ALT

It has been about a month since the last earnings report for Altimmune, Inc. (ALT). Shares have added about 14.2% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Altimmune due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Altimmune’s Q2 Loss Narrower Than Expected, Revenues Nil Altimmune incurred a second-quarter 2026 loss of 12 cents per share, narrower than the Zacks Consensus Estimate of a loss of 15 cents. The company had recorded a loss of 27 cents per share in the year-ago quarter.The company did not generate any revenues in the quarter, as it does not have a marketed drug in its portfolio. ALT's Q2 Results in Detail Research and development (R&D) expenses totaled $18.7 million in the reported quarter, up 8.2% year over year, primarily due to ongoing clinical studies and startup costs associated with the late-stage metabolic dysfunction-associated steatohepatitis (MASH) study onpemvidutide. R&D spending included $11.6 million in direct pemvidutide development costs.General and administrative expenses were $7.6 million, up 33.1% year over year, primarily driven by an increase in professional services and compensation expenses.As of June 30, 2026, Altimmune had cash, cash equivalents and short-term investments of $519 million compared with $332 million as of March 31, 2026. Management expects its cash runway to support operations into 2029. In the past month, investors have witnessed a upward trend in estimates review. The consensus estimate has shifted 11.29% due to these changes. Currently, Altimmune has a poor Growth Score of F, however its Momentum Score is doing a lot better with a C. However, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for value investors. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Altimmune has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Altimmune belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, United Therapeutics (UTHR), has gained 0.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. United Therapeutics reported revenues of $783.3 million in the last reported quarter, representing a year-over-year change of -1.9%. EPS of $7.27 for the same period compares with $6.41 a year ago. For the current quarter, United Therapeutics is expected to post earnings of $6.47 per share, indicating a change of -9.6% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days. United Therapeutics has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Altimmune, Inc. (ALT) : Free Stock Analysis Report United Therapeutics Corporation (UTHR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. R&D Expense: $18.7 million in Q2 2026, compared to $17.2 million in the same period of 2025. G&A Expense: $7.6 million in Q2 2026, compared to $5.7 million in the prior-year quarter. Net Loss: $22.8 million, or $0.12 per share, in Q2 2026, compared to a net loss of $22.1 million, or $0.27 per share, in Q2 2025. Cash Position: Total cash of $519 million as of June 30, 2026. Capital Raised: Approximately $310 million raised year-to-date, including a $225 million follow-on offering in April. Warning! GuruFocus has detected 2 Warning Signs with ALT. Is ALT fairly valued? Test your thesis with our free DCF calculator. Release Date: August 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Initiated the global PERFORMA Phase 3 trial for MASH, with rapid site activation and strong engagement from the medical community. Reported positive top-line data from the RECLAIM Phase 2 trial in AUD, meeting primary and key secondary endpoints, including FDA-recognized registrational endpoints. Demonstrated potential liver benefits in AUD patients, with 50% of pemvidutide-treated patients showing improvement in FIB-4 index versus 17% for placebo. Completed patient enrollment in the RESTORE trial for ALD, with a protocol amendment to assess liver stiffness at both 48 and 24 weeks, strengthening the liver benefit assessment. Strong financial position with $519 million in cash, providing runway through the MASH Phase 3 52-week readout in 2029. AUD market presents significant unmet need with no new drug approvals in 20 years, and pemvidutide's dual mechanism could disrupt the market. Potential for non-dilutive funding for a Phase 3 AUD trial, including royalty, debt, or strategic partnerships. Phase 3 AUD trial is not yet funded, and the company plans to use non-dilutive means, which may not be guaranteed. Competitive landscape for MASH trials is intense, with multiple ongoing Phase 3 programs, potentially impacting patient enrollment. Discontinuation rates in the RECLAIM trial were similar between active and placebo arms, with GI-related AEs in the active arm, indicating tolerability concerns. The RESTORE trial's primary endpoint change to a hierarchical analysis may complicate regulatory interpretation and delay clear results. The company has not yet provided specific timing for the Phase 3 AUD trial, pending FDA feedback, which could delay progress. The AUD market has low diagnosis and treatment rates, which may require significant educational efforts to drive adoption. The company's cash runway does not include the AUD Phase 3 trial, and financing options are not yet secured. Q: For AUD, is conducting one global pivotal trial still the base case now that you're incorporating both FDA and EU requirements? A: Christophe Arbet-Engels, Chief Medical Officer, confirmed that based on recent FDA guidance, one trial should be sufficient. The guidance emphasizes the weight of evidence and quality of biomarkers, with PEth becoming more important. The company plans to leverage its additional experience with pemvidutide in other populations for the safety database, supporting a single pivotal Phase 3 trial in AUD, potentially including ALD patients, with synergies across programs. Q: On the PERFORMA Phase 3 study, appreciate the comments on the regional targeting for the trial sites. I just wanted to ask about your sense of the competitive landscape for MASH trials since there are