ALT Stock — Altimmune Inc.: Cash, EV, Pipeline

What they do

Our lead product candidate, pemvidutide (formerly known as ALT-801), is a balanced 1:1 glucagon/GLP-1 dual receptor agonist in development for the treatment of metabolic dysfunction-associated steatohepatitis (“MASH”), alcohol use disorder (“AUD”) and alcohol-associated liver disease (“ALD”).

Source: 10-K FY2025 via SEC EDGAR

Share price

$2.08

Market cap

$404.6M

Cash

$518.5M

Enterprise value

-$79.2M

Balance sheet

Cash	$518.5M
Debt	$34.7M
Net cash	$483.8M
Enterprise value	-$79.2M
Basic shares	194.5M shares
Fully diluted shares	290.3M shares
Fully diluted market cap	$603.9M
Cash per share	$2.67
Quarterly burn	$24.2M
Cash runway	21.4 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

194.5M

Pre-funded warrants

6.1M

Options

12.0M

RSUs

2.0M

Warrants

75.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.7M

FDSO

290.3M

Cap table as of 2026-08-07.

Price history

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Next catalyst

pemvidutide · Est. Nov 11, 2027 · PCD + 6 wks · guided in 12 mo

Recently reported

Pemvidutide Phase 2 Positive · 2026-07-28

alcohol-associated liver disease

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 11, 2027 in 12 mo PCD + 6 wks · Oct 28–Nov 25	pemvidutide RESTORE study, topline data · NCT07009860	Not disclosed	Not disclosed	H2 2027
Jan 12 - Feb 23 in 27 mo	Pemvidutide	Phase 3	Metabolic Dysfunction-Associated Steatohepatitis (MASH)	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Pemvidutide

Phase 3 · Active Modality: peptide

Aliases ALT-801

Target glucagon receptor / GLP-1 receptor (dual agonist)

Partnerships Mederis Diabetes, LLC: exclusive licensee of EuPort-domain incretin peptide IP (covers pemvidutide); economics not disclosed

Indications

MASH (moderate to advanced fibrosis) (Phase 3)
Alcohol use disorder (AUD) (Phase 2)
Alcohol-associated liver disease (ALD) (Phase 2)

Catalysts

— 2029

Status note Lead product candidate per this filing. PERFORMA registrational Phase 3 in MASH began enrolling Aug 3, 2026. IMPACT Phase 2b MASH 48-week topline reported Dec 2025; RECLAIM Phase 2 AUD topline reported Jul 28, 2026 (End-of-Phase 2 meeting planned); RESTORE Phase 2 ALD enrollment completed Jul 2026. Breakthrough Therapy Designation for MASH (Jan 2026); Fast Track for AUD (Aug 2025).

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Pemvidutide
Lead indication	Metabolic Dysfunction-Associated Steatohepatitis (MASH)
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07795164	Phase 3	Recruiting	Sponsor	ALT	—	Metabolic Dysfunction-Associated Steatohepatitis (MASH)	—
NCT07009860	Phase 2	Active, not recruiting	Sponsor	ALT	—	Alcohol-associated Liver Disease	H2 2027 Est. Nov 11, 2027 · PCD + 6 wks (Oct 28-Nov 25)

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Altimmune, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	6,500,000	+6,500,000	0.17%	2026-08-14
Great Point Partners	1,741,232	+1,741,232	1.25%	2026-08-14
Cormorant Asset Management	1,250,000	+1,250,000	0.19%	2026-08-14
Tang Capital Partners	666,022	no change	0.09%	2026-08-14
ADAR1 Capital Management	102,823	+102,823	0.01%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ALT — Altimmune Inc. ☆