The following is a summary of the Altimmune, Inc. (ALT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Altimmune reported cash and cash equivalents of approximately $182.1 million at Q1 2024 end.

• They suffered a net loss of $24.4 million or $0.34 loss per share in Q1 2024, mostly due to increased research and development expenses.

• The company saw research and development expenses rise to $21.5 million in Q1 2024 from $17.2 million in Q1 2023.

• Total revenue was negligible for Q1 2024.

Business Progress:

• The company reports steady progress towards developing an oral version of pemvidutide.

• Positive body composition data from Phase 2 MOMENTUM trial, with 74.5% of weight loss being body fat in patients on pemvidutide.

• They are currently enrolling for the IMPACT study, a Phase 2b trial evaluating pemvidutide in approximately 190 subjects with top line results expected in Q1 2025.

• Altimmune is working towards finding a prospective partner to fully exploit the potential of their programs in obesity and MASH, among other potential applications.

• The firm announced progress in creating an oral version of pemvidutide.

• Altimmune is exploring additional indications for pemvidutide beyond obesity and MASH.

• The company is focusing on using glucagon for obesity treatment and expects to work with a safety database of around 5,000 subjects across 3 to 4 trials.

• The company reported a 21% drop in LDL in subjects, suggesting possible market differentiation.

• For NASH program, they reported a good enrolment rate and are expecting program readouts in Q1 next year.

• They see potential for pemvidutide in the diabetes area and are considering changes to the drug's titration for Phase 3.

More details: Altimmune IR

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