a number of competing Phase 3 programs at various stages of enrollment, and I was hoping you could provide a bit more detail on how you're targeting study sites with respect to competing programs. How much overlap is there with some of these ongoing pivotal programs, and maybe if you could talk about your expectations on patient enrollment relative to some of the other Phase 3 programs, or semaglutide, or survodutide? A: Jerome Durso, CEO, noted the company is encouraged by the speed of initiation. Christophe Arbet-Engels, CMO, added that the trial will span ~290-300 sites globally. They are leveraging the AIM-MASH design to reduce screen failures and their existing site relationships. Enrollment is expected to take 18-24 months, with the company aiming for the lower end of that range due to the study's attractive features for investigators. Q: Do you plan to share any subgroup analyses from the RECLAIM AUD trial? And are there any patient segments where efficacy appears particularly compelling? And second, could you share any additional detail on how you're thinking about Phase 3 timing, trial design, and funding? A: Christophe Arbet-Engels, CMO, confirmed they will continue to analyze data and present at future medical conferences. For Phase 3, they plan to establish the liver benefits given the AUD-ALD overlap, broaden the population to include patients with BMI under 25, and likely have a 24-week primary efficacy endpoint with additional analysis out to 52 weeks. Jerome Durso, CEO, added they are not yet guiding on timing but will work quickly to compile the full data package for an end of Phase 2 meeting with the FDA. Q: I'm curious about the follow-up from the AUD study. So I think it's pretty well known that with the weight loss drugs, there's rebound when patients stop taking the injections and there's persistence problems. And so when you think about AUD, has there been any follow-up study on these patients to see how they behave after they stop treatment? Is there a rebound in their heavy drinking? And is there any work being done in trying to maintain a persistence of treatment on this drug? A: Linda Richardson, Chief Commercial Officer, noted that competitive therapies often suffer from patients being unable to tolerate them, leading to discontinuation. She highlighted pemvidutide's favorable tolerability profile as a potential advantage. Christophe Arbet-Engels, CMO, added that the RECLAIM study was not designed to formally assess rebound, but they will examine follow-up data. He emphasized that FDA guidance recognizes AUD as a chronic disease, and pemvidutide's safety and tolerability profile supports long-term chronic use, which will be further evaluated in Phase 3. Q: Starting the Phase 3 programs and AUD especially considering it's not fully funded while leveraging the ongoing Phase 3 MASH trial. When would you kind of decide to allocate additional funds and what would you need to see to do that? A: Gregory Weaver, CFO, explained that the next steps involve feedback from the FDA at the end of Phase 2 meeting, which will allow them to design and cost the Phase 3 AUD trial. They anticipate it will be significantly less costly than the MASH Phase 3. Financing is expected in the new year, with a preference for non-dilutive funding options such as strategic partnerships, debt, or royalties. He reiterated the strong balance sheet with $519 million in cash, providing runway through the MASH Phase 3 readout in 2029. Q: Just a few follow-up questions on PERFORMA and MASH. I was wondering first if there was a read-through or learnings from the Phase 2 RECLAIM trial and AUD around the 2.4 milligram discontinuations and how that might change titration monitoring or dose reduction plan for the 2.4 milligram arm in PERFORMA. And then as well in PERFORMA, I'm wondering if you're going to be allowing background GLP-1 therapy, resmetirom, or other directed therapies, and how you could manage patients who want to initiate or resume those therapies during the 52-week biopsy period. A: Christophe Arbet-Engels, CMO, stated that learnings from the AUD trial support a simple, favorable titration schedule for the 2.4 mg dose in PERFORMA. Regarding background therapies, GLP-1s will be allowed only at anti-diabetic doses, while resmetirom will be excluded to avoid jeopardizing the primary endpoint. The trial will collect history on patients who have failed prior therapies like GLP-1s or resmetirom to characterize the population. Q: Just looking back over the past year and sort of the changes in some of the ALD inclusion requirements, it looks like you've increased your liver stiffness that you're allowing into the trial from about 18.5 up to about 25. I was wondering if you could speak to sort of how you expect that or why, you know, that change may have been occurring, you know, possibly being able to provide any details on how the inclusion of severe, less severe population, and if that led into anything to do with the change in hierarchy for your primary endpoint. A: Christophe Arbet-Engels, CMO, clarified that the change in liver stiffness inclusion criteria is unrelated to the hierarchical primary endpoint change. The criteria expansion was based on learnings from a hepatic impairment study that showed no risk in the broader population. The hierarchical procedure at week 48 is specifically designed to strengthen understanding of pemvidutide's liver benefits and support regulatory discussions. Q: Maybe one more on the RESTORE study and about liver stiffness. So the upper end of that range, 10 to 25. The upper range is suggestive of a cirrhotic features for these patients. I'm curious, if the data is supportive in that segment, and how would you use that data, potential read-throughs For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Altimmune, Inc.? Here are five stocks we like better. Altimmune has begun enrolling its global Phase III PERFORMA trial of pemvidutide for MASH, with about 300 sites planned