Altimmune, Inc.
- Open
- 3.02
- Day high
- 3.40
- Day low
- 3.00
- Prev close
- 3.04
- Volume
- 5.3M
- Mkt cap
- $637M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.2
- P/S
- —
- Yield
- —
- Per share
- —
- ▲Insiders net buying $31K over the last 3 months (1 open-market buy, 0 sales)
- 🏛Institutions accumulating (13F)
Altimmune, Inc. (ALT) is a Healthcare company listed on NASDAQ. The stock is down 28% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 0 sales (SEC Form 4).
Altimmune, Inc. (ALT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ALT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 13, 2026 | $-0.25 | $-0.18 | +28.0% | — | — |
| Mar 5, 2026 | $-0.23 | $-0.27 | -15.4% | $26000 | +3032.5% |
| Nov 6, 2025 | $-0.29 | $-0.21 | +27.6% | $5000 | +792.9% |
| Aug 12, 2025 | $-0.32 | $-0.27 | +15.6% | $5000 | +249.9% |
| Feb 27, 2025 | $-0.34 | $-0.33 | +2.9% | $5000 | +400.0% |
| May 9, 2024 | $-0.36 | $-0.34 | +5.6% | $5000 | — |
| Aug 10, 2023 | $-0.44 | $-0.32 | +27.3% | $6000 | +100.0% |
| May 11, 2023 | $-0.49 | $-0.40 | +18.4% | $21000 | — |
| Feb 28, 2023 | $-0.52 | $-0.43 | +17.3% | $110000 | +281.2% |
| Nov 10, 2022 | $-0.49 | $-0.48 | +2.0% | $2000 | -99.8% |
| Aug 11, 2022 | $-0.45 | $-0.42 | +6.7% | $8000 | -99.1% |
| May 12, 2022 | $-0.57 | $-0.44 | +22.8% | $32000 | -96.9% |
ALT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 1, 2026 | GILL JOHNdirector | Grant | 48,800 | $2.82 |
| May 1, 2026 | Pisano Waynedirector | Grant | 48,800 | $2.82 |
| May 1, 2026 | Jorkasky Dianedirector | Grant | 48,800 | $2.82 |
| May 1, 2026 | Hodges Philipdirector | Grant | 48,800 | $2.82 |
| May 1, 2026 | Lawver Teri Ldirector | Grant | 48,800 | $2.82 |
| May 1, 2026 | Sohn Catherine A.director | Grant | 48,800 | $2.82 |
| May 1, 2026 | Schafer Klausdirector | Grant | 48,800 | $2.82 |
| May 1, 2026 | SAYARE MITCHELdirector | Grant | 48,800 | $2.82 |
| Apr 6, 2026 | GILL JOHNdirector | Buy | 9,200 | $3.41 |
| Mar 9, 2026 | Durso Jerome Benedictdirector, officer: President and CEO | Buy | 20,000 | $3.54 |
| Mar 9, 2026 | WEAVER GREGORY Lofficer: Chief Financial Officer | Buy | 5,000 | $3.54 |
| Feb 27, 2026 | Roberts M Scotofficer: Chief Scientific Officer | Grant | 95,430 | — |
| Feb 27, 2026 | WEAVER GREGORY Lofficer: Chief Financial Officer | Grant | 111,000 | — |
| Feb 27, 2026 | Roberts M Scotofficer: Chief Scientific Officer | Grant | 222,670 | $4.46 |
| Feb 27, 2026 | WEAVER GREGORY Lofficer: Chief Financial Officer | Grant | 259,000 | $4.46 |
Source: ALT SEC Form 4 filings, latest May 1, 2026. For informational purposes only — not investment advice.
See the full ALT insider & 13F page →Altimmune, Inc. company profile
Overview
Altimmune, Inc. (NASDAQ:ALT) is a clinical-stage biopharmaceutical company founded in 1997 and headquartered in Gaithersburg, Maryland. Originally known as Vaxin Inc., the company changed its name to Altimmune in September 2015. The company went public in May 2017 and focuses on developing innovative treatments for metabolic diseases, particularly obesity and liver conditions. Altimmune has evolved from its early vaccine development roots to become a specialized developer of dual-mechanism therapies targeting the growing global obesity and non-alcoholic fatty liver disease epidemics.
