Altimmune, Inc. has reported its financial results for the first quarter ended March 31, 2025, and provided a business update. The company reported cash, cash equivalents, and short-term investments totaling $150 million as of March 31, 2025. Research and development expenses were $15.8 million for the three months ended March 31, 2025, compared to $21.5 million in the same period in 2024, with the decrease resulting from the timing of clinical trial costs. The expenses for the quarter ended March 31, 2025, included $9.2 million in direct costs related to pemvidutide development activities. General and administrative expenses were $6.0 million for the three months ended March 31, 2025, compared to $5.3 million in the same period in 2024. Interest income was $1.5 million for the three months ended March 31, 2025, compared to $2.4 million for the same period in 2024. The net loss for the three months ended March 31, 2025, was $19.6 million, or $0.26 net loss per share, compared to a net loss of $24.4 million, or $0.34 net loss per share, in the same period in 2024.
The company also announced a $100 million credit facility with Hercules Capital, adding balance sheet strength and financial flexibility to support the continued development of pemvidutide. Altimmune unveiled two additional indications for pemvidutide in alcohol use disorder (AUD) and alcohol liver disease (ALD) and announced the intent to initiate phase 2 clinical trials in these indications in the second and third quarters of 2025, respectively. Moreover, top-line data from the impact phase 2b trial of pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH) is expected in the second quarter of 2025. Altimmune believes that achieving statistical significance on MASH resolution and fibrosis improvement at only 24 weeks, coupled with clinically meaningful weight loss, would position pemvidutide as the best-in-class therapeutic candidate for the treatment of MASH.
Altimmune's CEO, Vipin K. Garg, Ph.D., stated, "The first quarter of 2025 was productive for Altimmune as the company approaches a number of important milestones. We remain committed to developing pemvidutide for the treatment of liver and cardiometabolic diseases that leverage its differentiated clinical profile."
Altimmune's webcast to discuss these results and business updates will be held on May 13, 2025, at 8:30 a.m. ET. The market has reacted to these announcements by moving the company's shares 7.51% to a price of $6.01. For the full picture, make sure to review Altimmune's 8-K report.
