Altimmune Q2 Loss Beats Estimates; FDA Meeting Planned for AUD Program
ALT sits 20% above its 52-week low of $2.56.
Summary
Altimmune reported a Q2 net loss of $0.12 per share, beating the consensus estimate of $0.14. The company had no revenue, with higher R&D and G&A costs driven by ongoing trials. Cash position remains strong at $519 million following recent raises. The company plans to request an End-of-Phase 2 meeting with the FDA for its alcohol use disorder program, a key regulatory step. This follows positive Phase 2 RECLAIM data in July and the launch of the Phase 3 PERFORMA trial in MASH.
At the time of this announcement, ALT was trading at $3.06 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 news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.