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Sep 30, 2022
Altimmune Q3 2022 Earnings Report
Announced financial results for Q3 2022 and provided a business update.
Key Takeaways
Altimmune reported minimal revenue and a net loss of $23.5 million for the third quarter of 2022. The company is focused on advancing pemvidutide for obesity and NASH, with data readouts expected in the near term.
Topline 24-week data from Phase 1b trial in subjects with non-alcoholic fatty liver disease (NAFLD) expected mid-December 2022
Interim 24-week readout from MOMENTUM Phase 2 obesity trial expected Q1 2023
A 68.5% relative reduction in liver fat content was achieved at the 1.8 mg dose at Week 12, with 94.4% of subjects achieving a 30% reduction of liver fat
Randomization and first dosing of all subjects is complete in 48-week Phase 2 MOMENTUM obesity trial – 24-week interim analysis of approximately 160 subjects expected in Q1 2023
Altimmune
Altimmune
Forward Guidance
Altimmune anticipates several key milestones in the near future, including data readouts from clinical trials of pemvidutide for NAFLD and obesity, and HepTcell for chronic hepatitis B.
Positive Outlook
- Topline 24-week data from NAFLD trial (12-week extension) expected mid-December 2022
- 24-week interim analysis of MOMENTUM Phase 2 obesity trial expected in Q1 2023
- Data readout from Phase 1b trial of subjects with type 2 diabetes expected in Q1 2023
- Data readout from Phase 2 clinical trial of HepTcell in chronic hepatitis B expected in H2 2023
- Pemvidutide demonstrated promising reductions in liver fat content, serum ALT levels and body weight in a 12-week Phase 1b clinical trial
Challenges Ahead
- Potential impacts from the ongoing conflict in Ukraine and COVID-19, such as delays in regulatory review, manufacturing and supply chain interruptions
- Risks relating to 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
- Forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time