Altimmune (NASDAQ:ALT) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Altimmune reported a quarterly loss of $0.15 per share, missing analysts’ consensus estimate of a $0.13 loss by $0.02.
• The company said its Phase III PERFORMA MASH trial is enrolling as planned, with more than 70 U.S. sites active; it expects 52-week data in 2029.
• Altimmune ended the quarter with $480 million in cash and investments, which it expects to fund operations through the PERFORMA readout. Shares fell 13.7% during Thursday trading.

Altimmune (NASDAQ:ALT - Get Free Report) posted its earnings results on Thursday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02), FiscalAI reports.

Here are the key takeaways from Altimmune's conference call:

• PERFORMA, the global Phase III MASH trial, is enrolling and progressing as planned. More than 70 U.S. sites are active, with ex-U.S. sites expected to come online in the coming months; the company anticipates 52-week data in 2029.
• Management described Phase II RECLAIM results in alcohol use disorder as strong, citing improvements in heavy drinking and other measures, including objective PEth results. An FDA end-of-Phase II meeting is scheduled for December to discuss a potential Phase III design, but the company has not yet provided a start timeline and is seeking funding options.
• Altimmune ended the quarter with $480 million in cash, cash equivalents, and investments and expects its runway to extend through the PERFORMA 2029 readout. Q3 R&D expense rose to $27 million from $15 million a year earlier, primarily reflecting development activity, while net loss increased to $31.6 million from $19 million.
• The 121-patient RESTORE Phase II ALD trial is evaluating liver outcomes over 48 weeks, with top-line results expected in the second half of 2027. Management says the findings could support pemvidutide’s development in AUD as well, though it did not forecast the size of the potential treatment effect.

Altimmune Stock Down 13.7%

Shares of ALT traded down $0.27 during mid-day trading on Thursday, reaching $1.67. The company had a trading volume of 8,195,132 shares, compared to its average volume of 4,226,646. The company has a debt-to-equity ratio of 0.07, a quick ratio of 26.78 and a current ratio of 26.78. The firm has a 50-day moving average price of $2.65 and a 200 day moving average price of $3.19. Altimmune has a 52 week low of $1.63 and a 52 week high of $6.44. The company has a market capitalization of $323.87 million, a price-to-earnings ratio of -2.13 and a beta of 0.16.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Altimmune in a research report on Monday, September 21st. Evercore restated an "outperform" rating on shares of Altimmune in a report on Wednesday, September 23rd. Finally, HC Wainwright restated a "buy" rating on shares of Altimmune in a report on Tuesday, July 28th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Altimmune presently has an average rating of "Moderate Buy" and an average target price of $14.33.

About Altimmune

Altimmune, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for obesity and liver diseases. The company is headquartered in Gaithersburg, Maryland. Its lead candidate, pemvidutide, is an investigational medicine that activates GLP-1 and glucagon receptors. Altimmune has studied the drug for obesity and metabolic dysfunction-associated steatohepatitis (MASH), a serious form of fatty liver disease. Altimmune's work focuses on advancing treatments through clinical development; pemvidutide is not an approved medicine.

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