Financial Position - Altimmune reported cash, cash equivalents, and short-term investments totaling $150 million as of March 31, 2025[10]. - The company secured a $100 million credit facility with Hercules Capital to enhance financial flexibility and support pemvidutide development[5]. Research and Development - Research and development expenses for Q1 2025 were $15.8 million, down from $21.5 million in Q1 2024, reflecting a decrease in clinical trial costs[10]. - Phase 2 trials for Alcohol Use Disorder (AUD) and Alcohol Liver Disease (ALD) are set to initiate in Q2 and Q3 2025, respectively[2]. - Top-line data from the IMPACT Phase 2b trial of pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH) is expected in Q2 2025[1]. - A total of 212 participants were randomized in the IMPACT Phase 2b trial, exceeding the original plan of 190 participants[6]. - The proportion of participants achieving MASHResInd responses exceeded 90% after 24 weeks of treatment in the Phase 1b trial, indicating potential high rates of MASH resolution[6]. - Pemvidutide has received Fast Track designation from the U.S. FDA for the treatment of MASH, with top-line results from the ongoing IMPACT Phase 2b trial expected in late June 2025[9]. Expenses and Losses - General and administrative expenses increased to $6.0 million in Q1 2025 from $5.3 million in Q1 2024, primarily due to a $0.5 million rise in stock compensation and labor-related expenses[10]. - Net loss for Q1 2025 was $19.6 million, or $0.26 per share, compared to a net loss of $24.4 million, or $0.34 per share, in the same period in 2024[10].

Core Viewpoint - Altimmune, Inc. has secured a credit facility of up to $100 million from Hercules Capital to support the development of its novel peptide-based therapeutic, pemvidutide, aimed at treating liver and cardiometabolic diseases [1][2]. Financial Strength and Flexibility - The credit facility enhances Altimmune's balance sheet, which had $150 million in cash and cash equivalents as of March 31, 2025 [2]. - The initial tranche of $15 million will be drawn at closing, with additional funds available upon meeting specific clinical and financial milestones [3]. Development Plans for Pemvidutide - Pemvidutide is currently in a Phase 2b trial for metabolic dysfunction-associated steatohepatitis (MASH), with top-line data expected in Q2 2025 [2]. - Phase 2 trials for pemvidutide in Alcohol Use Disorder (AUD) and Alcohol Liver Disease (ALD) are anticipated to start in the second and third quarters of 2025, respectively [2]. Partnership and Future Outlook - The partnership with Hercules Capital is expected to extend Altimmune's cash runway under flexible terms, allowing for continued development of pemvidutide [3]. - Hercules Capital expresses enthusiasm in supporting Altimmune through its clinical development journey, particularly with the upcoming data release from the IMPACT trial [3]. Company Overview - Altimmune is a late clinical-stage biopharmaceutical company focused on developing peptide-based therapeutics for liver and cardiometabolic diseases, with pemvidutide as its lead program [4].

Top-line data from IMPACT Phase 2b trial of pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH) expected in Q2 2025 Phase 2 trials in Alcohol Use Disorder (AUD) and Alcohol Liver Disease (ALD), expected to initiate in Q2 and Q3 2025, respectively Cash, cash equivalents and short-term investments of $150 million as of March 31, 2025 Top-line data from the IMPACT Phase 2b trial of pemvidutide in biopsy-confirmed F2/F3 MASH expected in Q2 2025 Top-line data is expected to include rates of MA ...

