Altimmune (ALT) Jefferies 2024 Global Healthcare Conference summary

Recent program updates and clinical progress

• Completed phase II study in obesity; preparing for end of phase II FDA meeting in late Q3 to define phase III path.

• NASH (MASH) phase IIb biopsy-driven trial is recruiting; data expected in Q1 next year.

• GLP-1/glucagon dual agonist designed for both obesity and NASH, targeting patients with dyslipidemia and high liver fat.

• Partnership discussions ongoing, aiming for a partner before phase III obesity trial enrollment.

• Cash runway extends into 2026, supporting upcoming clinical milestones.

Differentiation and clinical features

• Pemvidutide has the highest glucagon ratio among GLP-1/glucagon dual agonists, maintaining glucose control.

• Demonstrates significant reductions in liver fat, serum lipids, and preservation of lean mass.

• Superior lipid reduction (3%-5%) compared to GLP-1 monotherapy; improved body composition and tolerability.

• Designed for both non-diabetic and stable diabetic patients with obesity and MASH.

• Focus on long-term weight loss maintenance and safety, with glucagon aiding in lean mass preservation.

Conference highlights and competitive landscape

• Presented three studies at EASL: biomarkers of histologic response, computational modeling, and lipidomics data.

• Biomarker data show statistical significance in fibrosis prediction and NASH response.

• Computational models predict superior fibrosis improvement versus GLP-1 alone.

• Lipidomics data reveal significant reductions in inflammatory lipids linked to NASH.

• Competitor analysis: tirzepatide’s liver effects are indirect and less robust; survodutide shows efficacy but poor tolerability.