- Earnings call transcript Q3 2022

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Operator

Good day, ladies and gentlemen, and welcome to the Altimmune, Inc.

Third Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. [Operator Instructions] As a reminder, this call is being recorded. to Financial host Officer like Rich today's now Chief Eisenstadt, of would introduce for your conference, I Altimmune. Rich, please go ahead.

Richard Eisenstadt

and Officer. third Roberts, Scientific Harris, results Vipin Garg, Thank participating our me on the Chief Michelle, good Chief today Thank joining Chief everyone. our you, are call you Altimmune in team Altimmune's Scott call. Executive quarter Officer; conference financial our and the XXXX Medical Members of morning, for Officer; Scot

Difficulty] [Technical was question-and-answer A the and prepared company's will Following quarter Investor results we with website. release financial can the third the issued session. our section on remarks, press morning of Relations be XXXX found this

uncertainties differ forward-looking the indicated, cause under XXXX. Altimmune remind Litigation that our to could like actual Before trials we risks subject of business future would the conflict operations, in to Reform begin, of Act these ongoing those that remarks and everyone I including the safe harbor Ukraine, for Private of COVID-XX, clinical statements purposes results prospects Securities provisions impact are expectations, operations. statements forward-looking to results constitute and those on that cautions related from about and plans materially to and

company company's statements circumstances date. this read reflect as risks website. you these press our today's with XX, Thursday, a the of update direct future any the conference statement available on could results, statements speak on after the issued now For XXXX, does only that to risk cautionary this forward-looking obligation undertake November also our and please SEC. or forward-looking of on would to to factors of of filings discussion made date, or affect statements not any disclaimer and some events occur in morning release and the the contained Any today's call see that I factors the company's the and in other

be Vipin to conference that, available and this Officer now over Altimmune's Altimmune. Executive is for audio Chief being will call on will Dr. website. With Garg, recorded replay call I a As of reminder, the turn

Vipin Garg

and update. Rich, for us you, business our a financial and We you joining Thank appreciate third morning, quarter discussion results today good XXXX of everyone.

Obesity and Phase discuss about in to join And our or Harris could Enrollment we're complete comorbidities. we additional key should translated data are than primary readouts study. We shortly more to obesity subjects offer subjects readout. and Type in weight important of two trial our treatment. a ALT on at loss original driver mid-December, us this readout weight focus to our measured goal important Phase these Scott XX be approximately remains we important from advance a that the content plan weeks be serum cTX will biomarkers believed fibroinflammatory XXX of week levels. body pemvidutide XX will that X imaging absence fat a and other interim in fat the which our relaxation with the which the the will differentiates readouts were have Phase excess glucose dosing receiving of X.X GLP-X/glucagon weight, when recognized activity. drugs trial demonstrate completed regarding promising in agonist We amount indications, the NASH. is completed we week that XX important weight X of significant data of MOMENTUM weeks will subjects highlighted an fat by topline normal In NAFLD. ability trial provide hemoglobin liver effects week present safety progress with this original QX to Scott at the because analysis a lost receptor in our by its of accompanied dose pemvidutide in expect of believe XX.X% principal diabetes. on of fat XX we to the loss the week from favorable titration, to of other to liver This we comparable weeks XX body on effects the making also Xb Subjects trial those the maintain with both announce interim is as XXXX, week ALT extension AXc September. dual liver to The from liver NASH reduction. and group, of of pemvidutide, all of XX XX who subjects end serum and continue subjects similar randomization on with therapeutic Xb XX dose clinical our times, expectations less. treatment X% in half in represents into tolerability The information excited trial patients. obesity in a more products. is week for achieving significant reduction NAFLD trial readout control These a with milligram subjects, meaningful completed pemvidutide Phase and obesity also XX Harris in treatment A multicenter moment. is pemvidutide and Xb that And relative which recent glucose MOMENTUM first at in levels for trial expect planned reduction differentiate population content for

of our established its study Phase of against subjects Finally, HepTcell and treatment the HBV antiviral B trial that XXXX. we effects multicenter second a hepatitis with in half Recall combination designed to therapy have data for enroll this role in this evidence and X readout disease. is show in potential the of expect to to continuing chronic of inactive important are

the will discuss trials. progress and the our pemvidutide are results I our excited Officer, -- that, We of clinical Medical these Dr. plans. Scott to Harris over and to turn are we ongoing upcoming data about about the and With now HepTcell call of Chief Scott?