Core Viewpoint - Altimmune, Inc. (ALT) shares have increased by 39.4% in the past four weeks, closing at $5.80, with a mean price target of $22.38 indicating a potential upside of 285.9% [1] Price Targets and Analyst Estimates - The mean estimate consists of eight short-term price targets with a standard deviation of $5.32, where the lowest estimate of $12 suggests a 106.9% increase, and the highest estimate of $28 indicates a potential surge of 382.8% [2] - A low standard deviation among price targets suggests a high degree of agreement among analysts regarding the stock's price movement [9] Earnings Estimates and Market Sentiment - Analysts have shown increasing optimism about ALT's earnings prospects, as indicated by a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [11] - The Zacks Consensus Estimate for the current year has risen by 2.3% over the past month, with one estimate increasing and no negative revisions [12] - ALT holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, indicating a strong potential upside [13]

Core Insights - Altimmune, Inc. presented new analyses at the EASL Congress™ highlighting the predictive capability of the MASH Resolution Index (MASHResInd) for MASH resolution in patients treated with pemvidutide, a dual receptor agonist [1][2] Group 1: MASH Resolution Index (MASHResInd) - MASHResInd is a composite score that integrates multiple non-invasive tests, including MRI-PDFF, ALT, and AST levels, to predict MASH resolution on biopsy [2] - In a trial involving pemvidutide for MASLD, MASHResInd indicated a high probability of MASH resolution with treatment [2] Group 2: Pemvidutide Treatment Results - After 24 weeks of treatment, MASHResInd responses were observed in 69.2%, 92.3%, and 90.9% of subjects receiving 1.2 mg, 1.8 mg, and 2.4 mg of pemvidutide, respectively, compared to 22.2% in the placebo group [3][4] - The results suggest that pemvidutide may lead to significant histologic improvements in MASH, with high response rates at the higher doses [3][4] Group 3: Future Developments - The upcoming IMPACT Phase 2b Trial readout is anticipated to be reported this quarter, with confidence in achieving statistical significance based on the trial's results [4] - Pemvidutide has received Fast Track designation from the U.S. FDA for the treatment of MASH and is also being studied for obesity, alcohol use disorder, and alcohol-related liver disease [8][9]

Summary of Altimmune (ALT) Conference Call Company Overview - **Company**: Altimmune - **Focus**: Development of GLP-1 glucagon dual agonist, pembidutide, for multiple indications including NASH (Non-Alcoholic Steatohepatitis) and obesity [7][8] Core Points and Arguments - **Drug Mechanism**: Pembidutide leverages a dual mechanism of action targeting both the liver and weight loss, crucial for treating NASH, where 80% of patients are also obese [8][9] - **Clinical Data**: - Phase 2b data for NASH is expected soon, with a focus on liver health and weight loss [8] - Previous Phase II studies showed a 15.6% weight loss at 48 weeks and a 20% reduction in LDL cholesterol, indicating potential synergy with statins [24][25] - Class-leading liver fat reduction of 76% at 24 weeks, the highest among drugs in development for NASH [26][41] - **Safety Profile**: Over 500 subjects have been exposed to pembidutide, confirming its safety for glycemic control and cardiovascular health, with no major adverse cardiovascular events reported [22][23] - **Regulatory Engagement**: The FDA has acknowledged the safety profile and glycemic control of pembidutide, which is designed to be glucose neutral [18][22] Industry Context - **Resurgence of Glucagon**: The importance of glucagon in obesity and metabolic diseases is being recognized, with multiple companies exploring its benefits [12][14] - **Market Positioning**: Pembidutide is positioned as a comprehensive solution for NASH, combining weight loss and direct liver effects, unlike other agents that only address one aspect [62] Additional Insights - **Patient Selection and Study Design**: The IMPACT trial is designed with 190 subjects, focusing on a 1.8 mg dose compared to placebo, with a robust methodology to minimize bias in biopsy readings [27][28] - **Long-term Effects**: The combination of glucagon and weight loss is expected to yield compounding benefits over time, enhancing treatment outcomes for NASH patients [39][43] - **Future Indications**: Altimmune plans to explore pembidutide for alcohol use disorder (AUD) and alcoholic liver disease (ALD), leveraging its ability to reduce cravings and heal liver inflammation [63][64] Financial Position - **Cash Position**: At the end of 2024, Altimmune expects to have approximately $132 million, sufficient to support ongoing and upcoming milestones, including new indications [68] Upcoming Events - **Earnings Call**: A full update on data and financials is expected in the upcoming earnings call, with significant data anticipated in the second quarter [66][68]

