Start here if you're new
what it is
Altimmune is a biotech trying to turn one obesity and liver-disease drug into a business.
how it gets paid
Last year Alt made $41K in revenue. Product revenue was the main engine at $18K, or 44% of sales.
why it's growing
Revenue grew 105.0% last year. That is tiny even by biotech standards. The company also reported EPS of -$0.74.
what just happened
Altimmune posted $15K of revenue in the latest quarter.
At a glance
B balance sheet — gets the job done, barely
15/100 earnings predictability — expect surprises
-$1.34 fy2024 eps est
$0M fy2024 rev est
n/a operating margin
xvary composite: 39/100 — weak
What they do
Altimmune is a biotech trying to turn one obesity and liver-disease drug into a business.
Pemvidutide is a GLP-1/glucagon dual receptor agonist (a two-key hormone drug). That means one shot tries to handle appetite and liver fat at once. Altimmune has 59 employees and $41K of revenue, so you are buying data, not sales.
How they make money
$41K
annual revenue · their business grew +105.0% last year
Product revenue
$18K
Collaboration revenue
$12K
Grant revenue
$7K
Interest and other income
$4K
The products that matter
obesity drug candidate
Pemvidutide — obesity
phase 2b · core asset
This is the main reason the stock exists. With just $41K in company-wide revenue and a $455M market cap, investors are underwriting phase 2b obesity data, not a commercial business.
core thesis
mash drug candidate
Pemvidutide — MASH
phase 2b · second readout
It is the same molecule, aimed at a second indication. That gives you another shot on goal, but not diversification — 100% of the clinical story still flows through one program family.
same molecule
Key numbers
$41K
annual revenue
This is basically no sales. It means the stock trades on trial data, not on a business that already works.
$455M
market cap
You are paying nearly half a billion dollars for a company with almost no revenue. That gap is the whole risk.
59
employees
A 59-person company cannot hide. If the science fails, there is no deep bench to fall back on.
$16M
long-term debt
Debt is small, but the real strain is not leverage. It is the need to keep funding development without sales.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
- long-term debt $16M (3% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for ALT right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Altimmune posted $15K of revenue in the latest quarter.
That is tiny even by biotech standards. The company also reported EPS of -$0.74, which shows the burn is still outrunning the business.
$15K
revenue
-$0.74
eps
n/a
n/a
the number that mattered
Revenue was $15K. That tells you Altimmune is still a funding story, not a sales story.
source: company earnings report, 2026
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What could go wrong
The top threat here is pemvidutide failing to clear the clinical and financing bar. This is one molecule carrying a $455M market value with almost no revenue underneath it.
med
single-asset clinical failure
Pemvidutide is the entire story. If the obesity or MASH data disappoints, the company has no second commercial engine to catch the fall.
With just $41K in annual revenue, a failed readout would leave very little operating business to support a $455M valuation.
med
projected $700M funding gap
An analyst projects roughly $700M of additional funding may be needed to bring pemvidutide to market without a major partner.
That gap is larger than the current $455M market cap. In plain English: dilution risk is not a side note. It is part of the thesis.
med
runway buys time, then asks harder questions
Cash of $274M and management's runway estimate into 2028 reduce near-term distress risk.
That sounds comforting until you remember what it really means: more time for expensive trials, more dependence on future capital, and more pressure for the next data readout to work.
A forced financing or weak trial result would hit the stock where it actually lives — in the gap between a $455M valuation and a business that currently produces $41K in annual revenue.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
phase 2b MASH data in 2026
This is the next real swing factor for the science. If the data is strong, the financing conversation changes with it.
metric
cash versus the $700M gap
The company has $274M in cash. Keep that number next to the projected $700M funding need. The spread is the dilution story.
trend
whether the stock can leave the bottom of its range
At $3.50, ALT is much closer to its $3 low than its $8 high. That tells you enthusiasm has already cooled.
risk
partnership signals from management
The March 19, 2026 Hong Kong roadshow matters because this story likely needs outside capital or a partner, not just better slides.
Analyst rankings
earnings predictability
15 / 100
in human-speak, analysts do not expect a smooth earnings pattern here. Clinical-stage biotechs lurch from catalyst to catalyst.
risk rank
4
Safer than only 20% of stocks. Translation: this sits near the speculative end of the market.
price stability
5 / 100
The stock has been highly unstable. That fits a company whose next meaningful value marker is data, not profits.
source: institutional data
Institutional activity
institutional ownership data for ALT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$4
current price
n/a
target midpoint · n/a from current
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