Altimmune is a clinical-stage company developing pemvidutide, a GLP-1 and glucagon receptor agonist for MASH, alcohol use disorder and alcohol-associated liver disease; it is not approved.
Altimmune's case rests on investigational pemvidutide, a GLP-1/glucagon agonist, across liver disease and alcohol use disorder. IMPACT supported MASH resolution, but fibrosis improvement was not statistically significant at 24 weeks. PERFORMA began in July 2026, with 52-week data anticipated in 2029. Positive RECLAIM results support pursuing an AUD regulatory path; RESTORE could add ALD benefit. Cash and investments were $519 million at June 30, 2026; management now describes the MASH Phase 3 as funded.
Thesis checklist
0 risks need attention
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Next decision point
Tests: FDA agrees a path in alcohol use disorder
Does FDA support a practical registrational path for pemvidutide in alcohol use disorder?
Strong, inconclusive and weak outcomes
What to look for in the result and how each would move the checklist
Price and material events
Select an event marker to read the update below. Marker colors show Thesis status.
Pemvidutide advances across MASH, AUD and ALD; fibrosis benefit remains the pivotal question
Pemvidutide's Phase 3 PERFORMA readout will determine whether BTD-backed MASH efficacy translates to registrational success in a crowded field
IMPACT Phase 2b primary endpoint met
About this history: every entry shows when the Thesis moved and what it said. The reasoning behind each move (the evidence, the analysis and the source filing) and the earnings write-ups are part of a subscription.
Dates, trials and completed outcomes are open to everyone. What each upcoming milestone hinges on is part of a subscription.
Disease areas: Psychiatric disorders, Liver and digestive diseases
Catalyst calendar · Upcoming FDA decisions · Thesis changes
Competitive landscape
3 peers tracked
Cash: Market-data provider estimate; measurement period unavailable.
Debt: Market-data provider estimate; a complete comparable filing balance is unavailable.
Quarterly burn: Estimated from trailing free cash flow; measurement period unavailable.
Net cash and estimated runway require verified matching measurement periods. Missing debt components are not assumed to be zero.
Runway: No underlying guidance available.