and 52-week data expected in 2029. The company is using AI-assisted pathology and expects its current cash to fund the program through that readout. Phase II results for pemvidutide in alcohol use disorder showed fewer heavy drinking days, more patients reaching lower-risk or zero heavy-drinking levels, and a 9.1% placebo-adjusted weight reduction. Altimmune is preparing for an FDA end-of-Phase-II meeting and may pursue a single global Phase III trial. Altimmune completed enrollment in its Phase II RESTORE trial for alcohol-associated liver disease, with topline results expected in the second half of 2027. The company reported a $22.8 million second-quarter net loss and $519 million in cash as of June 30, but would need additional or non-dilutive financing for a potential AUD Phase III program. MarketBeat Week in Review – 11/4 - 11/8 Altimmune (NASDAQ:ALT) said it has initiated patient enrollment in its global Phase III PERFORMA trial of pemvidutide for metabolic dysfunction-associated steatohepatitis, or MASH, while advancing plans for later-stage development in alcohol use disorder, or AUD. Chairman and Chief Executive Officer Jerome Durso said 2026 has marked significant progress as the company focuses on serious liver diseases. The company began enrolling patients in PERFORMA about three months after securing funding intended to support the program through its 52-week data readout. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat How Altimmune Could Grab a Big Chunk of the GLP-1 Market Chief Medical Officer Dr. Christophe Arbet-Engels said PERFORMA will be conducted at roughly 300 sites, with approximately one-third in the U.S. and two-thirds outside the U.S. Altimmune is targeting enrollment at the lower end of an estimated 18- to 24-month range for studies of this type. The company said it has sought to reduce screening failures and pathology variability through the trial design, including use of AIM-MASH AI-assisted pathology. Under the process described on the call, digitized biopsy slides will be assessed by the AI system, which will identify features and propose scores for pathologists to review. Pathologists will remain responsible for final scoring under a consensus-reading process. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be This Small Cap Wealth Management Stock Could Provide Big Returns Altimmune said patients using GLP-1 therapies at antidiabetic doses may be included in PERFORMA. However, patients using Rezdiffra will not be included because the company does not want to compromise the trial’s 52-week biopsy endpoint. The company also plans to characterize patients who previously did not respond to or could not tolerate GLP-1 therapies or Rezdiffra. The company expects the PERFORMA 52-week data readout in 2029. → First Solar’s Profit Engine Faces a New Policy Test in Washington Altimmune in July reported positive topline results from the Phase II RECLAIM trial in AUD. Arbet-Engels said the 2.4-milligram dose of pemvidutide met the primary endpoint by reducing heavy drinking days by 1.45 per week versus placebo at week 24. The trial also met secondary endpoints that the company said are recognized by the FDA as potential registrational measures. Roughly two-thirds of pemvidutide-treated patients achieved a two-level reduction in World Health Organization risk drinking levels, compared with about one-third of placebo patients. More than twice as many pemvidutide patients achieved zero heavy drinking days versus placebo, according to the company. Altimmune also reported statistically significant changes in abstinent drinking days, phosphatidylethanol, or PEth, levels, and body weight. The company said pemvidutide patients had a 9.1% reduction in body weight from baseline versus placebo. In an exploratory analysis among patients with a baseline FIB-4 score above 1.3, Altimmune said 50% of pemvidutide-treated patients moved below that threshold after 24 weeks, compared with 17% of placebo patients. FIB-4 is a biomarker associated with risk of liver fibrosis. The company plans to prepare a data package for an end-of-Phase-II meeting with the FDA and also expects to engage European regulators. Arbet-Engels said the company currently expects one global pivotal AUD trial could be sufficient, subject to regulatory discussions. A potential Phase III AUD program would focus on moderate-to-severe AUD, could include patients with a body mass index below 25, and may evaluate lower-dose options. Altimmune said it would likely use a 24-week primary efficacy endpoint while following patients through 52 weeks for further analyses and safety data. The company has not provided guidance on trial timing. Altimmune said it completed enrollment in the Phase II RESTORE trial in alcohol-associated liver disease, or ALD. The study enrolled about 120 patients with ALD and a history of chronic heavy drinking, and topline data are expected in the second half of 2027. The company amended the RESTORE protocol so that liver stiffness measurements will be assessed hierarchically at week 48 and then at week 24. Altimmune said the change is intended to better characterize potential liver benefits over one year and support future regulatory discussions. Management said the protocol change did not alter the study’s population or power assumptions. The company also said a separate hepatic-impairment study enabled it to broaden RESTORE eligibility for patients with higher liver stiffness measurements, after observing no added risk in that population. Altimmune reported a second-quarter net loss of $22.8 million, or $0.12 per share, compared with a net loss of $22.1 million, or $0.27 per share, in the prior-year quarter. Research and development expense was $18.7 million, up from $17.2 million a year earlier. General and administrative expense was $7.6 million, compared with $5.7 million in the prior-year period. R&D spending included $11.6 million in direct pemvidutide-development costs, including $3.8 