Altimmune ends Q1 with $332M cash, secures FDA breakthrough therapy designation for Pemvidutide in MASH

Written by Heidi Cuthbert Published May. 13 2026

Altimmune (NASDAQ:ALT), a clinical-stage biopharmaceutical company developing treatments for metabolic and liver diseases, reported its first-quarter 2026 financial results and provided a business update.

As of March 31, 2026, the company had $332 million in cash, cash equivalents and short-term investments.

This balance increased to $535 million as of April 30, 2026, reflecting the completion of recent equity financings.

For the first quarter, research and development expenses totaled $16.2 million, general and administrative expenses were $8.1 million, and interest income was $2.9 million.

The net loss for the quarter was $22.6 million, or $0.18 per share.

In its clinical pipeline, pemvidutide, a novel GLP-1/glucagon dual receptor agonist, received FDA Breakthrough Therapy Designation for the treatment of metabolic dysfunction-associated steatohepatitis (MASH).

The global Phase 3 PERFORMA trial is expected to commence in the second half of 2026.

Topline data from the Phase 2 RECLAIM trial in alcohol use disorder (AUD) are anticipated in the third quarter of 2026, and enrollment in the Phase 2 RESTORE trial in alcohol-associated liver disease (ALD) is expected to be completed in the same period.