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Dec 31, 2019
Altimmune Q4 2019 Earnings Report
Altimmune reported financial results for Q4 2019 and provided a corporate update.
Key Takeaways
Altimmune announces financial results for the year ended December 31, 2019. The company had cash, cash equivalents and short-term investments of $37.3 million. Revenue was $5.8 million and net loss was $20.97 million, or ($1.60) per share.
Initiated development of “AdCOVID”, single-dose intranasal COVID-19 vaccine candidate
Announced positive results for ALT-702 in a preclinical model of colorectal cancer
Acquired Spitfire Pharma, Inc. with NASH Candidate ALT-801
Awarded $3.7 million BARDA funding for NasoShield Phase 1b trial
Altimmune
Altimmune
Forward Guidance
Altimmune is focused on developing treatments for liver disease, immune modulating therapies and vaccines. Key milestones include the development of AdCOVID vaccine, filing of the IND for ALT-801, initiation of a Phase 1 clinical study, and filing of the IND for HepTcell.
Positive Outlook
- Timing of key milestones for clinical assets
- Development of AdCOVID vaccine product candidate
- Initiation of animal testing in Q2 2020 and a Phase 1 clinical study in Q3 2020 for AdCOVID
- Filing of the IND for ALT-801 in 2020
- Initiation of a Phase 1 clinical study in 2020 and receipt of data from this clinical study in 2021
Challenges Ahead
- Potential impacts due to the COVID-19 pandemic such as delays in regulatory review
- Manufacturing and supply chain interruptions
- Adverse effects on healthcare systems and disruption of the global economy
- Reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates
- Funding delays, reductions in or elimination of U.S. government funding