million for MASH, $5.3 million for Phase II AUD and ALD trials, and $2.5 million for chemistry, manufacturing and controls activities. Chief Financial Officer Greg Weaver said Altimmune raised approximately $310 million year to date, including a $225 million follow-on offering in April. The company had $519 million in cash as of June 30. Weaver said the cash balance is expected to fund operations through the PERFORMA Phase III MASH 52-week readout in 2029, but does not include funding for a potential Phase III AUD trial. The company said its preference is to use non-dilutive financing for that program, potentially including royalties, debt or strategic partnerships. Altimmune, Inc is a clinical-stage biopharmaceutical company headquartered in Gaithersburg, Maryland, dedicated to the development of vaccines and immunotherapeutics. The company leverages proprietary technology platforms to create intranasal vaccine candidates and novel therapies targeting liver diseases and metabolic disorders. Altimmune's approach emphasizes the stimulation of both systemic and mucosal immune responses to address unmet medical needs in infectious and chronic conditions. Among its lead programs, NasoVAX is an investigational intranasal influenza vaccine designed to provide broad, long-lasting protection through a single, non-invasive dose. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Altimmune Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is pivoting Altimmune into a late-stage company focused on a continuum of serious liver diseases, including MASH, Alcohol Use Disorder (AUD), and Alcohol-Associated Liver Disease (ALD). The initiation of the Phase III PERFORMA trial in MASH occurred just three months after securing funding, reflecting an aggressive execution strategy to capitalize on pemvidutide's balanced 1:1 glucagon/GLP-1 mechanism. Positive Phase II RECLAIM data in AUD demonstrated statistically significant reductions in heavy drinking days and met two FDA-recognized registrational endpoints, which management believes is the most robust data set in the indication to date. Strategic positioning focuses on the 'higher-risk' patient segment where AUD and liver impairment overlap, leveraging pemvidutide's dual ability to reduce alcohol cravings while providing direct metabolic benefits to the liver. Management highlighted that the AUD market has lacked innovation for 20 years, viewing the 12 million U.S. adults with moderate-to-severe AUD as a significant commercial opportunity similar to the recent evolution of the obesity market. Operational momentum is supported by high engagement from the hepatology and gastroenterology communities, who are increasingly using PEth testing to diagnose AUD within their MASH patient populations. The Phase III PERFORMA MASH trial is expected to reach its 52-week primary readout in 2029, with enrollment projected to take 18 to 24 months across approximately 300 global sites. Management plans to request an end-of-Phase II meeting with the FDA to discuss a single pivotal Phase III trial design for AUD, which may include patients with lower BMIs and explore lower dosage options. The RESTORE trial in ALD has been amended to a hierarchical analysis at 48 weeks then 24 weeks to better demonstrate long-term liver benefits (liver stiffness) to support future regulatory filings. Top-line data for the Phase II RESTORE trial in ALD is anticipated in the second half of 2027, focusing on differentiating pemvidutide from competitors that only address drinking behavior without liver-specific benefits. Financial strategy for the potential AUD Phase III trial prioritizes non-dilutive funding sources, including strategic partnerships, debt, or royalty financing, rather than utilizing the current $519 million cash reserve dedicated to MASH. The company reported a cash balance of $519 million as of June 30, 2026, providing a runway through the 2029 MASH readout but excluding the costs of a potential AUD Phase III program. A protocol amendment for the RESTORE ALD trial shifted the primary focus to a 48-week assessment to align with regulatory preferences for chronic disease evidence and liver benefit durability. Management noted that while GI-related adverse events led to some discontinuations in the AUD trial, the rates were comparable to placebo, where discontinuations were driven by lack of efficacy. The PERFORMA trial will utilize 'AIM-MASH Assist' AI technology to reduce pathologist variability and screen failure rates, marking the first Phase III trial to incorporate this specific digital pathology workflow. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management is targeting the lower end of the 18-24 month enrollment window by utilizing a global site footprint (1/3 U.S., 2/3 ex-U.S.) and leveraging existing CRO relationships. The trial design aims to be 'PI-friendly' by not over-burdening individual sites with high patient quotas, allowing them to participate in multiple concurrent studies. Based on recent June FDA guidance, management believes one well-controlled Phase III trial may be sufficient for approval, supported by the weight of evidence from existing pemvidutide safety data. The company intends to include both AUD-only and AUD-ALD overlap patients to demonstrate the drug's unique dual-action profile. Resmetirom will not be permitted during the PERFORMA trial to avoid confounding the 52-week biopsy results, though history of treatment failure on such drugs will be documented. Background GLP-1 use will be restricted to stable anti-diabetic doses only, ensuring the primary endpoint measures pemvidutide's specific therapeutic effect. Approximately 1/3 of AUD patients are not overweight; management intends to study this 'lean' population to secure a broad label and explore if lower doses are sufficient for patients without metabolic complications. This expansion is intended to address the full spectrum of the 27 million U.S. adults with AUD, not just those with comorbid obesity.

