Altimmune announces Q3 earnings per share of 21 cents, below consensus estimate of 27 cents.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2025
0mins
Should l Buy ALT?
Q3 Revenue Report: Altimmune reported Q3 revenue of $5,000, significantly below the consensus estimate of $560,000, while highlighting advancements in their pemvidutide MASH program.
Upcoming Milestones: The company anticipates two key milestones, including an End-of-Phase 2 meeting with the FDA and the release of 48-week data from the IMPACT trial, which will inform the design of their Phase 3 MASH trial.
RECLAIM Trial Progress: Altimmune has completed patient recruitment for the RECLAIM trial focused on pemvidutide for alcohol use disorder, indicating a strong unmet need in this area.
Leadership Additions: The company is enhancing its management team with new appointments, including Dr. Christophe Arbet-Engels as Chief Medical Officer, Linda Richardson as Chief Commercial Officer, and Robin Abrams as Chief Legal Officer, all of whom bring significant expertise.
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Analyst Views on ALT
Wall Street analysts forecast ALT stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 2.890
Low
12.00
Averages
16.00
High
20.00
Current: 2.890
Low
12.00
Averages
16.00
High
20.00
About ALT
Altimmune, Inc. is a late clinical-stage biopharmaceutical company. The Company is developing novel therapies for serious liver diseases. Its lead product candidate, pemvidutide (formerly ALT-801), is a balanced 1:1 glucagon/GLP-1 dual receptor agonist in development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD) and alcohol-associated liver disease (ALD). The activation of glucagon receptors results in direct effects on the liver, including reductions in liver fat, inflammation and fibrosis, whereas the activation of GLP-1 receptors mediates suppression of appetite and reduction of cravings as well as metabolic effects such as weight loss. It has completed phase II development of pemvidutide. It also develops and commercializes surfactant-functionalized (EuPort domain) incretin-based peptide therapeutics, including (GLP-1-glucagon)/oxyntomodulin, and variants.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Funding for Clinical Trials: The proceeds from this offering will support the Phase 3 trial of Pemvidutide for metabolic dysfunction-associated steatohepatitis (MASH), which is expected to test multiple doses over 52 weeks, potentially accelerating drug approval through liver biopsy-based endpoints.
- FDA Breakthrough Therapy Designation: Pemvidutide received Breakthrough Therapy Designation from the FDA in January, aimed at expediting the development and review of treatments showing significant improvement over existing options, indicating strong market potential for the drug.
- Investor Sentiment Shift: Following the public offering announcement, retail sentiment on Stocktwits shifted from 'bullish' to 'neutral', with message volumes increasing by 182% in 24 hours, reflecting market concerns about the company's future and expectations of dilution.
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- Use of Proceeds: The net proceeds from this offering will fund the upcoming Phase 3 trial in MASH, as well as working capital and general corporate purposes, highlighting the company's commitment to future research and development.
- Market Reaction: Although Altimmune's stock closed up 1.76% at $3.47 on Wednesday, it plunged 12.39% to $3.04 in the overnight market, reflecting investor caution regarding the company's outlook.
See More
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- Offering Details: The offering includes 64.25 million shares of common stock and pre-funded warrants to purchase up to 10.75 million shares of common stock, with each security accompanied by common stock warrants at an exercise price of $3.00 per share, providing investors with additional potential upside.
- Underwriter Role: Leerink Partners and Barclays acted as joint bookrunning managers for the offering, indicating confidence from these financial institutions in Altimmune and potentially paving the way for the company's future capital market activities.
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See More
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- Warrant Details: Each accompanying warrant has an exercise price of $3.00, is immediately exercisable, and will expire 45 days after a successful Phase 3 trial data readout, indicating the company's confidence in its clinical trial outcomes.
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- Trading Performance Review: Following Valentine's purchase, CNXC peaked at $29.94 during trading, reflecting a 7.1% increase from the purchase price, although it fell about 1% on Friday, highlighting market volatility.
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- Leadership Transition Impact: Lululemon's announcement of a new CEO taking over in September led to a 13% drop in stock price, as investors expressed concerns over the uncertainty during the transition period, particularly with signs of weakness in North American sales prompting many shareholders to exit to mitigate risk.
- Lucid's Financial Health Concerns: Despite securing new funding and appointing a new CEO, Lucid's stock fell over 9% as investor worries about ongoing losses and high production costs overshadowed optimism, with Uber's increased stake failing to alleviate market concerns regarding its financial stability.
- Altimmune's Dilution Fears: Altimmune's announcement of a $225 million stock offering to fund its MASH clinical trial resulted in a 16% decline in stock price, as market fears of dilution intensified, even though the company plans to direct the proceeds toward its upcoming Phase 3 study.
