- Altimmune's (NASDAQ:ALT) Q1 net loss rose 282% year-over-year to $14.9M ($0.38 per share) as both R&D, and general and administrative expenses rose dramatically.
- For the quarter, Altimmune beat on EPS but missed on revenue, which fell nearly 64% year-over-year.
- R&D expenses grew $4.7M from the prior-year period to $11.9M.
- General and administrative expenses grew 65% to $3.8M.
- Altimmune ended the quarter with $226.5M in cash and short-term investments.
- In the pipeline, the company said it expects data from phase 1 trials from both AdCOVID, its intranasal COVID-19 vaccine candidate, and ALT-801, for non-alcoholic steatohepatitis ("NASH"), in June.
- Altimmune shares are up 2.8% to $13.75 in morning trading.