Initiated global PERFORMA Phase 3 trial in MASH Reported positive topline data from RECLAIM Phase 2 trial in AUD Completed patient enrollment in RESTORE Phase 2 trial in ALD $519 million in cash, cash equivalents and investments as of June 30, 2026 Webcast to be held today at 8:30 a.m. ET GAITHERSBURG, Md., Aug. 12, 2026 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company developing pemvidutide to address serious liver diseases, today announced financial results for the second quarter ended June 30, 2026, and provided a corporate update. “We have achieved several important milestones as we continue to successfully execute our strategy, including the initiation of the PERFORMA Phase 3 MASH trial and positive topline data from the RECLAIM Phase 2 AUD trial. The team remains focused on advancing our differentiated pemvidutide franchise in both MASH and AUD, each an area of unmet need with substantial future sales potential,” said Jerry Durso, Chief Executive Officer and Chairman of the Board of Altimmune. “We are also pleased to announce completion of enrollment in the RESTORE Phase 2 ALD trial. Our momentum positions Altimmune to deliver on our goals of bringing pemvidutide to patients with serious liver diseases and creating value for shareholders.” Key Highlights and Anticipated Milestones Metabolic Dysfunction-Associated Steatohepatitis (MASH) Pemvidutide was granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration (FDA) based on 24-week data from the IMPACT Phase 2b trial In August 2026, the Company announced the initiation of the global PERFORMA Phase 3 MASH trial, with 52-week data readout anticipated in 2029 Alcohol Use Disorder (AUD) In July 2026, the Company reported positive topline results from the RECLAIM Phase 2 trial of pemvidutide in AUD Alcohol-associated Liver Disease (ALD) In July 2026, the Company completed patient enrollment in the RESTORE Phase 2 trial of pemvidutide in ALD Corporate Updates In April 2026, the Company completed an oversubscribed public offering of common stock, pre-funded warrants, and stock warrants, resulting in gross proceeds of $225.0 million In June 2026, the Company announced plans to relocate its corporate headquarters to Morristown, New Jersey later in 2026 Financial Results for the Three Months Ended June 30, 2026 Altimmune reported cash, cash equivalents and investments totaling $519 million as of June 30, 2026 Research and development (R&D) expenses were $18.7 million for the three months ended June 30, 2026, compared to $17.2 million in the same period in 2025, with the increase driven primarily by the ongoing ALD trial as well as the startup costs for the PERFORMA Phase 3 trial in MASH, partially offset by the decrease in expenses related to completion of the IMPACT Phase 2b trial in MASH, which was ongoing in 2025. R&D expenses for the quarter ended June 30, 2026, included $11.6 million in direct costs related to pemvidutide development activities General and administrative (G&A) expenses were $7.6 million for the three months ended June 30, 2026, compared to $5.7 million in the same period in 2025. The increase was driven primarily by an increase in professional services and compensation expenses in the second quarter of 2026 Interest income was $4.5 million for the three months ended June 30, 2026 Net loss for the three months ended June 30, 2026, was $22.8 million, or $0.12 net loss per share, compared to a net loss of $22.1 million, or $0.27 net loss per share, in the same period in 2025 Following the conclusion of the call, the webcast will be available for replay on the IR page of the Company’s website at www.altimmune.com. The Company has used, and intends to continue to use, the IR portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD. About Pemvidutide Pemvidutide is an investigational novel peptide with balanced 1:1 glucagon/GLP-1 dual receptor agonist activity that has an effect on reducing liver fat, inflammation, and fibrosis, in development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD), and alcohol-associated liver disease (ALD). The activation of glucagon receptors results in direct effects on the liver, while GLP-1 receptors mediate metabolic effects such as appetite suppression and weight loss and are involved in pathways related to craving and reward. The FDA granted Fast Track designations to pemvidutide for the treatment of MASH and AUD, as well as Breakthrough Therapy Designation for MASH. In December 2025, the Company announced topline 48-week data from the IMPACT Phase 2b trial in MASH. In July 2026, the PERFORMA Phase 3 trial, a global, randomized, double-blind, placebo-controlled, parallel-group study of pemvidutide in patients with MASH was initiated. In July 2026, the Company announced positive topline results from the RECLAIM Phase 2 trial in AUD. In July 2026, the Company completed enrollment of the RESTORE Phase 2 trial in ALD. About Altimmune Altimmune is a late clinical-stage biopharmaceutical company developing therapies for patients with serious liver diseases. The Company’s lead candidate, pemvidutide, is a unique dual-action therapy targeting both glucagon and GLP-1 receptors in a balanced 1:1 ratio in development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD) and alcohol-associated liver disease (ALD). For more information, please visit www.altimmune.com. Follow @Altimmune, Inc. on LinkedInFollow @AltimmuneInc on X Forward-Looking StatementsAny statements made in this press release related to the development or commercialization of pemvidutide, an investigational product candidate, and other business, regulatory and financial matters including without limitation, clinical trial study design, status, correspondence, results and data, including the ongoing PERFORMA and RESTORE trials, the timing of key milestones for the Company’s clinical programs, future plans or expectations for pemvidutide for the treatment of MASH, AUD and ALD, the potential benefits of Fast Track and Breakthrough Therapy Designations, including potential regulatory timeline and approval benefits, the Company’s financial position, and the prospects for receiving regulatory approval or commercializing or selling any product or drug candidates, financial results, and the impact of the changes to our leadership and governance structure, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to Altimmune, Inc. may identify forward-looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including risks relating to: delays in regulatory review, manufacturing and supply chain interruptions, access to clinical sites, enrollment, adverse effects on healthcare systems and disruption of the global economy;  the reliability of the results of studies relating to human safety and possible adverse effects resulting from the administration of the Company's product candidates; the Company's ability to manufacture clinical trial materials on the timelines anticipated; and the success of future product advancements, including the success of future clinical trials. Further information on the factors and risks that could affect the Company's business, financial conditions and results of operations are contained in the Company's filings with the U.S. Securities and Exchange Commission, including under the heading "Risk Factors" in the Company's most recent annual report on Form 10-K, quarterly report on Form 10-Q and the Company’s other filings with the SEC, which are available at www.sec.gov. Investor Contact:Luis Sanay, CFAVice President, Investor [email protected] Media Contact:Real Chemistry [email protected]