- Retail Investor Sentiment: On social media, investors expressed disappointment in Lululemon's management capabilities, suggesting the company should consider a sale, while some Lucid investors believe the current stock price undervalues its assets, indicating market expectations for a potential rebound.
See More
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- Offering Overview: Altimmune has announced a public offering of approximately 64.3 million shares at $3 per share, along with warrants, raising a total of $225 million at a 13.5% discount, negatively impacting investor sentiment as shares fell about 13% in pre-market trading.
- Funding for Clinical Trials: The proceeds from this offering will support the Phase 3 trial of Pemvidutide for metabolic dysfunction-associated steatohepatitis (MASH), which is expected to test multiple doses over 52 weeks, potentially accelerating drug approval through liver biopsy-based endpoints.
- FDA Breakthrough Therapy Designation: Pemvidutide received Breakthrough Therapy Designation from the FDA in January, aimed at expediting the development and review of treatments showing significant improvement over existing options, indicating strong market potential for the drug.
- Investor Sentiment Shift: Following the public offering announcement, retail sentiment on Stocktwits shifted from 'bullish' to 'neutral', with message volumes increasing by 182% in 24 hours, reflecting market concerns about the company's future and expectations of dilution.
See More
Altimmune Prices Oversubscribed $225 Million Public Offering
- Fundraising Scale: Altimmune's priced public offering is expected to raise approximately $225 million in gross proceeds, comprising 64.25 million shares of common stock and 10.75 million pre-funded warrants, indicating strong market demand for its shares.
- Warrant Details: Each pre-funded warrant has a nominal exercise price of $0.001, while the common stock warrants have an exercise price of $3.00 per share, with a combined offering price of $2.999, providing investors with a lower entry point.
- Use of Proceeds: The net proceeds from this offering will fund the upcoming Phase 3 trial in MASH, as well as working capital and general corporate purposes, highlighting the company's commitment to future research and development.
- Market Reaction: Although Altimmune's stock closed up 1.76% at $3.47 on Wednesday, it plunged 12.39% to $3.04 in the overnight market, reflecting investor caution regarding the company's outlook.
See More
Altimmune Prices Oversubscribed Public Offering Raising $225 Million
- Funding Size: Altimmune successfully priced an oversubscribed public offering expected to raise approximately $225 million in gross proceeds, reflecting strong market demand for its stock and enhancing the company's financial capacity to support future R&D.
- Offering Details: The offering includes 64.25 million shares of common stock and pre-funded warrants to purchase up to 10.75 million shares of common stock, with each security accompanied by common stock warrants at an exercise price of $3.00 per share, providing investors with additional potential upside.
- Underwriter Role: Leerink Partners and Barclays acted as joint bookrunning managers for the offering, indicating confidence from these financial institutions in Altimmune and potentially paving the way for the company's future capital market activities.
- Market Reaction: Despite cautious sentiment regarding Altimmune's prospects, the successful financing demonstrates investor confidence in its potential products, particularly in the context of the company's plans for late-stage clinical trials.
See More
Altimmune Prices $225 Million Public Offering for Pemvidutide Development
- Offering Size: Altimmune announced the pricing of 64,250,000 shares of common stock at $3.00 per share, aiming to raise approximately $225 million, which underscores the company's fundraising capability and market confidence in its liver disease treatments.
- Warrant Details: Each accompanying warrant has an exercise price of $3.00, is immediately exercisable, and will expire 45 days after a successful Phase 3 trial data readout, indicating the company's confidence in its clinical trial outcomes.
- Use of Proceeds: The net proceeds from this offering will fund the upcoming Phase 3 trial in MASH and general working capital, reflecting the company's commitment to product development and responsiveness to market demands.
- Underwriter Arrangement: Leerink Partners and Barclays are acting as joint bookrunning managers for the offering, with Titan Partners as co-bookrunning manager, showcasing the company's strong network and resource integration capabilities in the capital markets.
See More
Concentrix and Altimmune Executives Increase Stock Holdings
- Concentrix CFO Purchase: Concentrix Corp's CFO Andre S. Valentine bought 2,500 shares of CNXC at $27.95 each, totaling $69,869, indicating confidence in the company's future performance.
- Trading Performance Review: Following Valentine's purchase, CNXC peaked at $29.94 during trading, reflecting a 7.1% increase from the purchase price, although it fell about 1% on Friday, highlighting market volatility.
- Altimmune Executive Trade: John Gill of Altimmune purchased 9,200 shares at $3.41 each on Monday, totaling $31,350, signaling his optimism about the company's prospects.
- Historical Trade Comparison: Prior to this purchase, Gill had bought 51,250 shares at $4.10 each over the past year, demonstrating his ongoing investment commitment to Altimmune, despite a 4.2% decline in stock price on Friday.
See More
