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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Altimmune Inc | NASDAQ:ALT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.02 | -0.28% | 7.05 | 7.04 | 7.19 | 7.35 | 6.81 | 7.18 | 2,680,810 | 01:00:00 |
“With AdCOVID™, our single-dose intranasal vaccine candidate for COVID-19 and ALT-801, our GLP-1/glucagon dual agonist candidate for non-alcoholic steatohepatitis (NASH) now advancing in the clinic, 2021 has the potential to be a data-rich period for the Company,” remarked Vipin K. Garg, Ph.D., President and Chief Executive Officer at Altimmune. “We anticipate data readouts from both of these clinical trials in June. If the data from the AdCOVID Phase 1 trial are positive, we plan to quickly transition into a comprehensive global Phase 2 clinical development program. We strongly believe that a vaccine candidate like AdCOVID, which can be administered via a simple nasal spray along with what we hope will be an excellent safety and tolerability profile, could become an important tool for the global COVID-19 vaccination effort.”
Dr. Garg continued, “ALT-801 is also progressing as planned through its first-in-human clinical trial in Australia and we anticipate 6-week data to be available later this quarter. We are excited about the potential of ALT-801, and hope that clinical studies will show ALT-801 can deliver similar therapeutic benefits to current GLP-1 based treatment options in development but without the GI intolerability that leads to treatment discontinuation. The NASH opportunity, together with a potential indication in obesity, could be very large for ALT-801 and early clinical success could have a dramatic effect on Altimmune’s growth.”
Recent Highlights:
AdCOVID, a novel, needle-free, intranasal vaccine candidate for COVID-19
In these preclinical studies, a single intranasal dose of AdCOVID provided:
ALT-801, a novel GLP-1/glucagon dual agonist candidate for NASH
Other programs
Financial Results for the Three Months Ended March 31, 2021
Conference Call Information | |
Date: | Monday, May 17, 2021 |
Time: | 8:30 am Eastern Time |
Domestic Dial-in | 877-423-9813 |
International Dial-in: | 201-689-8573 |
Conference ID: | 13719206 |
Webcast: | http://public.viavid.com/index.php?id=144634 |
Following the conclusion of the call, the webcast will be available for replay on the Investor Relations page of the Company’s website at www.altimmune.com. The company has used, and intends to continue to use, the IR portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD.
About Altimmune
Altimmune is a clinical stage biopharmaceutical company focused on developing intranasal vaccines, immune modulating therapies and treatments for liver disease. Our diverse pipeline includes proprietary intranasal vaccines for COVID-19 (AdCOVID™), anthrax (NasoShield™) and influenza (NasoVAX™); an intranasal immune modulating therapeutic for COVID-19 (T-COVID™); and next generation peptide therapeutics for NASH (ALT-801) and chronic hepatitis B (HepTcell™). For more information on Altimmune, please visit www.altimmune.com.
Follow @Altimmune, Inc. on LinkedInFollow @AltimmuneInc on Twitter
Forward-Looking Statement
Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the timing of key milestones for our clinical assets, the timing of the data readout from the AdCOVID Phase 1 clinical trial in June 2021, the potential start of the AdCOVID Phase 2 clinical program in Q2 2021, the potential immunization effects of AdCOVID, the potential of AdCOVID to block SARS-CoV-2 transmission, the shipping and storage requirements for AdCOVID, our ability to manufacture AdCOVID for our clinical trials and commercial needs, the expected completion of the single ascending dose (SAD) and multiple ascending dose (MAD) phases of the ALT-801 study, with 6-week data expected in June 2021 and 12-week data in Q3 2021, the anticipated mid-year IND filing for ALT-801, the commencement of a 52-week, Phase 2, biopsy-trial based on NASH endpoints in early 2022, the HepTcell Phase 2 clinical efficacy trial data readout anticipated in 1H 2022, the prospects for regulatory approval of our product candidates and commercializing or selling any product or drug candidates, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict” and similar expressions and their variants, as they relate to Altimmune, Inc. (the “Company”) may identify forward-looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward looking statements or historical experience include risks and uncertainties, including risks relating to: potential impacts due to the COVID-19 pandemic such as delays in regulatory review, manufacturing and supply chain interruptions, access to clinical sites, enrollment, adverse effects on healthcare systems and disruption of the global economy; the reliability of the results of studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates; the Company’s ability to manufacture clinical trial materials and commercial supply on the timelines anticipated; the Company’s ability to secure manufacturing approval from its SARS-CoV-2 cell licensor on the timelines anticipated; and the success of future product advancements, including the success of future clinical trials. Further information on the factors and risks that could affect the Company's business, financial conditions and results of operations are contained in the Company’s filings with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC, which is available at www.sec.gov.
