting with FDA for pemvidutide in MASH is targeted for Q4 2025, positioning for Phase 3 development.
- Full 48-week data from the IMPACT Phase 2b trial for MASH is expected in Q4 2025.
- Initiation of RECLAIM, a Phase 2 trial for pemvidutide in Alcohol Use Disorder (AUD), in May 2025.
- Initiation of RESTORE, a Phase 2 trial for pemvidutide in Alcohol-Associated Liver Disease (ALD), in July 2025.
- Continued focus on advancing pemvidutide, which has Fast Track designation from the U.S. FDA for MASH.
Challenges Ahead
- The company is still in late clinical-stage, meaning no commercial products are generating significant revenue yet.
- Reliance on successful clinical trial outcomes and regulatory approvals for future commercialization.
- Ongoing research and development expenses are substantial, though decreased slightly this quarter.
- The company continues to report a net loss, indicating it is not yet profitable.
- Future success is dependent on the competitive landscape for MASH, AUD, ALD, and obesity treatments.