Altimmune rises on smaller-than-expected quarterly loss
ALT•Shares rise after Q2 loss comes in narrower than expected
Shares of drug developer Altimmune rose 4% to $3.13 in premarket trading after the company posted a second-quarter loss of 12 cents per share, compared with analysts' estimate of 14 cents per share.
Earlier this month, the company said it had begun a late-stage study of experimental drug pemvidutide in patients with a type A liver disease called metabolic dysfunction-associated steatohepatitis, with 52-week data readout anticipated in 2029.
Altimmune reported cash, cash equivalents and investments totaling $519 million as of June 30. As of the last close, the stock was down 16.9% year to date.