Investor & Media Contacts:
Will Brown Chief Financial Officer Phone: 240-654-1450 wbrown@altimmune.com
Stacey JurchisonSr. Dir, Investor RelationsPhone : 410-474-8200sjurchison@altimmune.com
ALTIMMUNE, INC.CONSOLIDATED BALANCE SHEETS
March 31, 2021 | December 31, 2020 | |||||||
(unaudited) | ||||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 149,932,387 | $ | 115,917,807 | ||||
Restricted cash | 34,174 | 34,174 | ||||||
Total cash, cash equivalents and restricted cash | 149,966,561 | 115,951,981 | ||||||
Short-term investments | 76,574,768 | 100,005,558 | ||||||
Accounts receivable | 4,801,428 | 4,610,202 | ||||||
Tax refund receivable | 7,898,067 | 7,762,793 | ||||||
Prepaid expenses and other current assets | 5,950,999 | 1,926,675 | ||||||
Total current assets | 245,191,823 | 230,257,209 | ||||||
Property and equipment, net | 5,198,052 | 1,056,920 | ||||||
Right of use asset | 866,336 | 903,825 | ||||||
Intangible assets, net | 12,879,247 | 12,823,846 | ||||||
Other assets | 115,300 | 73,413 | ||||||
Total assets | $ | 264,250,758 | $ | 245,115,213 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 418,243 | $ | 612,293 | ||||
Accrued expenses and other current liabilities | 9,405,649 | 11,408,154 | ||||||
Total current liabilities | 9,823,892 | 12,020,447 | ||||||
Contingent consideration | 6,270,000 | 5,390,000 | ||||||
Other long-term liabilities | 1,719,438 | 1,828,443 | ||||||
Total liabilities | 17,813,330 | 19,238,890 | ||||||
Commitments and contingencies (Note 16) | ||||||||
Stockholders’ equity: | ||||||||
Common stock, $0.0001 par value; 200,000,000 shares authorized;38,257,180 and 37,142,946 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively | 3,810 | 3,697 | ||||||
Additional paid-in capital | 462,417,706 | 417,337,742 | ||||||
Accumulated deficit | (210,944,707 | ) | (186,420,599 | ) | ||||
Accumulated other comprehensive loss, net | (5,039,381 | ) | (5,044,517 | ) | ||||
Total stockholders’ equity | 246,437,428 | 225,876,323 | ||||||
Total liabilities and stockholders’ equity | $ | 264,250,758 | $ | 245,115,213 |
ALTIMMUNE, INC.CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Three Months EndedMarch 31, | ||||||||
2021 | 2020 | |||||||
Revenues | $ | 837,516 | $ | 2,212,694 | ||||
Operating expenses: | ||||||||
Research and development | 11,877,900 | 7,187,531 | ||||||
General and administrative | 3,821,420 | 2,331,917 | ||||||
Total operating expenses | 15,699,320 | 9,519,448 | ||||||
Loss from operations | (14,861,804 | ) | (7,306,754 | ) | ||||
Other income (expense): | ||||||||
Interest expense | (11,671 | ) | (1,885 | ) | ||||
Interest income | 42,499 | 151,569 | ||||||
Other (expense) income, net | (33,132 | ) | 25,542 | |||||
Total other (expense) income, net | (2,304 | ) | 175,226 | |||||
Net loss before income tax benefit | (14,864,108 | ) | (7,131,528 | ) | ||||
Income tax benefit | — | 3,245,879 | ||||||
Net loss | (14,864,108 | ) | (3,885,649 | ) | ||||
Other comprehensive income (loss) – unrealized gain (loss) on investments | 5,136 | (32,435 | ) | |||||
Comprehensive loss | $ | (14,858,972 | ) | $ | (3,918,084 | ) | ||
Net loss per share, basic and diluted | $ | (0.38 | ) | $ | (0.26 | ) | ||
Weighted-average common shares outstanding, basic and diluted | 38,914,990 | 15,110,585 |
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