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Dec 31, 2021
Altimmune Q4 2021 Earnings Report
Altimmune reported financial results for Q4 2021 and provided a corporate update.
Key Takeaways
Altimmune reported a revenue of $3.3 million for the three months ended December 31, 2021, compared to $2.3 million in the same period in 2020. The net loss for the three months ended December 31, 2021 was $23.9 million, or $0.57 net loss per share, compared to $10.6 million in the same period in 2020, or $0.29 net loss per share. The company had cash, cash equivalents, short-term investments and restricted cash totaling $190.3 million at December 31, 2021.
Data readouts from multiple clinical trials expected during the next 6 to 12 months
Strong cash position of $190.3 million as of December 31, 2021
Initiation of the Phase 2 MOMENTUM trial of pemvidutide in obesity expected in the first quarter of 2022
Topline data from the extension trial expected in Q4 2022.
Altimmune
Altimmune
Forward Guidance
Altimmune anticipates value-creating data readouts from multiple clinical trials in the next 12 months and expects to read out their HepTcell trial in the first half of 2023.
Positive Outlook
- Phase 1b nonalcoholic fatty liver disease (NAFLD) trial data readout expected in Q3 2022
- Interim analysis planned to assess changes in body weight after 24 weeks of treatment, with an expected readout in Q4 2022
- Topline data from the extension trial expected in Q4 2022
- Results of a drug-drug interaction trial of pemvidutide expected in the first half of 2022
- Study readout for Phase 2 clinical trial in chronic hepatitis B subjects, with study readout expected H1 2023
Challenges Ahead
- Potential impacts due to crises, including conflicts and wars (like the ongoing conflict in Ukraine) and pandemics (like the COVID-19 pandemic), such as delays in regulatory review, manufacturing and supply chain interruptions, access to clinical sites, enrollment, adverse effects on healthcare systems and disruption of the global economy
- 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
- Timing of key milestones for clinical assets