Altimmune Q2 2026: $519M Cash, Phase 3 PERFORMA Launch, and $45.4M Net Loss
ALT sits 16% above its 52-week low of $2.56.
Summary
Altimmune reported a Q2 net loss of $22.8 million ($0.12/share), beating estimates, with $519 million in cash and investments. The company launched its Phase 3 PERFORMA trial for pemvidutide in MASH and detailed recent financings and headquarters relocation.
Key Events · Earnings and Guidance · ALT
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Q2 Net Loss Beats Estimates
Net loss of $22.8 million ($0.12/share) for Q2 2026, beating consensus of $0.14. Six-month net loss was $45.4 million.
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Cash Position of $519 Million
Cash, cash equivalents, restricted cash, and short-term investments totaled $326.3 million as of June 30, 2026, with an additional $192.3 million in long-term investments. Management states this is sufficient for at least twelve months.
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Phase 3 PERFORMA Trial Launched
Enrollment began in the global Phase 3 PERFORMA trial for pemvidutide in MASH. The 52-week data readout to support accelerated approval is anticipated in 2029.
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Headquarters Relocation and Impairment
Company announced relocation from Gaithersburg, MD to Morristown, NJ, incurring $1.5 million in impairment charges on lease assets. New 5-year lease has annual rent of $0.3 million.
Analysis · ALT · Life Sciences
Altimmune's Q2 2026 10-Q confirms a net loss of $45.4 million for the first half of 2026, but the company holds $519 million in cash and investments, providing runway for at least twelve months. The filing details the launch of the Phase 3 PERFORMA trial for pemvidutide in MASH, with a 52-week data readout expected in 2029. It also discloses $1.5 million in impairment charges from the headquarters relocation to Morristown, NJ, and a new 5-year lease. The company raised $281.4 million in net proceeds from equity offerings during the first half, including a $211.1 million April offering with warrants that could bring an additional $225 million if exercised.
At the time of this filing, ALT was trading at $2.96 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $569.8M. The 52-week trading range was $2.56 to $6.44. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.