Altimmune ( (ALT) ) has released its Q3 earnings. Here is a breakdown of the information Altimmune presented to its investors.
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Altimmune, Inc. is a clinical-stage biopharmaceutical company dedicated to developing innovative peptide-based therapeutics, primarily focused on treating obesity and metabolic dysfunction-associated steatohepatitis (MASH) using its novel drug candidate, pemvidutide.
In its latest financial report, Altimmune announced the completion of patient enrollment in a significant Phase 2b trial for MASH and the successful conclusion of a pivotal FDA meeting for its obesity treatment program. The company is on track to submit Investigational New Drug (IND) applications for pemvidutide across multiple indications, reflecting a robust development pipeline.
Key financial highlights from the third quarter include total cash assets of $139.4 million and research and development expenses amounting to $19.8 million. The company reported a net loss of $22.8 million, slightly higher than the previous year’s corresponding period. Strategic advancements were underscored by the appointment of Greg Weaver as the new Chief Financial Officer.
Looking forward, Altimmune is poised for a transformative year in 2025, with several key data readouts and regulatory submissions anticipated. The management remains confident in pemvidutide’s potential to address significant unmet medical needs in obesity and MASH, positioning the company for future growth.
