Altimmune Announces Third Quarter 2024 Financial Results and Provides a Business Update

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Altimmune, Inc
Altimmune, Inc

Enrollment completed in Phase 2b IMPACT trial of pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH); top-line efficacy data expected in Q2 2025

Successful completion of the obesity End-of-Phase 2 meeting with the FDA

Company plans to submit Investigational New Drug (IND) applications for pemvidutide in up to three additional indications beginning Q4 2024

Cash, cash equivalents and short-term investments of $139.4 million on September 30, 2024

Webcast to be held today, November 12, 2024, at 8:30 a.m. ET

GAITHERSBURG, Md., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced financial results for the third quarter ended September 30, 2024, and provided a business update.

“In the third quarter, we reached several important milestones, most notably the completion of enrollment in the Phase 2b IMPACT trial of pemvidutide in MASH, positioning us to report top-line efficacy data in the second quarter of 2025,” said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. “Further, we successfully completed our End-of-Phase 2 meeting with the FDA for the pemvidutide Phase 3 obesity program, gaining agreement on the design of the pivotal studies as well as the measures of efficacy and safety.”

Dr. Garg continued, “The Phase 3 program is designed to leverage the key attributes of pemvidutide, including the effects of balanced GLP-1/glucagon dual agonism in subjects with overweight and obesity. The program will include four pivotal trials with a primary efficacy endpoint of weight loss and will evaluate the effects of pemvidutide on principal co-morbidities of obesity, including elevated serum lipids and excess liver fat. The program will also assess the preservation of lean mass and its impact on subjects at risk for loss of physical function and other complications of sarcopenia.”

“At the 60th Annual Meeting of the European Association for the Study of Diabetes, we presented compelling data from our Phase 2 MOMENTUM trial of pemvidutide in obesity, which highlighted its class-leading preservation of lean mass and preferential reduction in visceral adipose tissue, both of which are important differentiators for pemvidutide,” said Scott Harris, M.D., Chief Medical Officer of Altimmune. “We also remain on-track to submit an IND application this quarter for the first of up to three additional indications for pemvidutide, with the trial expected to initiate in the first half of 2025.”

Dr. Garg concluded, “The data we have generated to date, coupled with the multiple key inflection points on the horizon, give us confidence that 2025 will be a transformational year for pemvidutide, and for Altimmune.”

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