Loading...
•
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.
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...