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Altimmune Inc (ALT)
NASDAQ:ALT
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Altimmune (ALT) AI Stock Analysis

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ALT

Altimmune

(NASDAQ:ALT)

Rating:51Neutral
Price Target:
$3.50
▼(-1.13% Downside)
Altimmune's overall stock score reflects a mix of financial challenges and promising clinical developments. The most significant factor is the company's weak financial performance, marked by persistent losses and negative cash flows. However, the positive earnings call and corporate events highlight potential breakthroughs in clinical trials, offering a more optimistic outlook for future growth. Technical analysis and valuation remain concerns, with bearish trends and unattractive valuation metrics.
Positive Factors
Drug Development
Analyst reiterates a Buy rating for Altimmune as pemvidutide advances toward Phase 3 in MASH, with pivotal catalysts poised to de-risk the path forward.
Leadership
The appointment of Jerry Durso as Chair, former CEO of Intercept Pharmaceuticals, aligns with Altimmune's transition into late-stage development.
Negative Factors
Financial Challenges
The balance sheet hinders pemvidutide development.
Market Competition
Pemvidutide lacks clear differentiation in the increasingly competitive MASH market.

Altimmune (ALT) vs. SPDR S&P 500 ETF (SPY)

Altimmune Business Overview & Revenue Model

Company DescriptionAltimmune, Inc., a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide (proposed INN, formerly known as ALT-801), is a GLP-1/glucagon dual receptor agonist that is in Phase 1b trial for the treatment of obesity and non-alcoholic steatohepatitis. It is also developing HepTcell, an immunotherapeutic product candidate, which is in Phase 2 clinical trial for patients chronically infected with the hepatitis B virus. The company was formerly known as Vaxin Inc. and changed its name to Altimmune, Inc. in September 2015. Altimmune, Inc. was founded in 1997 is headquartered in Gaithersburg, Maryland.
How the Company Makes MoneyAltimmune generates revenue primarily through the development of its therapeutic candidates, which may include milestone payments from partnerships with larger pharmaceutical companies. The company has engaged in collaborations and licensing agreements that provide upfront payments, research funding, and royalties on sales of products developed through these partnerships. Additionally, Altimmune may receive funding through government grants or contracts aimed at supporting the development of its vaccines and therapies, particularly those related to infectious diseases. As the company progresses its drug candidates through clinical trials and toward commercialization, potential revenue from product sales could become a significant source of income.

Altimmune Earnings Call Summary

Earnings Call Date:Aug 12, 2025
(Q2-2025)
|
% Change Since: 4.73%|
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Positive
The earnings call presents a largely positive outlook for Altimmune, emphasizing significant advances in clinical trials, particularly for NASH, and a strong financial position. However, challenges remain in achieving statistical significance for fibrosis improvement and navigating regulatory pathways for noninvasive testing.
Q2-2025 Updates
Positive Updates
IMPACT Trial Success
Pembiguate achieved statistical significance in the primary endpoint of NASH resolution and across multiple objective measures of efficacy, including noninvasive markers of inflammation and fibrosis, liver fat reduction, and weight loss at 24 weeks.
Strong Financial Position
Altimmune concluded the second quarter with $183.1 million in cash, marking a 40% increase over the start of the year, boosted by $88 million in gross equity capital and a $100 million Hercules debt facility.
Advancement in Phase II Trials
Phase II trials in Alcohol Use Disorder (AUD) and Alcohol-Associated Liver Disease (ALD) are underway, with promising potential given the unmet needs in these areas.
Potentially Class-Leading Safety and Tolerability
Pembiguate demonstrated excellent tolerability without dose titration, with only a single adverse event-related discontinuation in the treatment arms.
Negative Updates
Fibrosis Improvement Not Statistically Significant
The IMPACT trial did not reach statistical significance in fibrosis improvement despite clear evidence of antifibrotic activity, which could impact regulatory approval prospects.
Ongoing Regulatory Uncertainty
The regulatory pathway for noninvasive test-based approvals remains uncertain, with discussions ongoing about incorporating these measures into Phase III trials.
Company Guidance
In the Altimmune Second Quarter 2025 Financial Results Conference Call, several key metrics and updates were highlighted. The company reported $183.1 million in cash and cash equivalents, reflecting a 40% increase from the beginning of the year, bolstered by an $88 million equity capital raise and a $100 million Hercules debt facility. The IMPACT trial's 24-week data showed pembidutide achieved statistical significance in NASH resolution, demonstrating significant improvements in noninvasive markers of inflammation and fibrosis, liver fat reduction, and weight loss, while maintaining a strong safety and tolerability profile. R&D expenses for the quarter were $17.2 million, with $11.2 million directly attributed to pembidutide development. The company plans to leverage these data in their upcoming end-of-phase-two meeting with the FDA in Q4 2025. Additionally, Altimmune has initiated Phase II trials for AUD and ALD, focusing on the 2.4 mg weekly dose of pemphidutide, and plans to report full 48-week data later in the year.

