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: 3.420
Low
12.00
Averages
16.00
High
20.00
Current: 3.420
Low
12.00
Averages
16.00
High
20.00
About ALT
Altimmune, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing next-generation peptide-based therapeutics. It is developing pemvidutide, a GLP-1/glucagon dual receptor agonist for the treatment of obesity, metabolic dysfunction-associated steatohepatitis (MASH) and other indications. Activation of the GLP-1 and glucagon receptors is believed to mimic the complementary effects of diet and exercise on weight loss, with GLP-1 suppressing appetite and glucagon increasing energy expenditure. Glucagon is also recognized as having direct effects on hepatic fat metabolism, to rapid reductions in levels of liver fat and serum lipids. The Company has completed the MOMENTUM Phase II obesity trial and is being studied in the IMPACT Phase IIb MASH trial. The Company 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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- High-Dose Approval: The FDA has approved Novo Nordisk's high-dose Wegovy at 7.2 mg, set to launch in April, aiming to regain market share against Eli Lilly's Zepbound.
- Clinical Trial Results: In a phase three trial, high-dose Wegovy led to an average weight loss of 20.7% over 72 weeks, significantly outperforming the standard dose's 15%, enhancing its competitive edge.
- Increased Patient Options: The new dosage provides more options for patients who struggle to meet weight loss targets, as noted by Novo Nordisk's U.S. medical head, potentially improving treatment satisfaction and outcomes.
- Policy Support: This approval marks the first GLP-1 treatment under the FDA's new national priority voucher plan, aimed at expediting drug review times, highlighting Novo Nordisk's strategic positioning in the industry.
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Truist Initiates Buy Rating on Altimmune, Highlights Pemvidutide's Potential
- Therapeutic Potential: Truist has initiated coverage of Altimmune (ALT) with a buy rating, suggesting that its lead candidate pemvidutide could become a significant treatment for metabolic dysfunction-associated steatohepatitis (MASH), indicating strong market prospects.
- Price Target: The analyst set a price target of $12, which implies approximately 251% upside based on the March 18 close, reflecting optimistic market expectations for the drug's performance.
- Clinical Trial Results: The 48-week phase 2 MOMENTUM trial released in late 2023 showed an average weight loss of 15.6% at the highest tested dose of 2.4 mg, demonstrating its efficacy in obesity treatment.
- Multiple Indications: In addition to MASH, pemvidutide is also undergoing phase 2 trials for alcohol use disorder and alcohol-associated liver disease, further expanding its clinical application and enhancing Altimmune's competitive position in the market.
See More
Altimmune Reports Q4 2025 Earnings and Phase III Trial Plans
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- Improved Financial Position: As of year-end 2025, Altimmune reported total cash of $274 million, with a pro forma cash position expected to extend into 2028 following January's fundraising, thereby supporting the advancement of clinical programs.
- R&D Expense Changes: R&D expenses for Q4 2025 were $18.4 million, a decrease from $19.8 million in the same period of 2024, indicating a strategic adjustment in resource allocation by the company.
- Positive Market Response: Market research indicated that over 70% of physicians expressed a high likelihood of prescribing pemvidutide, with projected usage rates of 43% and 51% among F2 and F3 patients, respectively, suggesting strong potential acceptance and competitiveness in the market.
See More
Altimmune's Financial Status and Trial Progress
- Strong Cash Position: As of the end of February, Altimmune reported cash and cash equivalents of $340 million, which is deemed sufficient to sustain operations into 2028, ensuring stability for upcoming research and trial activities over the next few years.
- FDA Approval on Trial Design: Altimmune has agreed with the U.S. FDA on the design of the upcoming MASH trial, which is expected to evaluate multiple doses of pemvidutide, supporting potential accelerated approval, indicating the company's strategic positioning in drug development.
- Disappointing Financial Results: The company reported a net loss of $0.27 per share for Q4, which, while an improvement from $0.33 in the same period of 2024, exceeded Wall Street's estimate of $0.24, leading to a 9% drop in stock price on Thursday, reflecting market concerns over financial performance.
- Shifting Market Sentiment: Despite the stock decline, retail sentiment on Stocktwits shifted from 'bearish' to 'bullish', with message volume increasing from 'low' to 'normal', indicating investor optimism regarding potential partnerships or buyout opportunities for the company.
See More
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- Late-Stage Trial Launch: Altimmune plans to initiate a late-stage trial for metabolic dysfunction-associated steatohepatitis (MASH) in Q4 2025, aiming to evaluate multiple doses of pemvidutide over 52 weeks with biopsy-based endpoints to support potential accelerated approval.
- FDA Breakthrough Therapy Designation: Earlier this year, the company received FDA's Breakthrough Therapy Designation for pemvidutide as a treatment for MASH, which boosted Altimmune's stock price, reflecting positive market sentiment towards its R&D progress.
- Disappointing Financial Results: Despite the positive R&D news, Altimmune reported a GAAP loss per share of $0.27 in Q4, missing analysts' expectations by $0.03, with R&D expenses reaching $18.4 million, exceeding the Bloomberg consensus of $17.4 million, leading to a ~7% drop in stock price.
