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Dec 31, 2022
Altimmune Q4 2022 Earnings Report
Financial results for Q4 2022 were announced, and a business update was provided.
Key Takeaways
Altimmune reported a net loss of $21.7 million for the three months ended December 31, 2022. The company's cash, cash equivalents, and short-term investments totaled $184.9 million as of December 31, 2022.
Altimmune had cash, cash equivalents and short-term investments totaling $184.9 million at December 31, 2022.
Revenue was negligible for the three months ended December 31, 2022 compared to $3.3 million in the same period in 2021.
Research and development expenses were $19.2 million for the three months ended December 31, 2022, compared to $20.2 million in the same period in 2021.
Net loss for the three months ended December 31, 2022 was $21.7 million, or $0.43 net loss per share, compared to a net loss of $23.9 million in the same period in 2021.
Altimmune
Altimmune
Forward Guidance
Altimmune anticipates key milestones for clinical assets and data readouts for HepTcell and Pemvidutide trials.
Positive Outlook
- Interim 24-week readout from MOMENTUM Phase 2 obesity trial expected March 2023
- Initiation of Phase 2b non-alcoholic steatohepatitis (NASH) trial expected mid-2023
- 24-week interim analysis of approximately 160 subjects in MOMENTUM Phase 2 obesity trial expected in the second half of March 2023
- Initiation of Phase 2b NASH trial expected mid-2023
- Data readout is expected in the first half of 2024 after all subjects complete the 6-month course of treatment.
Challenges Ahead
- 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 impact of liver fat content and demographics in the Phase 1b NAFLD study on the success of future trials