Business
Altimmune operates in the biotechnology sector, specifically developing pharmaceutical treatments for metabolic diseases. The company's core business revolves around clinical-stage drug development, meaning it creates and tests new medicines that have not yet received regulatory approval for commercial sale. The company's primary focus is on pemvidutide (formerly ALT-801), a novel dual receptor agonist that simultaneously targets two important hormonal pathways in the body. To understand this product, it's helpful to know that GLP-1 and glucagon are naturally occurring hormones that regulate blood sugar, appetite, and metabolism. GLP-1 receptor agonists like semaglutide (Ozempic/Wegovy) have revolutionized obesity treatment by reducing appetite and slowing digestion. Glucagon, on the other hand, helps the body burn fat and can specifically target liver fat. Pemvidutide combines both mechanisms in a single drug, potentially offering superior benefits for both weight loss and liver health. Altimmune has two main therapeutic programs representing virtually all of its development efforts: 1. Obesity Program - Pemvidutide is being developed as a treatment for obesity, competing in the rapidly growing GLP-1 receptor agonist market. The company has completed Phase 2 trials showing meaningful weight loss comparable to existing treatments, with the added benefit of better preservation of muscle mass during weight loss. 2. NASH/MASH Program - The same drug is being developed to treat Non-Alcoholic Steatohepatitis (NASH), recently renamed Metabolic dysfunction-Associated Steatohepatitis (MASH). This is a serious liver condition where excess fat accumulation leads to inflammation and scarring. Current treatment options are extremely limited, making this a significant unmet medical need affecting millions of people globally. The company also has a smaller program called HepTcell, an immunotherapy for chronic hepatitis B infection, though this represents a minor portion of the company's focus and resources.
Revenue model
As a clinical-stage biopharmaceutical company, Altimmune does not yet generate meaningful revenue from product sales. The company's minimal revenue of approximately $5,000 per quarter comes from small research collaborations or licensing activities. Instead, Altimmune operates on a research and development investment model, funded primarily through equity financing and now supplemented by debt facilities. The company's path to profitability depends on successfully advancing pemvidutide through clinical trials and ultimately gaining regulatory approval. Biotech companies typically monetize their assets through several potential avenues: direct commercialization after FDA approval, licensing deals with larger pharmaceutical companies, or outright acquisition. Altimmune is actively seeking partnership opportunities, particularly for its obesity program, which could provide upfront payments, milestone payments, and future royalties. The company's business model faces several factors that could impact its financial trajectory. Positive factors include the massive and growing obesity market (estimated at over $100 billion globally), limited competition in the NASH treatment space, and the potential for pemvidutide's dual mechanism to command premium pricing. The preservation of lean muscle mass during weight loss could differentiate pemvidutide from existing GLP-1 treatments, potentially supporting higher market share and pricing. Challenging factors include intense competition in the obesity space from established players like Novo Nordisk and Eli Lilly, the high cost and risk of Phase 3 clinical trials (estimated at hundreds of millions of dollars), regulatory uncertainty, and the company's current cash burn rate of approximately $80 million annually. The company must also navigate potential safety concerns that could emerge in larger trials, manufacturing scale-up challenges, and the possibility that competitors may develop superior products before pemvidutide reaches market. The timeline to potential revenue generation extends several years into the future, with Phase 3 trials for obesity planned to begin in early 2026 and potential market entry not expected until the late 2020s at the earliest.
