Altimmune, Inc.
ALT evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for ALT—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · ALT
Altimmune, Inc. is a clinical-stage biopharmaceutical company developing pemvidutide, a GLP-1/glucagon dual receptor agonist, for metabolic diseases including MASH, obesity, and alcohol-related liver disease, with no approved products and a history of operating losses.
Key risk: No approved products or revenue
BioSniper Score
Based on 6 of 6 signals
Market Cap
$605.0M
Cash Runway
39.1 moLead Asset
pemvidutide (Phase 2)Next Catalyst
Phase2_Topline · Dec 31, 2026Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 4 clinical trials · 1 catalyst for Altimmune, Inc..
Altimmune, Inc. is a clinical-stage biopharmaceutical company developing pemvidutide, a GLP-1/glucagon dual receptor agonist, for metabolic diseases including MASH, obesity, and alcohol-related liver disease, with no approved products and a history of operating losses.
- Altimmune has no approved products and has not generated any revenue from product sales to date [sec_mda · as of 2026-08-12].
- As of June 30, 2026, the company reported cash, cash equivalents, restricted cash, and short-term investments of $326.3 million, with an accumulated deficit of $694.9 million [sec_mda · as of 2026-08-12].
- The company is advancing pemvidutide through clinical trials including a Phase 2 trial in obesity, a Phase 2 trial in MASH, and a Phase 2 trial in alcohol-related liver disease (ALD/AUD) [sec_mda · as of 2026-05-13].
- Research and development expenses increased in early 2026 due to ongoing ALD/AUD trials and startup costs for the PERFORMA Phase 3 trial in MASH [sec_mda · as of 2026-05-13].
- Management believes current cash is sufficient to fund operations for at least twelve months from the issuance of the June 30, 2026 financial statements [sec_mda · as of 2026-08-12].
What works
- The company has a substantial cash position of $326.3 million as of June 30, 2026, providing a multi-year operational runway [sec_mda · as of 2026-08-12].
- Pemvidutide is being evaluated in multiple high-need indications (MASH, obesity, ALD/AUD), diversifying clinical risk [sec_mda · as of 2026-05-13].
- The company has initiated a Phase 3 trial (PERFORMA) in MASH, indicating confidence in the asset's profile [sec_mda · as of 2026-05-13].
What to weigh
- Altimmune has never generated product revenue and has an accumulated deficit of $694.9 million as of June 30, 2026 [sec_mda · as of 2026-08-12].
- The company will need additional financing or partnerships to fund long-term operations and planned clinical trials [sec_mda · as of 2025-11-06].
- Clinical development is highly uncertain; the company acknowledges that the successful development of product candidates is highly uncertain and may never result in approved products [sec_mda · as of 2026-03-06].
- Net income for the six months ended June 30, 2026 was -$22.8 million, reflecting ongoing operating losses [sec].
From the filings
Quoted directly from source documents.
No product revenue to date
“We have not generated any revenues from the sale of any products to date and there is no assurance of any future revenues from product sales.”
SEC MD&A · August 12, 2026
R&D expense increase driven by ALD/AUD and MASH Phase 3 startup
“The increase in research and development expenses was due primarily to the ongoing ALD and AUD trials as well as the startup costs for PERFORMA Phase 3 trial in MASH”
SEC MD&A · May 13, 2026
Uncertainty of product success
“The successful development of our product candidates is highly uncertain and may never result in approved products.”
SEC MD&A · March 6, 2026
Catalyst timeline
- 2026-12-31 · Phase2_Topline · pemvidutide — Phase 2 Readout: pemvidutide — Topline results from the Phase 2 obesity trial will provide key efficacy and safety data for pemvidutide in this indication.
Risks & what to watch (4)›
Key risks
- No approved products or revenue — Altimmune has never generated product revenue and may never do so [sec_mda · as of 2026-08-12].
- Substantial accumulated deficit — Accumulated deficit of $694.9 million as of June 30, 2026, with ongoing net losses [sec_mda · as of 2026-08-12].
- Need for future financing — Long-term capital needs require additional equity/debt or partnerships to fund planned trials [sec_mda · as of 2025-11-06].
- Clinical development uncertainty — Success of pemvidutide is highly uncertain and may never lead to regulatory approval [sec_mda · as of 2026-03-06].
What to watch
- Phase 2 topline data for pemvidutide in obesity, expected by end of 2026 [catalyst].
- Enrollment and interim data from the PERFORMA Phase 3 trial in MASH [sec_mda · as of 2026-05-13].
- Updates from the Phase 2 trial in alcohol-related liver disease (ALD/AUD) [sec_mda · as of 2026-05-13].
- Cash burn rate and any new financing or partnership announcements [sec_mda · as of 2026-08-12].
Sources: SEC MD&A · Generated August 19, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
39.1 months
D/E 0.11 · 0% dilution
Lead: Phase 2
3 candidates
1 upcoming, next in ~123d
6 buys · 0 sells (180d)
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
171
Total value held
$229.3M
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 12,795,277 | $39.4M |
| vanguard capital management llc | 11,316,098 | $34.9M |
| state street corp | 7,145,550 | $22.0M |
| vanguard portfolio management llc | 5,382,002 | $16.6M |
| marshall wace, llp | 4,017,901 | $12.4M |
| millennium management llc | 3,258,191 | $10.0M |
| geode capital management, llc | 3,107,096 | $9.6M |
| alyeska investment group, l.p. | 2,644,600 | $8.1M |
| two sigma investments, lp | 2,478,900 | $7.6M |
| susquehanna international group, llp | 2,442,356 | $7.5M |
Showing top 10 of 171 institutional holders of Altimmune, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 28, 2026- % of float
- 22.1%
- Days to cover
- 9.4
- Shares short
- 28,734,631
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
ALT short interestGovernance
Frequently asked questions
What is the AI investment thesis for Altimmune, Inc.?
Altimmune, Inc. is a clinical-stage biopharmaceutical company developing pemvidutide, a GLP-1/glucagon dual receptor agonist, for metabolic diseases including MASH, obesity, and alcohol-related liver disease, with no approved products and a history of operating losses.
What is Altimmune, Inc.'s lead drug candidate?
Altimmune, Inc.'s most advanced tracked candidate is pemvidutide (Phase 2) for Alcohol-associated Liver Disease; Alcohol Use Disorder (AUD).
What is Altimmune, Inc.'s next catalyst?
Altimmune, Inc.'s next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: pemvidutide" — expected December 31, 2026.
Who is the CEO of Altimmune, Inc.?
Mr. Jerome Benedict Durso is the chief executive officer of Altimmune, Inc. (ALT).
Where is Altimmune, Inc. headquartered?
Altimmune, Inc. (ALT) is headquartered in Gaithersburg, MD, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.