Summary by Moomoo AI
On May 9, 2024, Altimmune, Inc., a clinical-stage biopharmaceutical company, reported its financial results for the first quarter ending March 31, 2024. The company announced ongoing enrollment in the IMPACT Phase 2b trial of pemvidutide for Metabolic Dysfunction-Associated Steatohepatitis (MASH), with top-line results expected in Q1 2025. Altimmune highlighted its cash position of $182.1 million and detailed its R&D expenses of $21.5 million, which included significant investment in the development of pemvidutide. General and administrative expenses rose to $5.3 million due to increased stock compensation and labor costs. The company also reported a net loss of $24.4 million, or $0.34 per share, for the quarter. Altimmune is preparing for an End-of-Phase 2 meeting with the FDA, anticipated in late Q3 2024, to discuss the Phase 3 pemvidutide obesity registrational program. The company's Chief Financial Officer, Richard Eisenstadt, signed off on the report.