Puma Biotechnology PBYI reported second-quarter 2026 adjusted earnings of 19 cents per share, beating the Zacks Consensus Estimate of 10 cents. In the year-ago quarter, the company had reported adjusted earnings of 15 cents per share. Total revenues for the quarter were $56.5 million, which beat the Zacks Consensus Estimate of $53 million. Revenues increased 7.8% year over year, driven by higher net product sales. Total revenues comprised net product sales of Nerlynx (neratinib), PBYI’s only marketed drug in the United States, and royalty revenues. Nerlynx is indicated for the treatment of early-stage HER2-positive breast cancer. Year to date, shares of Puma Biotechnology have rallied 36.5% compared with the industry’s 4.4% growth. Image Source: Zacks Investment Research Product revenues from Nerlynx totaled $53.6 million in the second quarter, up about 9% year over year. This metric beat our model estimate of $50.9 million. Royalty revenues declined 9.4% year over year to $2.9 million. Selling, general and administrative (SG&A) expenses (excluding stock-based compensation expense) declined 4.1% year over year to $16.3 million. Research and development (R&D) expenses (excluding stock-based compensation expense) totaled $18.2 million, up 22.1% year over year, reflecting higher costs associated with clinical studies on alisertib along with higher internal R&D expenses. As of June 30, 2026, PBYI had cash, cash equivalents, restricted cash and investment securities of $93.9 million compared with $101.5 million as of March 31, 2026. Puma Biotechnology raised its financial guidance for 2026. For full-year 2026, total revenues are expected to be in the range of $224-$231 million compared with the previous projection of $222-$229 million. The Zacks Consensus Estimate for the metric is pegged at $224.5 million. Net product revenues are projected to be in the range of $205-$209 million versus the earlier expectation of $202-$206 million. Meanwhile, royalty revenues are expected to be to range from $19 million to $22 million, down from the previous expectation of $20–$23 million. The company expects to generate net income of $17-$20 million compared with the earlier projection of $16-$19 million for 2026. For the third quarter of 2026, the company expects net product revenues to be between $54 million and $56 million and royalty revenues in the range of $2 million to $3 million. Total revenues are expected to be between $56 million and $59 million. The company anticipates reporting a net income of approximately $2 million to $3.5 million for the quarter. Puma Biotechnology in-licensed global development and commercialization rights to alisertib, an aurora kinase A inhibitor, from Japan’s Takeda in 2022. It is developing alisertib for hormone receptor-positive breast cancer as well as small-cell lung cancer (SCLC). The company is conducting a phase II ALISCA-Breast1 study on alisertib in combination with endocrine treatment in patients with chemotherapy-naïve HER2-negative, hormone receptor-positive metastatic breast cancer. Updated data from the study are expected in the fourth quarter of 2026. PBYI is conducting ALISCA-Lung1, a phase II study evaluating alisertib as a monotherapy for the treatment of patients with extensive-stage SCLC. The company plans to expand enrollment in both these studies in the second half of 2026. Puma Biotechnology plans to initiate enrollment in the phase I/II ALISCA-Lung2 study of alisertib in combination with paclitaxel for the treatment of patients with extensive-stage SCLC in the third quarter of 2026. Puma Biotechnology, Inc. price-consensus-eps-surprise-chart | Puma Biotechnology, Inc. Quote Puma Biotechnology currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy) and Altimmune ALT, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Over the past 60 days, earnings per share estimates for Harmony Biosciences have increased from $3.20 to $3.33 for 2026. Over the same period, estimates for earnings per share increased from $3.64 to $3.92 for 2027. HRMY shares have risen 3.5% year to date. Harmony Biosciences missed on earnings in three of the trailing four quarters and beat in the remaining one, delivering an average negative surprise of 13.97%. Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have increased to $3.02 from $2.97. Over the same period, EPS estimates for 2027 have risen to $5.31 from $4.81. LQDA shares have gained 159.3% year to date. Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%. Over the past 60 days, estimates for Altimmune’s 2026 loss per share have narrowed from 69 cents to 64 cents. Over the same period, loss estimates for 2027 have also improved from 73 cents to 64 cents. ALT shares have declined 16.7% year to date. Altimmune’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 15.81%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Puma Biotechnology, Inc. (PBYI) : Free Stock Analysis Report Altimmune, Inc. (ALT) : Free Stock Analysis Report Liquidia Corporation (LQDA) : Free Stock Analysis Report Harmony Biosciences Holdings, Inc. (HRMY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Pemvidutide 2.4 mg delivered a statistically significant and clinically meaningful reduction in heavy drinking days, the primary endpoint of the trial Important secondary endpoints were also met, including two-level reduction in WHO risk drinking levels and zero heavy drinking days, both of which are recognized by the FDA as registrational endpoints A generally favorable tolerability profile was observed in the trial Conference call to be held today at 8:00 am ET GAITHERSBURG, Md., July 28, 2026 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company focused on serious liver diseases, today announced positive topline results from the RECLAIM Phase 2 trial evaluating pemvidutide, an investigational balanced glucagon/GLP-1 dual receptor agonist, in patients with moderate to severe alcohol use disorder (AUD). The trial met its primary endpoint with a highly statistically significant reduction in heavy drinking days (HDD) versus placebo, with consistent positive results across important secondary endpoints, including the World Health Organization (WHO) Risk Drinking Levels (RDL), zero HDD and phosphatidyl ethanol (PEth) levels.  