Recent Updates — ALT
On October 27, 2026, Altimmune drew $10.0 million in principal under Tranche Three of its $125.0 million Loan and Security Agreement with Hercules Capital. The draw was triggered by the achievement of specific clinical and financial milestones. Consequently, the amortization date and interest-only period have been extended to June 1, 2028, and the company must maintain qualified cash equal to at least 60% of the outstanding term loan principal. A 1.0% Tranche Facility Charge was deducted from the funding proceeds. Altimmune operates in the biopharmaceutical industry, focusing on the development of treatments for infectious diseases and cancer.
Altimmune appointed Peter Greenleaf and Alex Howarth as new directors effective November 2, 2026, expanding the board from nine to eleven members. Greenleaf brings prior CEO experience at Aurinia Pharmaceuticals and MedImmune, while Howarth previously served as CFO of Madrigal Pharmaceuticals. Concurrently, John Gill, Mitchel Sayare, and Klaus Schafer announced their retirement from the board, with their terms concluding at the 2027 annual meeting. The appointments align with the company's transition to a late-stage clinical developer advancing pemvidutide for liver diseases. Altimmune is a biopharmaceutical company developing pemvidutide for serious liver diseases.
Altimmune appointed Richard Menziuso as Vice President, Global Controller and Principal Accounting Officer effective September 29, 2026. Menziuso brings 28 years of finance experience, including roles at Centessa Pharmaceuticals, Thermo Fisher Scientific, and Axovant Gene Therapies. Gregory Weaver remains Chief Financial Officer. The biopharmaceutical company develops therapies for infectious diseases and metabolic disorders.
Altimmune reported a net loss of $22.8 million, or $0.12 per share, for the second quarter ended June 30, 2026, compared to a $22.1 million loss in the prior year period. The company held $519 million in cash and investments as of June 30, 2026. Key clinical milestones included initiating the global Phase 3 PERFORMA trial for MASH, reporting positive topline data from the Phase 2 RECLAIM trial in AUD, and completing enrollment in the Phase 2 RESTORE trial for ALD. R&D expenses rose to $18.7 million due to startup costs for the PERFORMA trial and ongoing ALD work, while G&A expenses increased to $7.6 million. Altimmune is a late clinical-stage biopharmaceutical company developing pemvidutide for serious liver diseases.
On July 28, 2026, Altimmune announced positive topline results from the Phase 2 RECLAIM trial evaluating pemvidutide 2.4 mg for moderate to severe alcohol use disorder. The trial met its primary endpoint with a statistically significant reduction in heavy drinking days versus placebo (p=0.0014). Secondary endpoints included a two-level reduction in WHO Risk Drinking Levels (64.4% vs 34.8%, p=0.0049) and zero heavy drinking days (42.2% vs 17.4%, p=0.0066), both recognized by the FDA as registrational endpoints. The drug demonstrated a generally favorable safety profile, though nausea and vomiting were observed. Altimmune plans to request an End-of-Phase 2 meeting with the FDA and initiate a Phase 3 trial for MASH in Q3 2026. Altimmune is a late clinical-stage biopharmaceutical company developing therapies for serious liver diseases.
Altimmune, Inc. announced plans to relocate its corporate headquarters from Gaithersburg, Maryland to Morristown, New Jersey, later this year. The company entered into a 5-year office lease agreement for the new location with annual rent payments of approximately $300,000. This move is intended to support talent attraction and long-term cost efficiencies. Altimmune, Inc. is a late-stage biopharmaceutical development company.