Quarterly ResultMay 13, 2026, 07:32 AM
Altimmune Q1 Net Loss $22.6M; $535M Cash; PERFORMA Phase 3 MASH Trial H2 2026
AI Summary
Altimmune reported a net loss of $22.6 million, or $0.18 per share, for the first quarter ended March 31, 2026. The company significantly strengthened its balance sheet, holding $535 million in cash, cash equivalents, and short-term investments as of April 30, 2026, following recent public offerings. Key clinical milestones include the planned initiation of the PERFORMA Phase 3 MASH trial in the second half of 2026 for pemvidutide, which has Breakthrough Therapy Designation, and anticipated topline data from the RECLAIM Phase 2 AUD trial in Q3 2026. Enrollment completion for the RESTORE Phase 2 ALD trial is also expected in Q3 2026.
Key Highlights
- Cash, cash equivalents, and short-term investments totaled $535 million as of April 30, 2026.
- Net loss for Q1 2026 was $22.6 million, or $0.18 net loss per share.
- Research and development expenses were $16.2 million in Q1 2026, up from $15.8 million in Q1 2025.
- General and administrative expenses were $8.1 million in Q1 2026, up from $6.0 million in Q1 2025.
- Initiation of the PERFORMA Phase 3 MASH trial is planned for the second half of 2026.
- Topline data from the RECLAIM Phase 2 AUD trial is expected in the third quarter of 2026.
- Enrollment completion for the RESTORE Phase 2 ALD trial is expected in the third quarter of 2026.
- The company raised $225.0 million gross proceeds from an oversubscribed public offering in April 2026.