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Sep 30, 2023
Altimmune Q3 2023 Earnings Report
Announced financial results for the third quarter of 2023 and provided a business update.
Key Takeaways
Altimmune reported a net loss of $20.7 million, or $0.39 per share, for the three months ended September 30, 2023. The company's cash, cash equivalents, and short-term investments totaled $140.8 million as of September 30, 2023. Top-line data from the MOMENTUM Phase 2 obesity trial is expected in Q4 2023, and top-line results from the Phase 2 trial of HepTcell in chronic hepatitis B are expected in Q1 2024.
Top-line 48-week results from the MOMENTUM Phase 2 obesity trial are expected in Q4 2023.
Pemvidutide was granted Fast Track designation for the treatment of non-alcoholic steatohepatitis (NASH).
Top-line results from the Phase 2 trial of HepTcell™ in chronic hepatitis B (CHB) are expected in Q1 2024.
Enrollment commenced in IMPACT Phase 2b NASH trial.
Altimmune
Altimmune
Forward Guidance
The next few months will be important as Altimmune receives the data from the 48-week MOMENTUM trial of pemvidutide in subjects with obesity as well as the results of the Phase 2 trial of HepTcell in CHB.
Positive Outlook
- Top-line data readout from 48-week MOMENTUM Phase 2 obesity trial expected in Q4 2023
- Patient dosing was completed in September 2023 for the MOMENTUM trial.
- Pemvidutide achieved robust reductions in body weight, waist circumference, serum lipids and blood pressure without arrhythmias.
- FDA granted pemvidutide Fast Track designation for the treatment of NASH.
- Top-line data from Phase 2 clinical trial of HepTcell expected in Q1 2024.
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 challenges.
- Adverse effects on healthcare systems and disruption of the global economy.