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Altimmune(ALT) - 2024 Q1 - Quarterly Results
ALTAltimmune(ALT)2024-05-09 11:04

Financial Performance - Altimmune reported cash, cash equivalents, and short-term investments of 182.1millionasofMarch31,2024[6].−ThenetlossforQ12024was182.1 million as of March 31, 2024[6]. - The net loss for Q1 2024 was 24.4 million, or 0.34pershare,comparedtoanetlossof0.34 per share, compared to a net loss of 20.1 million, or 0.40pershare,inthesameperiodin2023[6].−InterestincomeforQ12024was0.40 per share, in the same period in 2023[6]. - Interest income for Q1 2024 was 2.4 million, an increase from 1.7millioninQ12023,duetohigherinterestearnedoncashequivalents[6].−Totalliabilitiesdecreasedto1.7 million in Q1 2023, due to higher interest earned on cash equivalents[6]. - Total liabilities decreased to 15.4 million as of March 31, 2024, compared to 16.5millionattheendof2023[14].−Totalstockholders′equitydecreasedto16.5 million at the end of 2023[14]. - Total stockholders' equity decreased to 172.9 million as of March 31, 2024, down from 194.1millionattheendof2023[15].ResearchandDevelopment−Researchanddevelopmentexpensesincreasedto194.1 million at the end of 2023[15]. Research and Development - Research and development expenses increased to 21.5 million for Q1 2024, up from 17.2millioninQ12023,with17.2 million in Q1 2023, with 13.5 million allocated to pemvidutide development[6]. - Enrollment is ongoing in the IMPACT Phase 2b trial of pemvidutide in Metabolic Dysfunction-Associated Steatohepatitis (MASH), targeting approximately 190 subjects[5]. - Top line results from the IMPACT trial are expected in Q1 2025, with primary efficacy measures focusing on MASH resolution or fibrosis improvement[5]. - In the MOMENTUM trial, 74.5% of weight loss in pemvidutide-treated subjects came from body fat, indicating effective fat reduction[4]. - The company plans to present a comprehensive data package at the End-of-Phase 2 meeting with the FDA, expected in late Q3 2024[5].