Altimmune (ALT) Goldman Sachs 45th Annual Global Healthcare Conference summary

Pipeline overview and value drivers

• Developing a GLP-1/glucagon dual agonist, pemvidutide, targeting obesity and MASH.

• Phase II obesity data showed significant weight loss and improvements in serum lipids and liver fat.

• Ongoing phase IIb MASH study with data expected in Q1 next year; end-of-phase II FDA meeting planned for late Q3.

• Focus on glucagon’s unique benefits: energy expenditure, lipid reduction, and lean mass preservation.

Clinical results and mechanistic insights

• Achieved 15.6% weight loss at 48 weeks, with potential for greater loss at 72 weeks.

• Observed 21% LDL cholesterol reduction and 80% liver fat reduction in high-lipid patients.

• Best-in-class preservation of lean mass, attributed to glucagon’s metabolic shift from carbs to fat.

• Tolerability profile strong: 19.9% discontinuation rate without dose reduction, lower than competitors.

• Four-week titration at highest dose, with potential for further improvement in phase III.

Regulatory and strategic priorities

• Planning to discuss lean mass preservation and safe weight maintenance with FDA at end-of-phase II meeting.

• Targeting subpopulations susceptible to lean mass loss, hyperlipidemia, and MASH for pivotal studies.

• Large phase III obesity program allows inclusion of various subgroups for potential label expansion.

• Exploring adjacent indications for faster approval and value enhancement, some potentially pursued independently.