A generally favorable tolerability profile was observed in the trial. The Company plans to request an End-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA) based on the results of the trial. “We are extremely encouraged by these compelling topline results, which showed a highly significant reduction in heavy drinking days and nearly two-thirds of patients treated with pemvidutide achieving a two-level reduction in their WHO-RDL, a clinically meaningful outcome for these patients,” said Christophe Arbet-Engels, M.D., Ph.D., Chief Medical Officer at Altimmune. “These data reflect pemvidutide’s strong and consistent efficacy across important measures of drinking behavior, together with a generally favorable tolerability profile in this difficult-to-treat disorder. Given the known detrimental effects of alcohol on the liver, the liver-directed impact of glucagon in pemvidutide may provide further benefit in the treatment of AUD over GLP-1 alone, underscoring pemvidutide’s promising potential differentiation.” Efficacy Data Key efficacy results included: Statistically significant reduction in the primary endpoint of HDD per week versus placebo (p=0.0014) Statistically significant results on secondary endpoints, including two that are registrational endpoints Statistically significant change in percent of days with abstinence versus placebo (p=0.0075) Statistically significant reduction in PEth levels versus placebo (p<0.0001) Statistically significant reduction in body weight, as measured by a placebo-adjusted difference in change from baseline of 9.1% at 24 weeks (p<0.0001), with no evidence of plateauing Safety and Tolerability Data *2 vomiting, 1 constipation, 1 fatigue, 1 exacerbation of hemorrhoids Pemvidutide was generally well tolerated in this patient population with high unmet need. The new, simple two-step titration for the 2.4 mg dose may improve gastrointestinal (GI) tolerability compared to prior pemvidutide titration schemes. The majority of adverse events were mild to moderate in severity. There was one serious adverse event (SAE) (hyponatremia) in the pemvidutide arm that was deemed possibly related to treatment drug by the principal investigator. “As someone who has dedicated his career to understanding and treating alcohol use disorder, I recognize the significance of these findings, particularly given the current attention on the adverse health impact of heavy drinking. These results provide a consistent picture of treatment benefit on self-reported drinking outcomes, supported by objective PEth biomarker evidence,” said Henry Kranzler, M.D., Karl E. Rickels Professor of Psychiatry and Director, Center for Studies of Addiction, University of Pennsylvania Perelman School of Medicine, and Principal Investigator of the RECLAIM trial. “These data underscore the potential for pemvidutide to address multiple dimensions of alcohol use disorder by supporting abstinence and reducing heavy drinking, findings that build on prior evidence of its activity in the liver.” “These top-line data strengthen our confidence in pemvidutide's differentiation and its potential to benefit people living with MASH, AUD and ALD, who currently have limited treatment options,” said Jerry Durso, Chief Executive Officer and Chairman of the Board of Altimmune. “These results represent yet another important milestone for Altimmune as we continue to execute on our goal to bring pemvidutide to patients with serious liver diseases while creating value for shareholders.” Based on these data, Altimmune plans to request an End-of-Phase 2 (EOP2) meeting with the FDA to discuss the path forward for pemvidutide in AUD. Results from the RECLAIM trial will be submitted for presentation at a forthcoming medical conference and for publication in a peer-reviewed journal. Conference Call InformationAltimmune will host a conference call and webcast at 8:00 a.m ET today to discuss the RECLAIM topline data. The conference call will be webcast live on Altimmune’s Investor Relations (IR)  website. Participants who would like to join by phone may register here to receive the dial-in numbers and unique pin to access the call. Following the conclusion of the call, the webcast will be available for replay on the IR page of the company’s website. About RECLAIM RECLAIM (NCT06987513) is a Phase 2 trial evaluating the safety and efficacy of pemvidutide in Alcohol Use Disorder (AUD) patients with BMI >25 kg/m2, and is the first Phase 2 multicenter study evaluating a dual glucagon-GLP-1 agonist in AUD to report results. Approximately 100 patients were randomized 1:1 to receive either 2.4 mg pemvidutide or placebo once weekly for 24 weeks. The primary endpoint of the trial was the change from baseline in the average number of heavy drinking days (HDD) per week, with secondary endpoints including the proportion of patients achieving a 2-level reduction in World Health Organization (WHO) Risk Drinking Levels (RDL), zero HDD, and absolute change from baseline in average levels of phosphatidylethanol (PEth), an objective serum biomarker of alcohol intake. The 2-level reduction in WHO risk drinking levels and zero HDD are recognized by the FDA as registrational endpoints. About AUD Alcohol use disorder (AUD) is a medical condition driven by an impaired ability to stop or control the harmful consumption of alcohol. AUD can also lead to serious health consequences, including liver cirrhosis, cardiovascular disease, and cancer. Additionally, many patients with AUD present with comorbidities including excess fat in the liver and obesity, further amplifying their risk for poor outcomes. The World Health Organization estimates that harmful alcohol consumption is the seventh leading cause of global death and disability, with alcohol accounting for 50% of all liver-related deaths. Today, it is estimated that 28 million adults in the U.S. suffer from AUD. Patients with AUD are characterized as mild, moderate or severe according to the DSM-5 criteria with approximately 12 million having moderate or severe forms of the disease. Only three drugs for AUD have been approved by the FDA, but these agents have limited efficacy for AUD and its comorbidities and are used by less than 2% of patients. There is a substantial unmet need for new and more effective treatments that not only reduce alcohol cravings and heavy drinking days but also can address the numerous other risks of the disease. About Pemvidutide Pemvidutide is a novel, investigational peptide with balanced 1:1 glucagon/GLP-1 dual receptor agonist activity, in development for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD) and alcohol-associated liver disease (ALD). The activation of glucagon receptors results in direct effects on the liver, including reductions in liver