Altimmune, Inc. (ALT): history, ownership, mission, how it works & makes money

A Brief History of Altimmune, Inc. (ALT)

Formation and Early Development

Altimmune, Inc. was founded in 2013 in Gaithersburg, Maryland. The company was established with a vision to develop innovative therapeutics for liver and respiratory diseases, utilizing its proprietary platform technologies.

Initial Public Offering (IPO)

In June 2019, Altimmune went public, raising approximately $20 million. The initial offering price was set at $5.00 per share, and the company traded under the ticker symbol ALT.

Key Products and Pipeline

Altimmune's product pipeline includes:

• ALT-702: An immune-modulating therapeutic for hepatitis B with promising early-stage clinical results.
• ALT-100: A peptide-based therapeutic for NASH (Non-alcoholic steatohepatitis) currently in preclinical development.
• AdCOVID: A nasal vaccine for COVID-19, which entered clinical trials in 2021.

Financial Performance

As of the end of fiscal year 2022, Altimmune reported total revenue of $2.7 million. The net loss for the same period was reported to be $33.3 million, reflecting a consistent investment in research and development.

Funding Rounds and Partnerships

Altimmune has successfully raised capital through various funding rounds:

• Series B funding in 2018: $25 million.
• Private placement of common stock in 2020: $11 million.
• Grant funding from the U.S. government for AdCOVID development: $12 million.

Recent Developments

In 2023, Altimmune announced positive top-line results from its Phase 1 trial of AdCOVID, evidencing a strong immune response with a favorable safety profile.

Stock Performance

As of October 2023, Altimmune's stock price is approximately $2.45, reflecting a market capitalization of around $100 million.

Table: Altimmune Financial Overview (2022-2023)

Outlook and Challenges

Looking ahead, Altimmune aims to accelerate the development of its product candidates and expand its therapeutic indications. The company faces challenges related to regulatory approvals and market competition, particularly in the COVID-19 vaccine landscape.

A Who Owns Altimmune, Inc. (ALT)

Shareholder Structure

Altimmune, Inc. (ALT) is publicly traded on the NASDAQ exchange. The ownership of the company can be broken down into various categories of shareholders, including institutional investors, retail investors, and company insiders.

Major Institutional Shareholders

The following table lists significant institutional shareholders of Altimmune, Inc. along with their ownership stakes.

Insider Ownership

Insider ownership can significantly influence corporate governance and strategic direction. The following table outlines key insiders and their respective ownership percentages.

Recent Share Price Data

As of September 30, 2023, Altimmune, Inc. had the following financial statistics:

Recent Changes in Ownership

There have been notable changes in ownership during the past year. The following table presents major transactions.

Altimmune, Inc. (ALT) Mission Statement

Company Overview

Altimmune, Inc. (NASDAQ: ALT) is a clinical-stage biopharmaceutical company focused on developing immune-modulating therapeutics to treat diseases with significant unmet needs. The company leverages a robust pipeline aimed at preventing and treating diseases, particularly in the areas of infectious disease, liver disease, and oncology.

Mission Statement

The mission of Altimmune is to develop innovative therapies that significantly improve the lives of patients. The company is committed to addressing critical health challenges through groundbreaking therapeutics.

Core Values

• Innovation: Pioneering novel treatments.
• Integrity: Upholding the highest ethical standards.
• Collaboration: Partnering with others for scientific advancement.
• Patient-Centricity: Focusing on the needs and wellbeing of patients.

Financial Overview

As of the latest available data, Altimmune reported a cash balance of approximately $55 million as of September 30, 2023. This financial backing is critical for advancing their clinical trials and product development.

Product Pipeline

Altimmune is advancing several product candidates through various stages of development:

• ALT-801: Treating obesity and metabolic syndrome.
• ALT-70: Targeting liver disease with a focus on NASH.
• AdCOVID: A nasal vaccine for COVID-19.

Research and Development Focus

In 2023, Altimmune allocated approximately 70% of its total expenses to research and development activities. This emphasizes the company's commitment to advancing its therapeutic candidates and enhancing its product pipeline.

Strategic Partnerships

Altimmune collaborates with several organizations to accelerate its research efforts. Notable partnerships include:

• Scripps Research: Focus on vaccine development.
• University of Maryland: Collaborative studies on metabolic disease.
• Various biotech companies: Joint ventures in therapeutic advancements.

Market Position and Competitive Landscape

Altimmune operates in a highly competitive space with various biopharma companies focusing on immune-modulating therapies. The global biopharmaceutical market is projected to reach $3 trillion by 2025, which presents significant opportunities for growth.

