Altimmune (NasdaqGM:ALT) Earnings Call Presentation

Pemvidutide's Potential in Liver Diseases - Pemvidutide targets both liver and metabolic components with a differentiated 1:1 glucagon/GLP-1 ratio, showing potential in various steatotic liver diseases[10] - The IMPACT Phase 2b trial of Pemvidutide in MASH patients showed promising 24-week data, with 48-week data and an FDA meeting expected in Q4 2025[14] - Pemvidutide demonstrated a favorable tolerability profile with no dose titration, and a low rate of AEs leading to treatment discontinuation (1.2% in the 1.8 mg group)[55] MASH (NASH) Market and Clinical Data - The IMPACT Phase 2b trial enrolled 212 subjects with MASH (F2/F3), liver fat content ≥ 8%, and BMI ≥ 27.0 kg/m2, HbA1c < 9.5%[23] - Pemvidutide shows potential for best-in-class MASH resolution without worsening of fibrosis[24] - IMPACT data shows significant weight loss at 24 weeks, addressing an underlying cause of MASH[48] - In a Phase 2 obesity study, Pemvidutide demonstrated a lean loss ratio of 21.9% at 48 weeks, indicating class-leading lean mass preservation[52] AUD and ALD Programs - The RECLAIM Phase 2 trial enrollment for AUD is expected to be completed in Q4 2025, while the RESTORE Phase 2 trial for ALD was initiated in Q3 2025[14] - Approximately 66% of AUD patients have obesity or overweight, similar to ALD patients, making them potential targets for Pemvidutide treatment[60] - ALD patients are approximately 3 times more likely to have liver-related disease progression compared to MASH patients[65] Financial Position - The company reported $211 million in total cash as of September 30, 2025, with access to a $125 million credit facility[75] - The company's 9-month year-to-date operating expenses (OPEX) were $54.5 million[75]