Altimmune, Inc.
ALT evidence brief
What we can confirm
- BioSniper Score:
- 7.7 / 10
- Market Cap:
- $640.0M
- Lead Asset:
- pemvidutide (Phase 3)
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 late clinical-stage biopharmaceutical company developing pemvidutide, a dual GLP-1/glucagon receptor agonist, for serious liver diseases including MASH, alcohol use disorder, and alcohol-associated liver disease.
Key risk: No revenue and net loss
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 5 clinical trials for Altimmune, Inc..
Altimmune, Inc. is a late clinical-stage biopharmaceutical company developing pemvidutide, a dual GLP-1/glucagon receptor agonist, for serious liver diseases including MASH, alcohol use disorder, and alcohol-associated liver disease.
- Altimmune reported cash, cash equivalents and investments of $519 million as of June 30, 2026 [news · 2026-08-12].
- The company initiated the global PERFORMA Phase 3 trial for pemvidutide in MASH in August 2026 [news · 2026-08-03].
- Positive topline data from the RECLAIM Phase 2 trial in alcohol use disorder (AUD) were reported in August 2026 [news · 2026-08-12].
- Patient enrollment was completed in the RESTORE Phase 2 trial in alcohol-associated liver disease (ALD) as of August 2026 [news · 2026-08-12].
- Pemvidutide is a GLP-1/glucagon dual receptor agonist with a proprietary EuPort domain designed for weekly dosing and gastrointestinal tolerability [pipeline].
What works
- Altimmune holds a strong cash position of $519 million as of June 30, 2026, which is expected to support operations into 2029 [news · 2026-08-12][news · 2026-08-13].
- The company has advanced pemvidutide into Phase 3 development for MASH, a large market, following positive Phase 2b data [news · 2026-08-03].
- Positive Phase 2 data in AUD and completed enrollment in ALD suggest potential pipeline expansion beyond MASH [news · 2026-08-12].
What to weigh
- Altimmune reported a net loss of -$22.8 million for the period ending June 30, 2026, with no revenue stream disclosed [latest reported financials].
- The company faces long clinical timelines and ongoing funding needs, with execution risks remaining for its multiple programs [news · 2026-08-19].
- Pemvidutide operates in a competitive landscape with at least three competitors in similar indications [pipeline].
From the filings
Quoted directly from source documents.
Altimmune initiated the PERFORMA Phase 3 trial for pemvidutide in MASH in August 2026.
“Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company focused on serious liver diseases, today announced that the company has begun enrolling patients in the PERFORMA Phase”
News · August 3, 2026
Altimmune reported positive topline data from the RECLAIM Phase 2 trial in AUD.
“Reported positive topline data from RECLAIM Phase 2 trial in AUD”
News · August 12, 2026
Pemvidutide is a GLP-1/glucagon dual receptor agonist with a proprietary EuPort domain.
“GLP-1/glucagon dual receptor agonist. Combines GLP-1 activity for reduction of appetite and inflammation with glucagon activity including increased energy expenditure, adipose browning and mobilization of liver fat through lipolysis and reduction of lipid synthesis. Incorporates a proprietary EuPort domain designed to enhance pharmacokinetics for gastrointestinal tolerability and permit weekly dosing.”
Altimmune had $519 million in cash, cash equivalents and investments as of June 30, 2026.
“$519 million in cash, cash equivalents and investments as of June 30, 2026”
News · August 12, 2026
Catalyst timeline
- 2023-07-27 · Phase 2 Start for NASH (now MASH) study — Initiation of a Phase 2 trial evaluating pemvidutide in non-cirrhotic NASH subjects.
- 2025-05-15 · RECLAIM Phase 2 start for AUD — Start of a Phase 2 study evaluating pemvidutide in alcohol use disorder with obesity or overweight.
- 2025-06-16 · RESTORE Phase 2 start for ALD — Initiation of a Phase 2 trial for pemvidutide in alcohol-associated liver disease.
- 2026-07-30 · PERFORMA Phase 3 start for MASH — Global registrational Phase 3 trial for pemvidutide in MASH began enrolling patients.
Risks & what to watch (3)›
Key risks
- No revenue and net loss — Altimmune reported a net loss of -$22.8M as of 2026-06-30 with no disclosed revenue, indicating reliance on cash reserves [latest reported financials].
- Long clinical timelines — Phase 3 MASH trial and Phase 2 AUD/ALD studies involve multi-year timelines, with funding needs and execution risks [news · 2026-08-19].
- Competitive pressure — Pemvidutide faces at least three competitors in similar indications, including Green Cross Wellbeing's LAENNEC in Phase 3 [pipeline].
What to watch
- Progress and data from the PERFORMA Phase 3 MASH trial, initiated August 2026 [news · 2026-08-03].
- Topline results from the RESTORE Phase 2 trial in ALD, with enrollment completed as of August 2026 [news · 2026-08-12].
- Cash runway and spending rate, with $519M as of June 30, 2026 expected to support operations into 2029 [news · 2026-08-13].
- Competitive developments from other dual agonists and GLP-1-based therapies targeting liver disease [pipeline].
Sources: Catalysts · News · Pipeline · Generated October 4, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.11 · 0% dilution
Lead: Phase 3
3 candidates
No upcoming catalysts tracked
1 buy · 0 sells (180d)
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
171
Total value held
$212.1M
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 12,795,277 | $39.4M |
| state street corp | 7,145,550 | $22.0M |
| vanguard capital management llc | 5,658,049 | $17.4M |
| 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 |
| nuveen, llc | 2,334,601 | $7.2M |
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 late clinical-stage biopharmaceutical company developing pemvidutide, a dual GLP-1/glucagon receptor agonist, for serious liver diseases including MASH, alcohol use disorder, and alcohol-associated liver disease.
What is Altimmune, Inc.'s lead drug candidate?
Altimmune, Inc.'s most advanced tracked candidate is pemvidutide (Phase 3) for Alcohol-associated Liver Disease; Metabolic Dysfunction-Associated Steatohepatitis (MASH); Alcohol Use Disorder (AUD).
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.
What therapeutic areas does Altimmune, Inc. focus on?
Altimmune, Inc. develops therapies across Oncology, Infectious Disease, Metabolic, Gastroenterology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.