ALT · Altimmune, Inc.

Altimmune reported a Q1 2026 net loss of $22.6 million, or $0.18 per share, compared to $19.6 million, or $0.26 per share, in the prior year quarter, reflecting a narrower per-share loss due to increased shares outstanding from recent financings. R&D expenses rose slightly to $16.2 million from $15.8 million, driven by ongoing AUD and ALD trials and PERFORMA Phase 3 startup costs, offset by completion of the IMPACT Phase 2b MASH trial. G&A expenses increased to $8.1 million from $6.0 million, primarily due to severance and professional fees. Interest income of $2.9 million partially offset operating losses. The company's balance sheet strengthened significantly, with cash, cash equivalents, and short-term investments at $332 million as of March 31, 2026, rising to $535 million by April 30 following a $225 million oversubscribed public offering, plus earlier $75 million direct offering and $8.9 million ATM proceeds. This cash position supports key milestones: PERFORMA Phase 3 MASH trial initiation in H2 2026 (protocol finalized and FDA/EMA-aligned), RECLAIM Phase 2 AUD topline data in Q3 2026 (enrollment completed ahead of schedule), and RESTORE Phase 2 ALD enrollment completion in Q3 2026. Pemvidutide's FDA Breakthrough Therapy Designation for MASH, based on IMPACT data, underscores its potential, with additional 48-week data presentations at EASL 2026. CEO Jerry Durso highlighted the strong cash position enabling execution on pemvidutide for serious liver diseases.