ALT's Q2 Loss Narrower Than Expected, Pemvidutide's Studies in Focus
Altimmune ALT 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 on Pemvidutide. 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 due to 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.
Year to date, shares of ALT have lost 18.9% compared with the industry’s 0.5% decline.
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ALT's Key Pipeline Updates
Pemvidutide, Altimmune’s lead candidate, is an investigational dual glucagon/GLP-1 receptor agonist being developed for MASH, alcohol use disorder (AUD) and alcohol-associated liver disease (ALD).
Based on positive data from the phase IIb IMPACT study announced in December 2025, Altimmune initiated the global phase III registrational PERFORMA study earlier this month. The study will evaluate the safety and efficacy of pemvidutide in MASH patients with moderate-to-severe liver fibrosis, with 52-week data expected in 2029.
Altimmune announced top-line data from the mid-stage RECLAIM study evaluating pemvidutide for the treatment of patients with AUD in July. The study met its primary endpoint by demonstrating a statistically significant reduction in heavy drinking days along with positive secondary endpoints. Pemvidutide showed a favorable safety profile and the company plans to discuss the next regulatory steps with the FDA and European authorities.
The company is developing the candidate in the phase II RESTORE study in patients with ALD. Patient enrollment was completed in July, with top line data expected in the second half of 2027.
Altimmune, Inc. Price, Consensus and EPS Surprise
Altimmune, Inc. price-consensus-eps-surprise-chart | Altimmune, Inc. Quote
ALT's Zacks Rank & Other Stocks to Consider
Altimmune currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the biotech sector are Amneal Pharmaceuticals AMRX and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy) and AC Immune ACIU, which carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, earnings per share estimates for Amneal Pharmaceuticals have increased from $1.00 to $1.02 for 2026. Over the same period, estimates for earnings per share increased from $1.12 to $1.21 for 2027. AMRX shares have risen 40.2% year to date.
Amneal Pharmaceuticals beat earnings in each of the trailing four quarters, delivering an average surprise of 32.82%.
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 128.5% 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 AC Immune’s 2026 loss per share have narrowed from 84 cents to 60 cents. Over the same period, earnings estimates for 2027 remained unchanged at 17 cents. ACIU shares have declined 16.6% year to date.
AC Immune’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 33.25%.
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This article originally published on Zacks Investment Research (zacks.com).
