Welcome to our dedicated page for Altimmune news (Ticker: ALT), a resource for investors and traders seeking the latest updates and insights on Altimmune stock.
Altimmune, Inc. (Nasdaq: ALT) is a clinical-stage biopharmaceutical company dedicated to developing next-generation immunotherapeutics and vaccines addressing critical public health and biodefense needs. Leveraging the unique properties of its proprietary platform technologies, Altimmune is adept at swiftly designing product candidates targeting a range of diseases, including respiratory conditions, chronic infections, and cancer.
Altimmune's advanced Densigen™ T-cell platform technology is specifically designed to guide the immune system's response against complex disease targets by focusing on multiple antigens simultaneously. Another key platform, RespirVec™, uses needle-free intranasal delivery for faster and broader immunity against pathogens compared to traditional vaccines.
The company is also heavily involved in addressing obesity and liver diseases through its innovative peptide therapeutics. The lead product candidate, pemvidutide, is a GLP-1/glucagon dual receptor agonist under development for obesity and non-alcoholic steatohepatitis (NASH). Pemvidutide has shown promising results in clinical trials, achieving significant weight loss and liver fat reduction. It has received Fast Track designation from the U.S. FDA for treating NASH, highlighting its potential to meet significant unmet medical needs.
Altimmune's pipeline also includes HepTcell™, an immunotherapeutic designed to achieve a functional cure for chronic hepatitis B. However, the company has recently decided to cease further development on HepTcell based on Phase 2 trial findings.
Financially, Altimmune maintains a robust cash position, enabling it to advance its clinical programs. Recent financial results indicate a focused investment in research and development, ensuring continued progress in its pipeline.
Significant recent achievements include:
- Positive top-line results from the 48-week MOMENTUM Phase 2 obesity trial of pemvidutide.
- Ongoing Phase 2b IMPACT trial of pemvidutide in MASH with top-line results expected in Q1 2025.
- Strong financial position with substantial cash reserves to support ongoing and future research activities.
Altimmune is poised at the forefront of developing transformative therapies for serious health conditions, potentially delivering significant advancements in patient care.
Altimmune (Nasdaq: ALT) announced its addition to the Nasdaq Biotechnology Index (NBI) effective December 23, 2024. The company's CEO, Vipin K. Garg, highlighted this as an important recognition following a year of major progress. Looking ahead to 2025, the company anticipates significant milestones, including topline data from the Phase 2b IMPACT trial of pemvidutide in MASH expected in Q2. The NBI, established in 1993, tracks Nasdaq-listed biotechnology and pharmaceutical securities that meet specific eligibility criteria including market capitalization, trading volume, and seasoning requirements.
Altimmune (Nasdaq: ALT) announced that their Chief Medical Officer, Dr. Scott Harris, will present at the 17th International Conference of the Society on Sarcopenia, Cachexia & Wasting Disorders in Washington, D.C. The presentation will focus on body composition data from the Phase 2 MOMENTUM trial of pemvidutide in obesity treatment. Dr. Harris will participate in a panel discussion titled 'Muscle Wasting in Weight Loss Therapy' during the session 'Treatment Approaches to Address Muscle Wasting in the Context of Obesity Therapy & Regulatory Issues' on Friday, December 6, 2024, at 9:30 am ET.
Altimmune (Nasdaq: ALT) has announced its participation in two upcoming investor conferences. The company's management team will be present at the Annual Evercore HealthCONx Conference in Coral Gables, FL on December 3, 2024, featuring a fireside chat at 10:50 a.m. ET, and the Piper Sandler Annual Healthcare Conference in New York, NY on December 4, 2024, with a fireside chat scheduled for 3:30 p.m. ET. Both sessions will be available via webcast through the Events section of Altimmune's website. The team will also be available for one-on-one meetings during these events.
Altimmune (Nasdaq: ALT) presented new data from its 12-week Phase 1b trial of pemvidutide in MASLD patients at The Liver Meeting®. The study demonstrated that weekly subcutaneous doses of pemvidutide significantly reduced inflammatory lipids and showed promising effects on cardiovascular health markers. In the trial of 94 subjects, pemvidutide reduced liver fat content by up to 68.5%, total cholesterol by 12.2%, and triglycerides by 44.6% after 12 weeks. The company is currently conducting the Phase 2b IMPACT trial in MASH patients, with results expected in Q2 2025.
Altimmune (ALT) announced key developments in Q3 2024, including completion of enrollment in the Phase 2b IMPACT trial of pemvidutide for MASH, with top-line data expected in Q2 2025. The company successfully completed its End-of-Phase 2 FDA meeting for pemvidutide's obesity program, planning four Phase 3 trials. At EASD, they presented promising data showing pemvidutide's lean mass preservation and visceral fat reduction. The company plans to submit INDs for up to three additional pemvidutide indications starting Q4 2024.
Financial results showed $139.4 million in cash and investments, R&D expenses of $19.8 million, and a net loss of $22.8 million ($0.32 per share) for Q3 2024.
Altimmune (Nasdaq: ALT) has appointed Greg Weaver as Chief Financial Officer, effective immediately. Weaver brings over 25 years of finance experience in life sciences companies and will lead the company's finance, accounting, and investor relations functions. His previous role was CFO at Cognito Therapeutics, and he notably led a $225 million IPO at atai Life Sciences. Throughout his career, Weaver has managed various capital market transactions and served as CFO at multiple biotech companies, including Sirna Therapeutics and ILEX Oncology. The appointment comes at a important time as Altimmune advances its lead program, pemvidutide, which targets metabolic disorders through liver-targeting mechanisms.
Altimmune (Nasdaq: ALT) announced equity awards granted to incoming Chief Financial Officer Gregory Weaver, effective November 11, 2024. The compensation package includes options to purchase 225,000 shares of common stock and 75,000 restricted stock units (RSUs). Based on November 8 closing price, approximately 172,920 options would be issued as inducement awards, with the remainder as incentive stock options. The options and RSUs will vest over four years, with 25% vesting after the first year and the remainder vesting gradually, subject to continued employment.
Altimmune (Nasdaq: ALT) announced successful completion of End-of-Phase 2 Meeting with FDA for pemvidutide in obesity treatment. The company received agreement on Phase 3 registrational program design, which will include four Phase 3 trials (VELOCITY-1,2,3,4) enrolling approximately 5,000 subjects over 60-week periods. The trials will evaluate pemvidutide doses of 1.2 mg, 1.8 mg, and 2.4 mg, focusing on different patient populations including those with elevated LDL cholesterol, elevated liver fat, and elderly with sarcopenia. The program aims to leverage pemvidutide's balanced GLP-1/glucagon dual agonism benefits.
Altimmune (Nasdaq: ALT) has announced its participation in two upcoming investor conferences. The company will attend the Guggenheim Inaugural Healthcare Innovation Conference in Boston on November 11, 2024, featuring a fireside chat at 11:30 a.m. Eastern Time. Additionally, they will participate in the UBS Global Healthcare Conference in Rancho Palos Verdes on November 13, 2024, with a fireside chat scheduled for 9:30 a.m. Pacific Time and availability for one-on-one meetings. Both sessions will be accessible via webcast through the Events section of Altimmune's website.
Altimmune (Nasdaq: ALT) announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024. The clinical-stage biopharmaceutical company will host a conference call at 8:30 am E.T. on the same day to discuss the financial results and provide a business update. The conference call will be webcast live on Altimmune's Investor Relations website, with a replay available for up to three months after the call.
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