- Future Outlook: CEO Jerry Durso highlighted that 2026 will be a pivotal year, particularly with the upcoming initiation of the MASH Phase 3 trial, and despite current financial setbacks, the company is actively finalizing the study plan to drive product development.
See More
Altimmune (ALT) Q4 2025 Earnings Call Transcript
See More
Novo Nordisk's High-Dose Wegovy Approved by FDA
- High-Dose Approval: The FDA has approved Novo Nordisk's high-dose Wegovy at 7.2 mg, set to launch in April, aiming to regain market share against Eli Lilly's Zepbound.
- Clinical Trial Results: In a phase three trial, high-dose Wegovy led to an average weight loss of 20.7% over 72 weeks, significantly outperforming the standard dose's 15%, enhancing its competitive edge.
- Increased Patient Options: The new dosage provides more options for patients who struggle to meet weight loss targets, as noted by Novo Nordisk's U.S. medical head, potentially improving treatment satisfaction and outcomes.
- Policy Support: This approval marks the first GLP-1 treatment under the FDA's new national priority voucher plan, aimed at expediting drug review times, highlighting Novo Nordisk's strategic positioning in the industry.
See More
Truist Initiates Buy Rating on Altimmune, Highlights Pemvidutide's Potential
- Therapeutic Potential: Truist has initiated coverage of Altimmune (ALT) with a buy rating, suggesting that its lead candidate pemvidutide could become a significant treatment for metabolic dysfunction-associated steatohepatitis (MASH), indicating strong market prospects.
- Price Target: The analyst set a price target of $12, which implies approximately 251% upside based on the March 18 close, reflecting optimistic market expectations for the drug's performance.
- Clinical Trial Results: The 48-week phase 2 MOMENTUM trial released in late 2023 showed an average weight loss of 15.6% at the highest tested dose of 2.4 mg, demonstrating its efficacy in obesity treatment.
- Multiple Indications: In addition to MASH, pemvidutide is also undergoing phase 2 trials for alcohol use disorder and alcohol-associated liver disease, further expanding its clinical application and enhancing Altimmune's competitive position in the market.
See More
Altimmune Reports Q4 2025 Earnings and Phase III Trial Plans
- Clinical Trial Progress: Altimmune plans to initiate a global Phase III MASH trial in 2026, enrolling approximately 1,800 patients to primarily assess the efficacy of pemvidutide at 1.8 mg and 2.4 mg doses, aiming to address significant unmet needs in liver disease.
- Improved Financial Position: As of year-end 2025, Altimmune reported total cash of $274 million, with a pro forma cash position expected to extend into 2028 following January's fundraising, thereby supporting the advancement of clinical programs.
- R&D Expense Changes: R&D expenses for Q4 2025 were $18.4 million, a decrease from $19.8 million in the same period of 2024, indicating a strategic adjustment in resource allocation by the company.
- Positive Market Response: Market research indicated that over 70% of physicians expressed a high likelihood of prescribing pemvidutide, with projected usage rates of 43% and 51% among F2 and F3 patients, respectively, suggesting strong potential acceptance and competitiveness in the market.
See More
Altimmune's Financial Status and Trial Progress
- Strong Cash Position: As of the end of February, Altimmune reported cash and cash equivalents of $340 million, which is deemed sufficient to sustain operations into 2028, ensuring stability for upcoming research and trial activities over the next few years.
- FDA Approval on Trial Design: Altimmune has agreed with the U.S. FDA on the design of the upcoming MASH trial, which is expected to evaluate multiple doses of pemvidutide, supporting potential accelerated approval, indicating the company's strategic positioning in drug development.
- Disappointing Financial Results: The company reported a net loss of $0.27 per share for Q4, which, while an improvement from $0.33 in the same period of 2024, exceeded Wall Street's estimate of $0.24, leading to a 9% drop in stock price on Thursday, reflecting market concerns over financial performance.
- Shifting Market Sentiment: Despite the stock decline, retail sentiment on Stocktwits shifted from 'bearish' to 'bullish', with message volume increasing from 'low' to 'normal', indicating investor optimism regarding potential partnerships or buyout opportunities for the company.
See More
Altimmune Announces Late-Stage Trial Plans for Pemvidutide
- Late-Stage Trial Launch: Altimmune plans to initiate a late-stage trial for metabolic dysfunction-associated steatohepatitis (MASH) in Q4 2025, aiming to evaluate multiple doses of pemvidutide over 52 weeks with biopsy-based endpoints to support potential accelerated approval.
- FDA Breakthrough Therapy Designation: Earlier this year, the company received FDA's Breakthrough Therapy Designation for pemvidutide as a treatment for MASH, which boosted Altimmune's stock price, reflecting positive market sentiment towards its R&D progress.
- Disappointing Financial Results: Despite the positive R&D news, Altimmune reported a GAAP loss per share of $0.27 in Q4, missing analysts' expectations by $0.03, with R&D expenses reaching $18.4 million, exceeding the Bloomberg consensus of $17.4 million, leading to a ~7% drop in stock price.
- Future Outlook: CEO Jerry Durso highlighted that 2026 will be a pivotal year, particularly with the upcoming initiation of the MASH Phase 3 trial, and despite current financial setbacks, the company is actively finalizing the study plan to drive product development.
See More
Altimmune (ALT) Q4 2025 Earnings Call Transcript
See More
