Altimmune Stock Goes Parabolic Following Q3 Results As CEO Touts 2025 As ‘Transformational Year:’ Retail Upbeat

Altimmune, Inc. ($ALT) shares soared over 18% after the small-cap, clinical-stage biotech reported better-than-expected bottom-line results and offered positive forward commentary.

Gaithersburg, Maryland-based Altimmune reported a third-quarter net loss that narrowed from $0.39 in 2023 to $0.32 in 2024. The narrower loss was despite revenue slumping from $362,000 to $5,000. 

Analysts, on average, estimated a loss of $0.36 per share.

Vipin Garg, CEO of Altimmune, highlighted the progress with its pipeline. The executive said the company plans to start a Phase 3 program of pemvidutide in obesity following a positive end-of-the-Phase 2 meeting with the FDA. 

Top-line efficacy data from a Phase 2b study of its lead drug candidate pemvidutide in metabolic dysfunction-associated steatotic disease (MASH) is due in the second quarter of 2025. 

The company also looks forward to submitting investigational new drug applications for pemvidutide in up to three additional indications, beginning in the fourth quarter.

“The data we have generated to date, coupled with the multiple key inflection points on the horizon, give us confidence that 2025 will be a transformational year for pemvidutide, and for Altimmune,” Garg said.

Altimmune ended the third quarter with cash, cash-equivalents and short-term investments of $139.4 million. 

Retail sentiment toward Altimmune stock improved following the quarterly results, with the mood “extremely bullish” (91/100), accompanied by a surge in message volume to “extremely high.”

A user of the Stocktwits platform who is bullish om the stock had a warning for shorts as the stock headed higher.

Another said gamma squeeze will take the stock to over $20.

As of 11:20 am ET, Altimmune shares climbed 18.37% to $8.70.

Read Next: Novavax Stock Slides As 2024 Revenue Cut Offsets Q3 Beat, Dampening Retail Confidence

For updates and corrections email newsroom@stocktwits.com 

Share

·

Add us on