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ALT — Altimmune Inc.

ALT (Altimmune Inc.) stock: $1.66, $322.0M market cap, $479.9M cash, -$122.9M EV, $482.0M fully diluted market cap. Next expected readout: Sep-27. Lead program: Pemvidutide (Metabolic Dysfunction-Associated Steatohepatitis (MASH)), Phase 3. Data from Fully Diluted's biotech stocks database.

What they do

Our lead product candidate, pemvidutide (formerly known as ALT-801), is a balanced 1:1 glucagon/GLP-1 dual receptor agonist in development for the treatment of metabolic dysfunction-associated steatohepatitis (“MASH”), alcohol use disorder (“AUD”) and alcohol-associated liver disease (“ALD”).

Source: 10-K FY2025 via SEC EDGAR

Share price
$1.66
Market cap
$322.0M
Cash
$479.9M
Enterprise value
-$122.9M

Balance sheet

Cash$479.9M
Debt$35.0M
Net cash$444.9M
Enterprise value-$122.9M
Basic shares194.6M shares
Fully diluted shares290.3M shares
Fully diluted market cap$482.0M
Cash per share$2.47
Quarterly burn$24.2M
Cash runway21.4 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-13.

Share structure

Common
194.5M
Pre-funded warrants
6.1M
Options
12.0M
RSUs
2.0M
Warrants
75.0M
Converts
0.0M
Conv preferred
0.0M
ESPP reserve
0.7M
FDSO
290.3M

Cap table as of 2026-08-07.

Price history

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Next catalyst

pemvidutide · Est. Nov 11, 2027 · PCD + 6 wks · guided in 12 mo

Recently reported

Pemvidutide Phase 2 Positive · 2026-11-09
RECLAIM · alcohol use disorder
Primary: Change from baseline in the average number of heavy drinking days (HDD) per week at Week 24 in the RECLAIM Phase 2 trial of pemvidutide in moderate-to-severe alcohol use disorder (NCT06987513) — HDD per week decreased by 4.20 days with pemvidutide vs 2.75 days with placebo (treatment difference: -1.45 days; p=0.0014)
· 42.2% achieved zero HDDs vs 17.4% with placebo (OR=3.8; p=0.0066)
· 64.4% achieved a 2-level reduction in WHO Risk Drinking Level vs 34.8% with placebo (OR=3.3; p=0.0049)
· PEth decreased by 153.4 ng/mL compared with an increase of 22.0 ng/mL with placebo (difference: -175.4 ng/mL; p<0.0001)
· Percentage of abstinent days increased to 38.9% vs 20.5% with placebo (p=0.0075)
· Mean weight loss -8.7% vs +0.4% with placebo (treatment difference: -9.1%; p<0.0001); among participants with baseline FIB-4 at or above 1.3, 50% achieved normalization to below 1.3 vs 17% on placebo
· IMPACT Phase 2b 48-week analyses in MASH showed concurrent reductions vs placebo in liver stiffness and ELF score, liver fat and ALT (no numeric results disclosed in the release); FDA End-of-Phase 2 meeting scheduled in December 2026 on the Phase 3 AUD program
Safety: Generally well tolerated, adverse events primarily mild to moderate; nausea 44% vs 24% with placebo, vomiting 18% vs 6%, diarrhea 20% vs 10%, constipation 26% vs 6%; treatment discontinuation rates 20% vs 22%
Source release →
Pemvidutide Phase 2 Positive · 2026-07-28
alcohol-associated liver disease
Source release →
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