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ALT

Altimmune, Inc.

ALT

Altimmune, Inc. • NASDAQ
$5.26 ▲ 1.74% (+0.09)
Market Cap $464.23 M
52w High $10.88
52w Low $2.90
Dividend Yield 0%
P/E -4.92
Volume 1.54M
Outstanding Shares 88.26M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5K $5.904M ▼ $-19.014M ▲ -380.28K% ▲ $-0.21 ▲ $-18.492M ▲
Q2-2025 $5K $22.927M ▲ $-22.146M ▼ -442.92K% ▼ $-0.27 ▼ $-21.852M ▼
Q1-2025 $5K $21.82M ▼ $-19.575M ▲ -391.5K% ▲ $-0.26 ▲ $-20.226M ▲
Q4-2024 $5K $24.871M ▲ $-23.18M ▼ -463.6K% ▼ $-0.33 ▼ $-23.146M ▼
Q3-2024 $5K $24.772M $-22.845M -456.9K% $-0.32 $-22.802M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $210.776M ▲ $218.447M ▲ $32.846M ▲ $185.601M ▲
Q2-2025 $183.105M ▲ $190.35M ▲ $28.983M ▲ $161.367M ▲
Q1-2025 $149.826M ▲ $157.263M ▲ $15.101M ▼ $142.162M ▲
Q4-2024 $131.891M ▼ $139.306M ▼ $15.798M ▲ $123.508M ▼
Q3-2024 $139.38M $147.864M $14.487M $133.377M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-19.014M ▲ $-11.897M ▲ $-149.321M ▼ $39.349M ▼ $-121.869M ▼ $-11.897M ▲
Q2-2025 $-22.146M ▼ $-19.648M ▼ $101.107M ▲ $52.542M ▲ $134.001M ▲ $-19.658M ▼
Q1-2025 $-19.575M ▲ $-16.84M ▲ $-5.101M ▼ $34.119M ▲ $12.178M ▲ $-16.84M ▲
Q4-2024 $-23.18M ▼ $-18.265M ▲ $13.632M ▲ $10.085M ▲ $5.452M ▲ $-18.265M ▲
Q3-2024 $-22.845M $-27.118M $1.199M $266K $-25.653M $-27.118M

Revenue by Products

Product Q1-2021Q2-2021Q3-2021Q4-2021
Grant
Grant
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Altimmune is still a classic clinical‑stage biotech: essentially no product revenue and a steady stream of operating losses. The income statement is driven almost entirely by research and development and overhead costs, with no commercial sales yet to offset them. Losses have been fairly consistent over the last several years, with some gradual improvement, but they remain substantial. The financial story here is not about current profitability; it is about whether today’s spending on trials will eventually translate into future revenue from pemvidutide and any follow‑on programs.

Balance Sheet

Balance Sheet The balance sheet is relatively clean and simple. The company holds a meaningful, but not large, cash position compared with its size, and it carries no financial debt, which reduces balance‑sheet risk. Most of its assets are cash or equivalents, with only light physical assets. Shareholders’ equity remains positive but is gradually being drawn down by ongoing losses. Overall, the company has some financial cushion, but its ability to keep funding operations over the long run will depend on future capital raises or partnering deals unless it reaches commercialization.

Cash Flow

Cash Flow Cash flows reflect a typical development‑stage biotech pattern: money consistently flowing out to fund clinical trials and operations, and no operating cash coming in from product sales. Operating cash burn has been fairly steady over the last several years and capital spending is very low, so almost all cash use is tied to R&D and corporate costs. Free cash flow is negative, which is normal at this stage. Over time, the company will likely need external funding or partnerships to support its programs if it does not transition to revenue generation.

Competitive Edge

Competitive Edge Altimmune’s competitive position rests almost entirely on pemvidutide and the technology behind it. The company is operating in one of the most competitive areas in pharma—obesity and metabolic disease—where large players already have powerful GLP‑1 drugs on the market. Altimmune’s differentiators are its dual GLP‑1/glucagon mechanism, its focus on “quality weight loss” with better preservation of muscle, and its strategy of targeting liver disease and alcohol‑related conditions where there is less direct competition. Strong intellectual property around its EuPort technology and peptide designs provides some protection, but concentration in a single lead asset and the presence of much larger rivals are key competitive risks.

Innovation and R&D

Innovation and R&D Innovation is the core of the Altimmune story. Pemvidutide’s dual‑agonist design and the EuPort delivery domain are the main technical advances, aimed at improving both effectiveness and tolerability with weekly dosing. The company is trying to extract as much value as possible from this platform by pursuing multiple indications—obesity, MASH, alcohol use disorder, and alcohol‑associated liver disease—rather than spreading itself across many unrelated projects. The decision to shut down the HepTcell program shows a willingness to prune the pipeline and focus resources. Future innovation will depend on how well Altimmune can expand its technology into new candidates and indications beyond pemvidutide while maintaining disciplined R&D spending.

Summary

Altimmune is a pre‑revenue, clinical‑stage biotech whose fate is closely tied to one main drug candidate, pemvidutide. Financially, it has recurring losses, ongoing cash burn, a modest but meaningful cash buffer, and no debt, which simplifies the balance‑sheet risk but underscores its reliance on future funding or partnerships. Strategically, the company is aiming to carve out space in a crowded obesity and metabolic landscape by emphasizing a differentiated mechanism, liver benefits, and underserved indications like MASH and alcohol‑related diseases, supported by patent protection and FDA Fast Track designations. The main opportunities lie in successful trial outcomes, regulatory progress, and potential collaborations; the main risks are clinical failure, strong competition from much larger firms, a concentrated pipeline, and the need to secure future financing to sustain development.

NEWS

November 26, 2025 · 7:30 AM UTC

Altimmune to Participate in the Piper Sandler 37th Annual Healthcare Conference

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November 11, 2025 · 8:51 AM UTC

Altimmune Announces Publication of IMPACT Phase 2b Trial Data in The Lancet and Concurrent Late-Breaking Oral Presentation at AASLD The Liver Meeting® 2025

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November 7, 2025 · 8:05 AM UTC

Altimmune Presents AI-Based Analysis of Liver Fibrosis Reduction from IMPACT Phase 2b Trial of Pemvidutide in MASH in Late-breaking Poster at AASLD The Liver Meeting® 2025

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November 6, 2025 · 7:00 AM UTC

Altimmune Announces Third Quarter 2025 Financial Results and Business Updates

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November 5, 2025 · 7:30 AM UTC

Altimmune to Participate in Two Upcoming Investor Conferences

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