Future Outlook

Looking ahead, Altimmune aims to enhance its market presence by focusing on innovative product development and strategic partnerships. The ongoing clinical trials and advancements in their product pipeline are expected to impact the company’s growth trajectory positively.

How Altimmune, Inc. (ALT) Works

Company Overview

Altimmune, Inc. is a clinical-stage biopharmaceutical company focused on developing therapeutics for liver diseases, respiratory diseases, and vaccines. It primarily works with innovative therapies that aim to enhance the immune response. As of October 2023, Altimmune has a market capitalization of approximately $45 million.

Product Pipeline

Altimmune has several key products in development:

• ALT-801: A treatment for obesity and metabolic diseases, currently in Phase 2 clinical trial.
• ALT-702: A therapeutic vaccine for HCV, which is in Phase 1 clinical testing.
• AdCOVID: An intranasal vaccine for COVID-19, which has completed its Phase 2 trial.

Recent Financial Performance

For the fiscal year 2022, Altimmune reported revenues of approximately $1.2 million, primarily from grants and collaborations. The company had an operating loss of $27.5 million for the same year. As of September 30, 2023, Altimmune had cash and cash equivalents of approximately $10 million.

Investment and Funding

Altimmune has raised significant funds through various financing rounds:

• In July 2022, the company raised $9 million in a public offering.
• A $12 million private placement was completed in March 2023.

Stock Performance

As of October 2023, Altimmune's stock price is approximately $1.50 per share, showing a year-to-date decline of around 35%.

Collaborations and Partnerships

Altimmune has established partnerships to enhance its research:

• A collaboration with the U.S. National Institutes of Health (NIH) aimed at developing vaccines.
• Strategic alliance with other biotech firms for research initiatives.

Key Financial Metrics

Regulatory Status

Altimmune's products are under regulatory review by the FDA, particularly for its COVID-19 vaccine candidate, AdCOVID, which is expected to undergo further evaluation in 2024.

Clinical Trials

Current clinical trials are essential to Altimmune's development strategy:

• ALT-801 Phase 2 trial commenced in Q3 2023.
• ALT-702's Phase 1 trial results are anticipated in early 2024.
• AdCOVID's data from the Phase 2 trial will inform future development decisions.

Market Opportunities

Altimmune is positioned in key therapeutic areas with significant market potential:

• The global obesity treatment market is projected to reach $13 billion by 2027.
• The therapeutic vaccine market for infectious diseases is estimated at $44 billion by 2025.

How Altimmune, Inc. (ALT) Makes Money

Product Development and Pipeline

Altimmune, Inc. engages in the development of immunotherapeutics for the treatment of various diseases. The company primarily focuses on two key therapeutic areas: infectious diseases and liver diseases. As of 2023, Altimmune's leading product candidates include:

• ALT-801: A peptide-based immune modulator for obesity and metabolic disease.
• HEPLISAV-B: A hepatitis B vaccine candidate.
• ALT-702: A treatment for chronic hepatitis B infection.

Revenue Streams

Altimmune generates revenue through various channels, including:

• Government Grants: The company received approximately $4.4 million in grant funding from the National Institutes of Health (NIH) in 2021 for the development of innovative treatments.
• Partnerships and Collaborations: Altimmune has entered into collaborations with major pharmaceutical companies, providing upfront payments and milestone payments; for example, a $20 million collaboration with a leading biotech firm in 2022.
• Equity Financing: In 2023, Altimmune completed a public offering raising $30 million to support its clinical trials.

Clinical Trials and Regulatory Milestones

The success of Altimmune's revenue model heavily relies on the outcomes of clinical trials and subsequent regulatory approvals. Financial aspects related to these processes include:

• Clinical Trial Funding: For instance, the budgeting for the Phase 2 study of ALT-801 was estimated at around $15 million.
• Regulatory Milestones: Achieving a key milestone in a Phase 3 trial can result in milestone payments; for example, a potential $50 million payment upon FDA approval of HEPLISAV-B.

Current Financial Performance

As of Q2 2023, Altimmune reported the following financials:

Market Presence and Sales Strategy

Altimmune focuses on building its market presence through strategic partnerships and targeted marketing efforts. The company has established various distribution agreements to enhance product visibility and sales:

• Collaboration with Major Distributors: Collaborations with companies such as Vaxart have expanded Altimmune's reach in vaccine distribution.
• International Expansion: The company plans to enter European markets, anticipating a potential revenue increase of $10 million by 2024.

Future Outlook

Analysts predict significant growth in Altimmune's revenue streams in the upcoming years, contingent upon successful clinical trials and regulatory approvals. For instance, revenue projections for 2024 could exceed $25 million if all pipeline products reach the market.