fat, inflammation and fibrosis, while GLP-1 receptors mediate metabolic effects such as appetite suppression and weight loss, and may play a role in pathways related to craving and reward. The FDA granted Fast Track designations to pemvidutide for the treatment of MASH and AUD, as well as Breakthrough Therapy Designation for MASH. In December 2025, the Company announced 48-week data from the IMPACT Phase 2b trial in MASH. In July 2026, the Company announced results from the RECLAIM Phase 2 trial in AUD. The RESTORE trial in ALD was initiated in July 2025, and enrollment completion is expected in the third quarter 2026. The Company plans to initiate the PERFORMA Phase 3 trial, a multinational, randomized, double-blind, placebo-controlled, parallel-group study of pemvidutide in patients with MASH in the third quarter of 2026. About Altimmune Altimmune is a late clinical-stage biopharmaceutical company developing therapies for patients with serious liver diseases. The Company’s lead candidate, pemvidutide, is a unique dual-action therapy targeting both glucagon and GLP-1 receptors in a balanced 1:1 ratio in development for the treatment of MASH, AUD and ALD. For more information, please visit www.altimmune.com. Forward-Looking Statements This press release has been prepared by Altimmune, Inc. ("we," "us," "our," "Altimmune" or the "Company") and includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the timing of key milestones for our clinical assets, the performance of our drug candidates in ongoing and future clinical trials including the RECLAIM trial (topline results of which are described herein), the ongoing RESTORE trial and the planned PERFORMA trial, evaluating pemvidutide in patients with MASH, AUD and ALD, the potential benefits of Fast Track and Breakthrough Therapy Designations and the prospects for regulatory approval, commercializing, market size, market potential, competitive landscape, or selling any product or drug candidates. In addition, when or if used in this presentation, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “potential”, “suggest” and similar expressions and their variants, as they relate to the Company may identify forward-looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including risks such as delays in regulatory review, manufacturing and supply chain interruptions, access to clinical sites, enrollment, adverse effects on healthcare systems and disruption of the global economy; patient baseline characteristics which may vary and impact the success of future trials; the reliability of the results of studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates; the Company’s ability to manufacture clinical trial materials on the timelines anticipated; whether the FDA will agree with the Company's proposed development and regulatory strategy for pemvidutide in AUD, including following any End-of-Phase 2 meeting; the risk that results from the RECLAIM trial may not be predictive of results in the RESTORE trial, the planned PERFORMA trial, or any other future or larger clinical trial; the Company's need for substantial additional capital to complete development of pemvidutide, which may not be available on acceptable terms or at all; competition from other companies developing treatments for MASH, AUD and ALD; and the success of future product advancements, including the success of current and future clinical trials. Further information on the factors and risks that could affect the Company's business, financial conditions and results of operations are contained in the Company’s filings with the U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in the Company’s latest annual report on Form 10-K, quarterly report on Form 10-Q and our other filings with the SEC, which are available at www.sec.gov. Investor Contact:Luis Sanay, CFAVice President, Investor [email protected] Media Contact:Real Chemistry [email protected]

A month has gone by since the last earnings report for Altimmune, Inc. (ALT). Shares have lost about 11.3% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Altimmune due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Altimmune, Inc. before we dive into how investors and analysts have reacted as of late. Altimmune’s Q1 Loss Narrower Than Expected, Revenues Nil Altimmune incurred a first-quarter 2026 loss of 18 cents per share, narrower than the Zacks Consensus Estimate of a loss of 25 cents. The company had recorded a loss of 26 cents per share in the year-ago quarter.The company did not generate any revenues in the first quarter, as it does not have a marketed drug in its portfolio. ALT's Q1 Results in Detail Research and development (R&D) expenses totaled $16.2 million in the reported quarter, up 2.3% year over year, primarily due to ongoing clinical studies and startup costs associated with the late-stage MASH study. R&D spending included $9.5 million in direct pemvidutide development costs.General and administrative expenses were $8.1 million, up 34.3% year over year, primarily driven by an increase in severance costs and professional fees.As of March 31, 2026, Altimmune had cash, cash equivalents and short-term investments of $332 million compared with $274 million as of Dec. 31, 2025. The company raised $75 million in a registered direct and $8 million via ATM in January-February 2026 and secured $225 million in gross proceeds from an oversubscribed public offering completed in April 2026, bringing pro forma cash to roughly $535 million as of April 30, 2026. Management expects its cash runway to support operations into 2029. In the past month, investors have witnessed a upward trend in fresh estimates. The consensus estimate has shifted 30.21% due to these changes. Currently, Altimmune has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock has a grade of F on the value side, putting it in the bottom 20% quintile for value investors. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Altimmune has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months. Altimmune belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Esperion Therapeutics (ESPR), has gained 1% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026. Esperion Therapeutics reported revenues of $80.1 million in the last reported quarter, representing a year-over-year change of +23.2%. EPS of -$0.10 for the same period compares with -$0.21 a year ago. For the current quarter, Esperion Therapeutics is expected to post a loss of $0.02 per share, indicating no change from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days. The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Esperion Therapeutics. Also, the stock has a VGM Score of D. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Altimmune, Inc. (ALT) : Free Stock Analysis Report Esperion Therapeutics, Inc. (ESPR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research