Altimmune Q2 2026: $519M Cash and Phase 3 MASH Trial Launch
ALT sits 18% above its 52-week low of $2.56.
Summary
Altimmune's Q2 2026 update featured $519 million in cash and the launch of the Phase 3 PERFORMA trial for pemvidutide in MASH. Enrollment also finished in the Phase 2 RESTORE trial for alcohol-associated liver disease, and the company reaffirmed positive Phase 2 data in alcohol use disorder.
Key Events · Earnings and Guidance · ALT
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Strong Cash Position
Cash, cash equivalents, and investments reached $519 million as of June 30, 2026, securing a multi-year runway.
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Phase 3 MASH Trial Initiated
The global PERFORMA Phase 3 trial of pemvidutide in MASH kicked off in August 2026, with 52-week data anticipated in 2029.
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Phase 2 ALD Trial Fully Enrolled
Enrollment is complete in the RESTORE Phase 2 trial for alcohol-associated liver disease; topline results are expected in the second half of 2027.
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Positive Phase 2 AUD Data
Previously announced positive topline results from the RECLAIM trial in alcohol use disorder were reiterated, and plans are in place for an end-of-Phase 2 meeting with the FDA.
Analysis · ALT · Life Sciences
A cash balance of $519 million gives Altimmune a runway that extends well into the future, a critical advantage for a late-stage biotech. The pivotal PERFORMA Phase 3 trial in MASH is now underway, and enrollment has wrapped up in the RESTORE Phase 2 ALD study—both milestones that underscore the pipeline's momentum. The quarterly net loss of $22.8 million aligns with expectations for a company at this stage. With the stock at $3.01 and 194.5 million shares outstanding, the market cap sits near $583 million, meaning the cash alone covers almost 90% of that valuation and provides a substantial cushion.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.6% of the 1609 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ALT was trading at $3.01 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $583.4M. The 52-week trading range was $2.56 to $6.44. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.