ALTIMMUNE Reports Positive Phase 2b Results for Pemvidutide
By ATTN Desk · Editorial oversight: Sean Han
Introduction
ALTIMMUNE INC (ticker: ALT) is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland. Founded in 1997, the company focuses on the development of peptide-based therapeutics targeting obesity and liver diseases. Its lead candidate, pemvidutide, is a GLP-1/glucagon dual receptor agonist under evaluation for metabolic dysfunction-associated steatohepatitis (MASH) and obesity. ALTIMMUNE INC trades on the NASDAQ exchange under the symbol “ALT.”
Corporate Structure
ALTIMMUNE INC is organized as a public company with a workforce of 11–50 employees. In June 2025, the board of directors expanded with the appointments of Jerry Durso and Teri Lawver, adding multi-disciplinary expertise to support the company’s developmental strategies and governance.
Developments and News
In June 2025, ALTIMMUNE announced topline results from its Phase 2b IMPACT trial of pemvidutide in patients with MASH. The data indicated statistically significant resolution of MASH, alongside liver fat reduction and weight loss at 24 weeks.
During the week of June 7–11, 2025, members of the executive team presented oral and poster sessions on pemvidutide at the American Diabetes Association’s 85th Scientific Sessions in Chicago. In May 2025, the company initiated the RECLAIM Phase 2 trial assessing pemvidutide for alcohol use disorder (AUD), focusing on its potential to reduce alcohol consumption.
A Schedule 13G/A filing with the U.S. Securities and Exchange Commission in May 2025 revealed that Ameriprise Financial, Inc. holds 1,443,932 shares (1.9% of the class), while both TAM UK International Holdings Limited and Threadneedle Holdings Limited each report ownership of 1,324,639 shares (1.7% of the class).
Financial and Strategic Aspects
As of the market close on June 26, 2025, ALTIMMUNE INC shares were priced at $3.03, reflecting a 60.70% decline year-to-date. Trading volume that day reached 11,198,987 shares. Key metrics include:
| Metric | Value |
|---|---|
| 52-Week Range | $3.55 – $11.16 |
| Market Capitalization (intraday) | $552.3 million |
| Total Cash (most recent quarter) | $149.8 million |
| Total Debt/Equity (most recent quarter) | 1.12% |
| Net Income (TTM) | –$90.2 million |
| Diluted EPS (TTM) | –$1.26 |
| Levered Free Cash Flow (TTM) | –$47.7 million |
| Price/Book (most recent quarter) | 4.01 |
| Price/Sales (TTM) | 25,370 |
| 1-Year Target Estimate | $20.56 |
| Next Earnings Date | August 6–11, 2025 |
On May 13, 2025, the company filed its first quarter 2025 Form 10-Q, detailing ongoing research expenditures, cash burn, and pipeline progress but did not provide material updates to guidance. An 8-K filed on June 26, 2025, did not disclose additional financial commitments or strategic partnerships beyond those already public.
Market Position and Industry Context
ALTIMMUNE operates in the biotechnology sector alongside other developers of GLP-1 and dual-agonist therapies. The Phase 2b data for MASH positions pemvidutide in a therapeutic area with no approved treatments. However, the company remains unprofitable, relying on cash reserves and potential partnerships or capital raises to fund late-stage trials. Institutional ownership above 1.5% for three major investors reflects ongoing interest in its clinical programs.
tl;dr
ALTIMMUNE’s Phase 2b IMPACT trial results in June 2025 showed MASH resolution and weight loss at 24 weeks. The RECLAIM Phase 2 AUD study launched in May 2025. As of June 26, 2025, shares trade at $3.03 amid a 60.7% year-to-date decline, with $149.8 million in cash compared to $90.2 million in annual net losses. Upcoming catalysts include presentations at scientific conferences, a planned August 2025 earnings update, and potential data readouts that will inform the company’s next steps.