Core Viewpoint - Altimmune, Inc. is set to report its first quarter 2025 financial results on May 13, 2025, and will host a conference call to discuss these results and provide a business update [1]. Group 1: Financial Results Announcement - The company will announce its first quarter 2025 financial results on May 13, 2025 [1]. - A conference call will be held at 8:30 am E.T. on the same day to discuss the financial results [1]. - The conference call will be available via live webcast on Altimmune's Investor Relations website [1]. Group 2: Company Overview - Altimmune is a late clinical-stage biopharmaceutical company focused on developing next-generation peptide-based therapeutics [3]. - The company is developing pemvidutide, a GLP-1/glucagon dual receptor agonist aimed at treating obesity, MASH, alcohol use disorder, and alcohol-related liver disease [3].

Core Insights - Altimmune, Inc. is presenting analyses of pemvidutide-treated subjects with metabolic dysfunction-associated steatotic liver disease (MASLD) at the EASL International Liver Congress™ 2025, highlighting the use of the MASH Resolution Index as a non-invasive measure of histologic response [1][2] Group 1: Pemvidutide Overview - Pemvidutide is a novel peptide-based dual receptor agonist targeting GLP-1 and glucagon, aimed at treating obesity, MASH, Alcohol Use Disorder (AUD), and Alcohol Liver Disease (ALD) [3] - The drug has shown significant weight loss, lean mass preservation, and reductions in triglycerides, LDL cholesterol, liver fat content, and blood pressure in clinical trials [3] - Pemvidutide has received Fast Track designation from the U.S. FDA for MASH treatment and is currently undergoing Phase 2 trials for obesity and MASH [3] Group 2: Company Background - Altimmune is a late clinical-stage biopharmaceutical company focused on developing next-generation peptide-based therapeutics [4] - The company is actively working on pemvidutide for various metabolic and liver-related conditions [4]

Group 1 - Altimmune, Inc. will participate in a fireside chat at the Citizens Life Sciences Conference on May 7, 2025, at 9:30 a.m. EDT [1] - The session will be available via webcast on the Altimmune website [1] - Altimmune is a late clinical-stage biopharmaceutical company focused on next-generation peptide-based therapeutics [2] Group 2 - The company is developing pemvidutide, a GLP-1/glucagon dual receptor agonist aimed at treating obesity, MASH, alcohol use disorder, and alcohol-related liver disease [2]

Core Viewpoint - The obesity drug market is highly lucrative, with Eli Lilly and Novo Nordisk generating billions in sales, prompting other companies like Pfizer to explore acquisition opportunities in this space [1][2]. Group 1: Pfizer's Position and Strategy - Pfizer recently discontinued its experimental obesity drug danuglipron due to safety concerns, putting it at a disadvantage in the obesity market [2]. - The company has nearly $20.5 billion in cash and short-term investments, with a revenue of $63.6 billion and a profit exceeding $8 billion in 2024, despite a significant debt load of around $64 billion [7][8]. Group 2: Potential Acquisition Targets - Altimmune is a promising target for Pfizer, with its experimental GLP-1/glucagon dual receptor agonist pemvidutide having completed successful phase 2 testing for obesity and plans for further studies in liver disorders and alcohol-related diseases [3][4]. - Viking Therapeutics is another potential acquisition candidate, expecting to begin phase 3 testing of its GLP-1/GIP receptor dual agonist VK2735 for obesity this year, alongside ongoing phase 2 studies for an oral formulation [5][6]. Group 3: Financial Feasibility of Acquisitions - Altimmune's market cap is below $400 million, making it a feasible acquisition for Pfizer without incurring additional debt [8]. - Viking Therapeutics has a market cap of nearly $3 billion, but Pfizer could still finance this acquisition comfortably with its cash reserves [9]. Group 4: Future Considerations - Pfizer may delay acquisition decisions until it assesses the clinical development of its other experimental obesity drug, PF-07976016, but must act quickly to avoid losing potential targets to competitors [10][11].