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Dec 31, 2020
Altimmune Q4 2020 Earnings Report
Announced financial results for Q4 2020 and provided a corporate update.
Key Takeaways
Altimmune reported a net loss of $49.0 million for the year ended December 31, 2020. The company's cash, cash equivalents, and short-term investments totaled $216.0 million at year-end. The company has made substantial progress in each of their five portfolio programs.
Enrollment in the Phase 1 AdCOVID™ Clinical Trial has commenced.
Development of AdCOVID vectors targeting emerging variants of the SARS-CoV-2 Virus has begun.
ALT-801 is progressing through the Phase 1 Clinical Trial.
The company is solidly capitalized to advance pipeline candidates with $216 million in cash and short-term investments at year-end.
Altimmune
Altimmune
Forward Guidance
The company anticipates multiple data readouts from their programs over the coming months and believes 2021 has the potential to be a momentous year.
Positive Outlook
- Data read-out for Phase 1 clinical trial of AdCOVID in Q2 2021
- Data readout from T-COVID trial in Q2 2021
- Data read-out from Phase 1 clinical study for ALT-801 in Q1 2021
- Plan to file an IND application for ALT-801 in mid-2021
- Data read-out from Phase 2 clinical trial of HepTcell in 1H 2022
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.
- The 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 and/or non-renewal of expiring funding under the Company’s agreement with Biomedical Advanced Research and Development Authority (“BARDA”), or the Company’s contract with the National Institutes of Allergy and Infectious Diseases (“NIAID”).