Altimmune (ALT) 2025 Conference Transcript

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]