Altimmune Advances Three Liver-Related Clinical Trials Simultaneously
On August 12, Altimmune (NASDAQ:ALT) announced progress across three distinct liver-related clinical programs in a single update. The company launched its global Phase 3 PERFORMA trial for MASH after receiving Breakthrough Therapy Designation from the FDA based on earlier data. In alcohol use disorder, positive results were reported from the RECLAIM Phase 2 trial, meeting primary and secondary endpoints recognized by regulators. Additionally, enrollment was completed in a Phase 2 study for alcohol-associated liver disease (RESTORE), with protocol amendments made to better assess long-term benefits. Despite these advancements, Altimmune remains without an approved product generating revenue. The company reported $519 million in cash as of June 30, bolstered by a recent fundraising round that raised $225 million. However, expenses are rising due to the simultaneous advancement of multiple trials and other operational costs like relocating its headquarters. The stock faces mixed market sentiment: hedge fund ownership has increased significantly while short interest remains high at nearly 26% of float. This divergence suggests uncertainty among investors about how much value Altimmune’s recent progress will ultimately deliver.
Tickers: $ALT
Topics: alcohol use disorder biopharmaceutical FDA designations MASH (metabolic dysfunction-associated steatohepatitis)