Competitive moat
Altimmune's competitive positioning is relatively weak compared to established pharmaceutical companies, though it possesses some potentially differentiating characteristics. The company's primary asset, pemvidutide, operates in highly competitive markets where larger, well-funded competitors have significant advantages. In the obesity market, Altimmune faces formidable competition from Novo Nordisk's semaglutide (Wegovy) and Eli Lilly's tirzepatide (Zepbound), both of which have achieved remarkable commercial success and have extensive clinical data supporting their efficacy and safety. These companies possess vast manufacturing capabilities, established distribution networks, and deep financial resources that Altimmune cannot match. However, pemvidutide may offer some differentiating factors that could create a modest competitive moat. The drug's dual GLP-1/glucagon mechanism appears to preserve lean muscle mass better than existing treatments, addressing a significant concern with current obesity medications. Clinical data suggests 74.5% of weight loss comes from fat rather than muscle, compared to less favorable ratios with competitors. Additionally, pemvidutide demonstrates significant liver fat reduction, potentially offering benefits for patients with concurrent liver conditions. In the NASH/MASH space, Altimmune faces less immediate competition, as this remains a market with significant unmet medical need and few approved treatments. The company's strategy to target both NASH resolution and fibrosis improvement at 24 weeks, combined with meaningful weight loss, could establish a strong position if successful. The company's most significant vulnerability lies in its dependence on a single asset and limited financial resources to compete against pharmaceutical giants. Patent protection provides some temporary exclusivity, but the fundamental challenge remains that larger competitors can develop similar or superior compounds with greater resources and speed. Altimmune's survival likely depends on either achieving exceptional clinical results that clearly differentiate pemvidutide, or securing a partnership with a larger pharmaceutical company that can provide the resources needed to compete effectively.
Risks & safety
Altimmune presents a mixed margin of safety profile typical of clinical-stage biotechnology companies, with strong liquidity but significant execution risks. • Liquidity Position: Strong cash position of $150 million as of Q1 2025, supplemented by a $100 million credit facility with Hercules Capital, providing substantial runway through first half of 2026 • Debt Level: Minimal debt with debt-to-equity ratio of 0.0%, indicating low financial leverage risk • Current Ratio: Excellent at 15.8x, demonstrating strong ability to meet short-term obligations • Cash Burn: High quarterly cash burn of approximately $17-20 million, with annual operating cash flow negative $80 million, requiring continued funding • Valuation Metrics: Trading at negative P/E ratios due to losses; Graham Net-Net ratio of 1.79 suggests reasonable asset backing • Revenue Risk: Essentially no current revenue ($5,000 quarterly), making the company entirely dependent on clinical success and future partnerships • Clinical Risk: Single-asset dependence on pemvidutide creates binary risk profile where trial failures could severely impact valuation • Competitive Risk: Operating in highly competitive markets against well-funded pharmaceutical giants • Timeline Risk: Multiple years away from potential revenue generation, requiring sustained funding and execution
Recent development
Over the past few years, Altimmune has undergone a significant strategic transformation, evolving from a multi-asset biotech company to a focused developer of pemvidutide for metabolic diseases. The company has systematically advanced its lead compound through multiple clinical trials while expanding its therapeutic scope. The most significant development has been the advancement of pemvidutide through Phase 2 trials in both obesity and NASH indications. In the obesity program, the company completed its 48-week MOMENTUM trial, demonstrating competitive weight loss of 15.6% at the highest dose, with the crucial differentiator of superior lean mass preservation. This led to FDA alignment on a comprehensive Phase 3 registration program targeting approximately 5,000 patients across four Velocity trials. Simultaneously, Altimmune has been advancing the NASH program through its Phase 2b IMPACT trial, which completed enrollment and is expected to report results in Q2 2025. The company is positioning pemvidutide as potentially the first incretin therapy to demonstrate statistical significance in both NASH resolution and fibrosis improvement at 24 weeks, combined with meaningful weight loss. A major strategic pivot has been the company's focus on partnership development, particularly for the obesity indication. Management has been actively engaging with potential pharmaceutical partners, recognizing the substantial capital requirements for Phase 3 development and commercialization. The company secured a $100 million credit facility with Hercules Capital to strengthen its negotiating position and extend its operational runway. Recent developments include expansion into additional therapeutic areas, with the company planning to initiate Phase 2 trials in alcohol use disorder and alcohol liver disease in 2025. This represents a strategic expansion leveraging pemvidutide's unique glucagon mechanism for conditions where both metabolic and liver benefits could provide therapeutic value. The company has also been strengthening its leadership team and board, adding pharmaceutical industry veterans to support its transition from clinical development to potential commercialization phases.
ALT company profile · for informational purposes only — not investment advice.
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