Altimmune tumbles on planned stock offering to fund liver disease drug

Altimmune

22/04/2026 21:45

** Altimmune ALT.O shares down 15.6% to $2.93 in extended trading as it plans equity raise to fund late-stage trial for its liver disease drug

** Co announces offering of stock and warrants without disclosing targeted deal size

** It intends to use net offering proceeds for upcoming Phase 3 trial in metabolic dysfunction-associated steatohepatitis (MASH), and other purposes

** Co's lead drug candidate, pemvidutide, is GLP-1/glucagon dual receptor agonist for treatment of obesity and MASH, a serious liver disease that develops when fat buildup causes inflammation of the organ

** Leerink Partners and Barclays joint bookrunners for proposed offering

** Gaithersburg, Maryland-based ALT has ~130 mln shares outstanding for about $450 mln market cap

** Stock finished up 1.8% at $3.47 on Weds, trimming YTD loss to 4%. Stock is well off its 2026 intraday high of $6.44 hit on Jan 23

** Of 11 analysts, recommendation breakdown is 9 "strong buy" or "buy" ratings, 1 "hold" and 1 "sell"; median PT $21, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))