Altimmune, Inc. ALT
Altimmune, Inc. is a late clinical-stage biopharmaceutical company developing novel therapies for serious liver diseases. Our lead product candidate, pemvidutide (formerly known as ALT-801), is a balanced 1:1 glucagon/GLP-1 dual receptor agonist in development for the treatment of metabolic dysfunction-associated steatohepatitis ("MASH"), alcohol use disorder ("AUD") and alcohol-associated liver disease ("ALD"). We may also pursue additional indications for pemvidutide that leverage its differentiated clinical profile. Except where the context indicates otherwise, references to "we," "us," "our," "Altimmune", or the "Company" refer to the company and its subsidiaries.
We obtained pemvidutide as part of the acquisition Spitfire Pharma Inc., in July of 2019. Pemvidutide was designed as a MASH therapeutic based on the understanding that targeting both metabolic and liver-specific effects could lead to an improved and differentiated candidate. Early work provided compelling preclinical efficacy data obtained from a mouse model of MASH. Following a first-in-human clinical trial where we observed initial signs of weight loss and pronounced liver effects, we evaluated pemvidutide in participants with fatty liver disease, or metabolic-dysfunction associated liver disease (MASLD), where we observed robust reductions in liver fat content and weight loss. These results confirmed the earlier study and paved the way for the biopsy-driven IMPACT Phase 2b trial in MASH. To better characterize the quality of the weight loss and cardiometabolic effects of pemvidutide, the MOMENTUM Phase 2 trial in overweight and obese participants was conducted and showed significant weight loss characterized by relative sparing of lean muscle mass and improvements in serum lipids associated with cardiovascular disease. In addition to the recently completed IMPACT trial, pemvidutide is currently being evaluated in participants with AUD and, separately, ALD. There is evidence that pemvidutide may decrease the craving for alcohol in these individuals, with the added benefit that pemvidutide may reverse the harmful effects that alcohol has on the liver in these patients.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.0K | $20.0K | $426.0K | -$68.0K | $4.4M | $8.2M | $5.8M | $10.3M | $10.7M | $3.2M |
| R&D | $66.4M | $82.2M | $65.8M | $70.5M | $74.5M | $49.8M | $17.8M | $18.5M | $18.4M | $7.2M |
| SG&A | $28.1M | $21.0M | $18.1M | $17.1M | $15.4M | $13.2M | $8.5M | $9.8M | $8.5M | $7.1M |
| Total operating expenses | $94.5M | $103.2M | $96.4M | $87.7M | $101.3M | $63.0M | $27.3M | $53.2M | $62.8M | $14.3M |
| Operating income | -$94.5M | -$103.2M | -$95.9M | -$87.7M | -$96.9M | -$54.8M | -$21.5M | -$42.8M | -$52.0M | -$11.1M |
| Interest expense | $1.6M | $9.0K | $35.0K | $8.0K | $5.0K | $9.4K | $2.2K | $297.1K | $162.1K | $38.5K |
| Pre-tax income | -$88.8M | -$95.1M | -$88.4M | -$84.9M | -$97.1M | -$54.5M | -$20.6M | -$45.3M | -$52.1M | -$11.1M |
| Income tax | $681.0K | — | — | $197.0K | — | $5.4M | $58.5K | $6.1M | $5.6M | $0 |
| Net income | -$88.1M | -$95.1M | -$88.4M | -$84.7M | -$97.1M | -$49.0M | -$20.5M | -$39.2M | -$46.4M | -$11.1M |
| EPS, basic | -1.00 | -1.34 | -1.66 | -1.81 | -2.35 | -1.91 | — | — | — | 2.97 |
| EPS, diluted | -1.00 | -1.34 | -1.66 | -1.81 | -2.35 | -1.91 | -1.60 | -15.16 | -118.91 | -1.66 |
| Shares, diluted (wtd. avg.) | 88.1M | 71.0M | 53.2M | 46.9M | 41.3M | 25.6M | — | — | — | 65.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $43.8M | $36.9M | $135.2M | $111.1M | $190.3M | $116.0M | $9.0M | $34.4M | $12.3M | $2.9M |
| Short-term investments | $229.7M | $95.0M | $62.7M | $73.8M | — | $100.0M | $28.3M | — | — | $66.8M |
| Total current assets | $278.2M | $137.3M | $209.6M | $192.8M | $204.1M | $230.3M | $39.4M | $39.4M | $23.5M | $4.5M |
| Property, plant and equipment | $312.0K | $413.0K | $651.0K | $1.1M | $1.4M | $1.1M | $1.1M | $1.3M | $603.1K | $177.9K |
| Goodwill | — | — | — | — | — | — | $0 | $0 | — | $18.8M |
| Other intangibles | — | $0 | $0 | $12.4M | $12.4M | $12.8M | $12.7M | $13.9M | $38.7M | $15.0M |
| Total assets | $279.9M | $139.3M | $210.6M | $206.9M | $218.9M | $245.1M | $54.1M | $54.8M | $63.0M | $38.4M |
| Accounts payable | $2.7M | $211.0K | $2.1M | $4.8M | $2.0M | $612.3K | $18.2K | $372.9K | $129.1K | $2.0M |
| Total current liabilities | $15.0M | $10.5M | $12.1M | $17.1M | $18.3M | $12.0M | $3.9M | $4.5M | $3.8M | $5.5M |
| Long-term debt | $34.3M | — | — | $4.6M | $1.5M | $1.8M | $1.9M | $1.9M | $599.9K | — |
| Total liabilities | $55.0M | $15.8M | $16.5M | $21.6M | $19.7M | $19.2M | $8.5M | $6.4M | $14.4M | $6.2M |
| Retained earnings | -$649.5M | -$561.4M | -$466.3M | -$377.9M | -$293.2M | -$186.4M | -$137.4M | -$116.9M | -$77.7M | -$31.3M |
| Total equity | $224.9M | $123.5M | $194.1M | $185.3M | $199.1M | $225.9M | $45.5M | $48.3M | $39.4M | $32.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$67.5M | -$79.8M | -$75.8M | -$62.6M | -$78.2M | -$34.3M | -$9.6M | -$9.4M | -$20.2M | -$6.4M |
| Depreciation and amortisation | $112.0K | $238.0K | $477.0K | $493.0K | $551.0K | $428.9K | $387.3K | $218.7K | $83.8K | $63.1K |
| Stock-based compensation | $16.1M | $14.4M | $10.6M | $8.1M | $5.5M | $2.6M | $1.3M | $773.2K | $1.4M | $965.4K |
| Capital expenditure | $11.0K | — | $47.0K | $126.0K | $12.1M | $204.0K | $1.2K | $975.4K | $112.4K | $125.0K |
| Investing cash flow | -$132.5M | -$28.4M | $13.7M | -$73.4M | $87.5M | -$72.2M | -$28.3M | -$1.0M | $13.7M | -$220.6K |
| Financing cash flow | $206.8M | $10.0M | $86.1M | $56.8M | $65.1M | $213.5M | $12.5M | $32.5M | $15.8M | $5.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001326190-26-000018.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2M | $10.7M | $10.3M | $5.8M | $8.2M | $4.4M | -$68.0K | $426.0K | $20.0K | $41.0K |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | -$11.1M | -$46.4M | -$39.2M | -$20.5M | -$49.0M | -$97.1M | -$84.7M | -$88.4M | -$95.1M | -$88.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Other event Item 8.01
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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