Altimmune Reports Q1 2025 Financial Results with Reduced Net Loss and Increased Assets

Altimmune, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $19.6 million, a decrease from a net loss of $24.4 million in the same period of 2024. The company’s revenues remained unchanged at $5,000, as it has not yet generated revenue from product sales. Total operating expenses decreased by 19% to $21.8 million, down from $26.8 million in the prior year, primarily due to a significant reduction in research and development costs, which fell by 26% to $15.8 million. This decline was attributed to decreased spending on clinical trials and manufacturing activities.

In terms of financial position, Altimmune's total assets increased to $157.3 million as of March 31, 2025, compared to $139.3 million at the end of 2024. The increase was driven by a rise in cash and cash equivalents, which grew to $49.1 million from $36.9 million, alongside an increase in short-term investments, which rose to $100.7 million from $95.0 million. The company’s stockholders’ equity also improved, reaching $142.2 million, up from $123.5 million at the end of the previous fiscal year.

Strategically, Altimmune is advancing its lead product candidate, pemvidutide, which is being developed for multiple indications, including metabolic dysfunction-associated steatohepatitis (MASH), obesity, Alcohol Use Disorder (AUD), and Alcohol-Associated Liver Disease (ALD). The company announced plans to initiate Phase 2 clinical trials for AUD and ALD in the second and third quarters of 2025, respectively. This expansion of clinical indications reflects Altimmune's commitment to leveraging pemvidutide's clinical profile to address significant unmet medical needs.

Operationally, Altimmune's employee headcount has increased, reflecting its ongoing recruitment efforts to support its clinical programs. The company has also engaged in at-the-market offerings, raising approximately $34.7 million in net proceeds during the first quarter of 2025. This funding is crucial as Altimmune continues to rely on equity financing to support its research and development activities, given its lack of product revenue. The company has indicated that it expects its current cash and investments will be sufficient to fund operations for at least the next twelve months.

Looking ahead, Altimmune remains focused on advancing its clinical programs while managing its cash resources prudently. The company is actively pursuing additional financing options to support its long-term capital needs, including potential partnerships or sales of its existing programs. As it navigates the challenges of the biopharmaceutical landscape, Altimmune's strategic initiatives and financial management will be critical in achieving its operational goals and advancing its product pipeline.