Altimmune Financial Statement Overview

Summary
Altimmune's financial performance reflects significant challenges typical of early-stage biotech firms. The income statement shows net losses and declining revenues, while the cash flow statement indicates substantial cash burn. Despite a strong equity position and low leverage, the firm relies heavily on external financing.
Income Statement
20
Very Negative
Altimmune's income statement reveals consistent net losses, with a worsening net profit margin over the TTM. Revenue has sharply declined from previous years, indicating significant challenges in revenue generation. The gross profit margin is negative, reflecting higher costs than revenues, a common issue in early-stage biotech firms focusing on R&D. The EBIT and EBITDA margins are deeply negative, highlighting limited operational efficiency and profitability.
Balance Sheet
65
Positive
The balance sheet shows a strong equity position with a low debt-to-equity ratio, indicating prudent financial management and low leverage risk. The equity ratio is high, supported by substantial stockholders' equity relative to total assets, suggesting financial stability. However, the recurring net losses impact the return on equity, which remains negative, reflecting challenges in generating shareholder value.
Cash Flow
30
Negative
Altimmune's cash flow statement underscores significant cash burn from operations, characteristic of R&D-intensive biotech companies. The operating cash flow and free cash flow are both negative, indicating the firm relies on external financing, which is partially mitigated by positive trends in financing cash flow. The company shows no significant free cash flow growth, posing a risk to long-term sustainability without continued external funding.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue20.00K20.00K426.00K-68.00K4.41M8.19M
Gross Profit-10.00K20.00K-51.00K-568.00K-69.43M-25.32M
EBITDA-89.10M-94.81M-87.94M-84.40M-96.53M-54.15M
Net Income-87.75M-95.06M-88.45M-84.71M-97.09M-49.04M
Balance Sheet
Total Assets190.35M139.31M210.64M206.93M218.86M245.12M
Cash, Cash Equivalents and Short-Term Investments183.10M131.89M197.81M184.88M190.30M215.92M
Total Debt15.85M1.68M671.00K1.12M1.53M1.82M
Total Liabilities28.98M15.80M16.54M21.64M19.73M19.24M
Stockholders Equity161.37M123.51M194.10M185.29M199.13M225.88M
Cash Flow
Free Cash Flow-81.58M-79.85M-75.86M-62.71M-90.55M-34.65M
Operating Cash Flow-81.57M-79.85M-75.81M-62.59M-78.24M-34.44M
Investing Cash Flow110.84M-28.39M13.73M-73.40M87.52M-72.09M
Financing Cash Flow96.71M10.04M86.11M56.78M65.10M213.49M

Altimmune Technical Analysis

Technical Analysis Sentiment
Negative
Last Price3.54
Price Trends
50DMA
4.49
Negative
100DMA
4.86
Negative
200DMA
5.98
Negative
Market Momentum
MACD
-0.21
Negative
RSI
39.37
Neutral
STOCH
31.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALT, the sentiment is Negative. The current price of 3.54 is below the 20-day moving average (MA) of 3.63, below the 50-day MA of 4.49, and below the 200-day MA of 5.98, indicating a bearish trend. The MACD of -0.21 indicates Negative momentum. The RSI at 39.37 is Neutral, neither overbought nor oversold. The STOCH value of 31.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ALT.

Altimmune Risk Analysis

Altimmune disclosed 64 risk factors in its most recent earnings report. Altimmune reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Altimmune Peers Comparison

Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
$1.08B23.1518.17%1218.82%
60
Neutral
HK$19.22B4.48-1.43%3.30%11.19%-15.58%
55
Neutral
$634.52M344.74%-47.32%-26.67%
51
Neutral
$319.49M-55.91%-95.11%27.25%
43
Neutral
$941.12M-43.82%-7.33%
41
Neutral
$465.75M-52.18%187.52%26.32%
33
Underperform
$856.10M-109.12%7.58%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ALT
Altimmune
3.54
-3.32
-48.40%
AUTL
Autolus Therapeutics
1.75
-2.22
-55.92%
STOK
Stoke Therapeutics
19.56
5.38
37.94%
ORIC
Oric Pharmaceuticals
9.74
-0.44
-4.32%
IVA
Inventiva
4.48
2.08
86.67%
SANA
Sana Biotechnology
3.58
-2.26
-38.70%

Altimmune Corporate Events

Product-Related AnnouncementsBusiness Operations and Strategy
Altimmune Announces Positive Phase 2b Trial Results
Positive
Jun 26, 2025

On June 26, 2025, Altimmune announced positive topline results from its IMPACT Phase 2b trial of pemvidutide for treating metabolic dysfunction-associated steatohepatitis (MASH). The trial showed significant MASH resolution and weight loss in participants treated with pemvidutide compared to placebo, with low discontinuation rates due to adverse events. These results suggest pemvidutide’s potential as a transformative therapy for MASH, a condition with limited current treatment options, and support further progression to Phase 3 trials.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 19, 2025