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Altimmune, Inc. develops pemvidutide, a late clinical-stage dual-action therapy targeting glucagon and GLP-1 receptors for serious liver diseases. Company news centers on pemvidutide development in metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD) and alcohol-associated liver disease (ALD), including clinical trial updates and FDA designations such as Fast Track and Breakthrough Therapy Designation where granted.
Altimmune updates also cover financial results, business updates, investor conference participation and capital actions used to fund development activity. Recurring financing news includes public offerings, registered direct offerings, common stock, pre-funded warrants and common stock warrants.
Altimmune, Inc. (Nasdaq: ALT) has received FDA clearance for its Investigational New Drug (IND) application to proceed with a Phase 2 trial of HepTcell, an immunotherapeutic aimed at treating chronic hepatitis B. The company is also filing trial applications in multiple countries, including Canada and the UK. Scheduled for Q4 initiation, this trial includes 80 adult subjects and focuses on breaking immune tolerance to achieve a functional cure for HBV. HepTcell shows potential as a key component in future anti-HBV treatment regimens.
Altimmune received FDA clearance for its IND application to begin a Phase 1/2 trial of T-COVID, targeting early SARS-CoV-2 infections. The trial, enrolling around 100 patients, aims to assess the drug's efficacy in preventing disease progression in non-hospitalized patients diagnosed within 48 hours. Scheduled to start in June 2020, results are expected by Q4 2020. T-COVID leverages the company's RD-Ad5 adenoviral vector technology, and offers a novel approach by being administered intranasally, potentially avoiding hospitalization and requiring no refrigeration for distribution.
Altimmune, Inc. (Nasdaq: ALT) reported financial results for Q1 2020, highlighting revenue of $2.2 million down from $3 million year-over-year due to reduced contract billings. R&D expenses surged to $7.2 million compared to $3.2 million in the prior year, driven by IND-enabling studies. The net loss was $3.9 million or ($0.26) per share. Notably, the company commenced preclinical testing of COVID-19 vaccine AdCOVID and plans to launch clinical trials for NasoShield and ALT-801 later in the year, aiming for a data-rich 2020.
Altimmune, a clinical-stage biopharmaceutical company, announced the appointment of Diane Jorkasky, M.D. to its Board of Directors, expanding the board to eight members. Dr. Jorkasky brings extensive experience in drug development across various therapeutic areas. CEO Vipin K. Garg expressed excitement over her contributions to Altimmune's ongoing liver disease and vaccine programs. Dr. Jorkasky emphasized the company's potential impact on public health. Her background includes leadership roles in major pharmaceutical firms, underscoring the breadth of knowledge she brings to the team.