Altimmune, Inc. (ALT) stock soared 0.92% in the pre-market trading session at the price of $15.33 after it scheduled to report a 12-week Phase 1 clinical trial results of its ALT-801 on 28th September 2021. ALT is a clinical-stage biopharmaceutical company. It develops and commercializes therapies to treat obesity and liver diseases. NASH (ALT-801), a next-generation peptide therapeutics for obesity, is the company’s major pipeline.
Announcement of 12-Week Data From ALT-801 Phase 1 Trial
On 27th September 2021, ALT has scheduled to report 12-week Phase 1 clinical trial results of its ALT-801 related to overweight and obesity. The management will present data at a pre-market press release and webcast on Tuesday, 28th September 2021. The senior administration will host a conference call with a slide presentation at 8:30 am Eastern Time. The webcast will be available on the company’s website on the Investor Relations page.
ALT Second Quarter 2021 Financial Results
On 10th August 2021, ALT published an earnings report for the three- and six-months ending 30th June 2021 and provided business updates. CEO of Altimmune, Vipin K. Garg, remarked that the company had utilized its energies on its NASH and emerging obesity pipelines. Resultantly, they have observed inspiring interim data from the ALT-801 Phase 1 trial that strengthens the potential of these programs. Their encouraging financial growth empowered them to proceed with the ALT-801 development program. Their primary goal is to launch Phase 2 trials for NASH and obesity indications in early 2022, he added.
Financial Summary for Three and Six Months 2021
ALT reported cash, cash equivalents, and restricted cash of $217.9 million as of 30th June 2021. As of 31st December 2020, cash, cash equivalents, and restricted cash were $216.0 million. The company produced $18.2 million in net proceeds during the second quarter of 2021 compared to $52.4 million since the beginning of the year. Total revenue was $0.1 million for the three months ended on 30th June 2021. Revenue was $0.7 million during the same quarter of the previous year.
ALT reported a net loss of $24.8 million, or $0.60 net loss per share, for the three months ended on 30th June 2021. The net loss was $16.8 million or $0.94 net loss per share during the three months ended on 30th June 2020. For the six months ended on 30th June 2021, the net loss was $39.7 million, or $0.99 per share. The net loss was $20.7 million, or $1.25 net loss per share, during the same period of last year.
