Revenue: As of FY2026 Q1, the actual value is USD 0, missing the estimate of USD 1.11 K.

EPS: As of FY2026 Q1, the actual value is USD -0.18, beating the estimate of USD -0.2479.

EBIT: As of FY2026 Q1, the actual value is USD -26.08 M.

Cash and Investments

Altimmune, Inc. reported cash, cash equivalents, and short-term investments totaling $332 million as of March 31, 2026, which increased to approximately $535 million as of April 30, 2026, reflecting net proceeds from a $225 million public offering . As of March 31, 2026, cash and cash equivalents were $97,601 thousand, and short-term investments were $233,939 thousand .

Revenue

Revenue for the three months ended March 31, 2026, was $0, compared to $5 thousand in the same period in 2025 .

Operating Expenses

Research and development (R&D) expenses increased to $16.2 million for the three months ended March 31, 2026, from $15.8 million in the same period in 2025, primarily due to ongoing AUD and ALD trials and startup costs for the PERFORMA Phase 3 trial in MASH, partially offset by decreased expenses from the completion of the IMPACT Phase 2b trial in MASH . R&D expenses included $9.5 million in direct costs related to pemvidutide development activities for the quarter ended March 31, 2026 . General and administrative (G&A) expenses were $8.1 million for the three months ended March 31, 2026, up from $6.0 million in the same period in 2025, mainly due to increased severance costs and professional fees . Total operating expenses for the three months ended March 31, 2026, were $24,244 thousand, compared to $21,820 thousand in the prior year period .

Profitability

Loss from operations for the three months ended March 31, 2026, was - $24,244 thousand, compared to - $21,815 thousand in the same period in 2025 . Altimmune, Inc. reported a net loss of - $22.6 million for the three months ended March 31, 2026, compared to a net loss of - $19.6 million in the same period in 2025 . The net loss per share was - $0.18 for the three months ended March 31, 2026, compared to - $0.26 in the same period in 2025 . Comprehensive loss was - $22,859 thousand for the three months ended March 31, 2026, versus - $19,605 thousand for the three months ended March 31, 2025 .

Other Financial Items

Interest income was $2.9 million for the three months ended March 31, 2026, up from $1,545 thousand in the same period in 2025 . Interest expense was - $1,068 thousand for the three months ended March 31, 2026, compared to - $1 thousand in the prior year period . Other income (expense), net, was - $152 thousand for the three months ended March 31, 2026, compared to $15 thousand in the same period in 2025 .

Balance Sheet Highlights (as of March 31, 2026)

Total current assets were $334,676 thousand, and total assets were $335,630 thousand . Total current liabilities amounted to $11,323 thousand, with total liabilities at $51,643 thousand . Total stockholders’ equity was $283,987 thousand .

Financing Activities

In January 2026, Altimmune, Inc. completed a registered direct offering, generating gross proceeds of $75.0 million . In the first quarter of 2026, the company raised $8.9 million through its At-the-Market (ATM) facility . An oversubscribed public offering in April 2026 yielded gross proceeds of $225.0 million .

Outlook / Guidance

Altimmune, Inc. plans to initiate its global PERFORMA Phase 3 MASH trial in the second half of 2026, with 52-week data anticipated in 2029 . Topline data from the RECLAIM Phase 2 AUD trial is expected in the third quarter of 2026, and enrollment completion for the RESTORE Phase 2 ALD trial is also anticipated in the third quarter of 2026 .