Altimmune

Altimmune develops medicines for obesity and liver diseases. Its main drug candidates aim to help people with serious metabolic and liver conditions. The company’s treatments target patients who need new options for weight and liver health.

What’s Cooking in the Lab?

• Pemvidutide (GLP-1/glucagon dual agonist): Main drug in clinical trials for obesity, metabolic liver disease, and alcohol-related liver disease. 0% of revenue, as no product sales yet.
• HepTcell: Immunotherapy for chronic hepatitis B, program ended in March 2024. 0% of revenue.
• Clinical Trial Services: Revenue from grants and contracts supporting research, not from product sales. 100% of revenue.

Growth Spurts and Strategic Moves

• Expanded pemvidutide trials to include alcohol use disorder and alcohol-related liver disease in 2024-2025.
• Completed key Phase 2b trial and completed enrollment for the main drug candidate's Phase 2 clinical trial in 2025.
• Secured FDA Breakthrough Therapy and Fast Track designations for pemvidutide in 2024-2025.
• Raised $173.7 million through at-the-market equity offerings in 2025.
• Ended HepTcell hepatitis B program in March 2024 to focus on core pipeline.

Why Altimmune Stands Out (Without the Lab Coat)

Altimmune’s main drug uses a unique approach, targeting two key metabolic pathways at once. The company leverages artificial intelligence to improve clinical trial accuracy. Its patent portfolio protects its technology into the 2040s, supporting long-term research focus.

Five Things You Need to Know

• Revenue was $26,000 in Q4 2025, up 420% from Q4 2024.
• Net loss was $88.1 million in 2025, improved from $95.1 million in 2024.
• Cash used in operations was $67.5 million in 2025, down from $79.8 million in 2024.
• Cash and investments totaled $273.5 million as of December 31, 2025.

Bottom Line

Altimmune focuses on developing new treatments for obesity and liver disease. The company remains in the research stage, with no commercial products yet.