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Dec 31, 2024
Altimmune Q4 2024 Earnings Report
Altimmune reported its Q4 2024 financial results and provided a business update.
Key Takeaways
Altimmune reported a net loss of $23.2 million for the fourth quarter of 2024, with cash, cash equivalents, and short-term investments totaling $131.9 million as of December 31, 2024. The company is advancing pemvidutide in multiple indications and expects to report top-line data from the Phase 2b IMPACT trial in Q2 2025.
IMPACT Phase 2b trial of pemvidutide in MASH is on track to report top-line data in Q2 2025.
IND applications for pemvidutide in two additional indications have been cleared by the FDA, with Phase 2 trials expected to commence mid-2025.
Altimmune will hold a virtual R&D Day on March 13, 2025, to discuss pemvidutide development in obesity, MASH, and additional indications.
The company's Board of Directors was strengthened with the addition of two pharmaceutical industry veterans.
Altimmune
Altimmune
Forward Guidance
Altimmune is focused on advancing pemvidutide in multiple indications. Top-line data from the Phase 2b IMPACT trial in MASH is expected in Q2 2025, and Phase 2 trials in two additional indications are planned to commence mid-2025.
Positive Outlook
- Top-line data from Phase 2b IMPACT trial of pemvidutide in MASH to be reported in Q2 2025.
- IND applications in two additional indications have received FDA clearance, with Phase 2 trials to commence mid-2025.
- Company to hold virtual R&D Day on March 13, 2025.
- Pemvidutide has the potential to achieve statistically significant improvements in biopsy endpoints.
- FDA Fast Track designation granted to pemvidutide for the treatment of MASH.
Challenges Ahead
- Forward-looking statements are subject to numerous assumptions, risks, and uncertainties.
- Delays in regulatory review could impact timelines.
- Manufacturing and supply chain interruptions may occur.
- Access to clinical sites and enrollment could face challenges.
- Adverse effects on healthcare systems and disruption of the global economy could affect results.