The combination of improved financial position, reduced losses, and significant clinical progress with Breakthrough Therapy Designation suggests Altimmune is well-positioned for its Phase 3 MASH trial. Traders should monitor upcoming topline data from the RECLAIM trial in AUD in Q3 2026 as a potential catalyst.
Price Chart
Executive Summary
Altimmune reported financial results for Q4 and full year 2025, highlighted by a 7% reduction in net loss year-over-year and a strengthened balance sheet with $274 million in cash and short-term investments as of December 31, 2025. The company also announced key clinical developments, including FDA Breakthrough Therapy Designation for pemvidutide in MASH and plans to initiate a Phase 3 trial in 2026.
Key Financial Metrics
Key Facts
- Net loss for full year 2025 was $88.1 million, down from $95.1 million in 2024
- Cash, cash equivalents, and short-term investments totaled $274 million as of December 31, 2025, up 107% from $132 million in 2024
- Company raised $83 million in January 2026 through a registered direct offering and ATM facility
- Pemvidutide granted FDA Breakthrough Therapy Designation for MASH based on Phase 2b IMPACT trial data
- Phase 3 trial for pemvidutide in MASH planned for initiation in 2026
- Topline data from Phase 2 RECLAIM trial in AUD expected in Q3 2026
Financial Impact
Reduced net loss by $7 million year-over-year while increasing cash position by $142 million
Risk Factors
- Biotech clinical trial risk - Phase 3 trial success not guaranteed
- Dependence on continued funding for drug development
- Potential dilution from future capital raises
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001326190-26-000013 |
| Document: alt-20260305x8k.htm | 0001326190-26-000013 |
| Document: 0001326190-26-000013-index-headers.html | 0001326190-26-000013 |
| Document: 0001326190-26-000013-index.html | 0001326190-26-000013 |
| Document: 0001326190-26-000013.txt | 0001326190-26-000013 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 29, 2026 27d ago | 8-K | $2.97 $2.67 | ▼ −10.10% | ▼ −12.05% | $2.09 (−29.63%) |
Aug 12, 2026 10w ago | 8-K | $2.93 $3.12 | ▲ +6.48% | ▲ +6.93% | $2.09 (−28.67%) |
Aug 12, 2026 10w ago | Press Release | $2.93 $3.12 | ▲ +6.48% | ▲ +6.93% | $2.09 (−28.67%) |
Aug 6, 2026 11w ago | Institutional Cluster | $3.01 $2.88 | ▼ −4.32% | ▼ −5.53% | $2.09 (−30.56%) |
Aug 5, 2026 11w ago | Press Release | $3.03 $2.93 | ▼ −3.30% | ▼ −3.65% | $2.09 (−31.02%) |
Aug 3, 2026 12w ago | Press Release | $3.00 $3.05 | ▲ +1.67% | ▼ −0.36% | $2.09 (−30.33%) |
Jul 28, 2026 12w ago | 8-K | $2.99 $3.00 | ▲ +0.33% | ▼ −1.93% | $2.09 (−30.10%) |
May 28, 2026 21w ago | Press Release | $3.07 $2.87 | ▼ −6.51% | ▼ −6.47% | $2.09 (−31.92%) |
May 27, 2026 21w ago | Press Release | $2.98 $2.90 | ▼ −2.68% | ▼ −3.89% | $2.09 (−29.87%) |
May 13, 2026 23w ago | 8-K | $3.02 $2.74 | ▼ −9.27% | ▼ −8.11% | $2.09 (−30.79%) |
US Market Status
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