ALTIMMUNE Business Summary

Altimmune Inc (ALT) is a late-stage clinical biopharmaceutical company primarily operating as a pre-revenue research and development entity focused on peptide-based therapeutics for obesity, metabolic dysfunction-associated steatohepatitis (MASH), and alcohol use disorder (AUD). The company’s business model centers on the clinical advancement and eventual licensing or commercialization of its lead asset, pemvidutide, a 1:1 balanced GLP-1/glucagon dual receptor agonist. As of early 2026, Altimmune generates negligible revenue, primarily through government grants and interest income, while maintaining a high-liquidity profile following a $75 million direct offering in January 2026 to fund Phase 3 registrational trials. The company competes directly with pharmaceutical giants Novo Nordisk (Wegovy) and Eli Lilly (Zepbound), as well as mid-cap peers like Madrigal Pharmaceuticals and Viking Therapeutics. Altimmune differentiates itself through pemvidutide’s dual-action mechanism, which targets both weight loss and significant liver fat reduction, positioning the company as a specialized player in the cardiometabolic and liver health sectors. Following a planned leadership transition effective January 1, 2026, Altimmune is led by Jerome "Jerry" Durso, who serves as President, CEO, and Chairman of the Board. Durso brings significant industry pedigree, having previously served as CEO of Intercept Pharmaceuticals and Chief Commercial Officer at Sanofi. The executive team is further bolstered by Chief Financial Officer Greg Weaver, Chief Medical Officer Dr. Christophe Arbet-Engels (formerly of Millendo and Poxel), and Chief Commercial Officer Linda M. Richardson, who joined in late 2025 to spearhead market entry strategies. The company’s scientific foundation is overseen by Chief Scientific Officer Dr. Scot Roberts. Notable institutional backing includes Redmont Capital—represented by co-founder and long-term director Philip Hodges—alongside significant positions held by Nuveen LLC, Goldman Sachs, and Geode Capital Management, reflecting strong institutional confidence in the company’s Phase 3 trajectory.