Scott Harris

good Thank morning, Vipin, you, and everyone.

of of the results was American the review Diseases that trial at as and November briefly Washington, the Phase meeting NAFLD annual a abstract data Xb Liver by breaker additional D.C. Association me our for in late the presented X. Study of the on Stephen Harrison, Dr. let First,

noted, by week therapy, liver of weeks or late Harrison and X% a or predicted of serum, As imaging accompanied a in fat relative group greater an in cTX less. activity biopsy with new clinical success pemvidutide at liver trials cTX week subjects translated achieved normal relaxation Dr. XX into of conducted. endpoints in in reductions of clinical more achieving pemvidutide fat These each or times data the in stage XX aminotransferase, in are parameters is which liver measure of dose participated inflammation. elevated score received millisecond when were XX at the fibroinflammatory liver that have more achieved promising marker Reductions a corrected hepatic TX a who presented likelihood who half of cardiovascular correlated sub-study has dose. XX reduction than was cTX content effects studies. these those high of and milligram reduction on been at cTX alanine significant XX.X% a an at events fat and in hepatic XX% X.X content Vipin subjects than of

the biopsies. millisecond correlate of well on shown add XX hepatic and NAFLD outcomes We further a in these of the to has as point biopsy findings cardiovascular likelihood reduction two on to believe events conducted. are reduced with endpoints, activity improvement been as success Specifically, liver an score when likelihood trials

mid-December, or NAFLD their of multicenter or XX trial. Next, in an of of placebo weeks trial XX XX subjects for talk X.X subjects pemvidutide trial into milligrams, our X.X an XX-week XX have assigned extension treatment either week milligrams, our Xb therapy. XX milligrams of remained that XX% NAFLD additional double-blinded to original or approximately rolled rolled week about -- let of placebo. a subjects from trial Phase of pemvidutide this respect me original upcoming this X.X weeks Phase with with in over the to of The extension receive the in total readout NAFLD over Xb to

in relaxation and The events, XX data readout consolidated adverse treatment the cTX December and the as in NAFLD readout readouts. fat ALT, and the pressure blood trial will continue original lipids, rollover also with content efficacy study time, primary the subjects on As with serum events, pleased including and include this measures XX% diabetes. we trial stratified tolerability principal the to week AXc, had leading We of be reduction initiated discontinuation. The weight after liver inflammation with readouts safety hemoglobin report rate glucose, liver into heart and we rate fasting pemvidutide, without loss, commenced, of trial. including for and to the well are adverse will enrollment

XX% The respectively is XXX composition or BMI, approximately the Hispanic in to of approximately as X.X randomized to ethnicity. trial per These demographics pemvidutide approximately in me MOMENTUM non-diabetic were in talk sharply median the study overweight designed female index, XX% least of subjects (ph), enrolled XX XXX fully body the X where obesity. XXX X administered Phase with comorbidity. subjects ethnicity and subjects XX% with of of pemvidutide population one and in X and of XX approximately and fat participating median to milligrams with about of approximately median population content milligrams milligrams, sub-study. the body was X.X weight of weeks to approximately meter squared of with approximately let or conjunction measured kilograms were the Xb contrast X.X the Subjects kilograms are for Baseline trial and population weekly XX and Hispanic in Phase content obesity study exercise. placebo X% characteristics trial to approximately NAFLD subjects the diet at include X body mass was week Now enroll fat X XX%. of The study

approximately Aronne readouts MOMENTUM XX profiles, Weill authority multicenter School, as weight is an Dr. Phase a Cornell measures trials. employs unlike and study serving addition, leading principal as weight body first XX in the body in variations treatment endpoint enrolled primary including metabolic could investigator. percent obesity XX may interim drugs population the population be are additional loss X those the our in standard demographics readout as weeks Medical occurs. consistent a It NAFLD of after the to should relative lipid study end the Cornell and compared clinical of the the with expectation class to participants -- the be obesity changes trial, Phase noted at MOMENTUM perform assess result the glucose that change quarter trials level cardiovascular the It of achieved for on in and homeostasis. baseline that In weeks study when interventions and from trial XXXX. to leading patient of Lou of plan is weight We obesity enrolled, study obesity from the characteristics, a The XXX is fully at analysis of in trial the in of differ interim therapy. of lifestyle Xb with weeks the that endpoints

and that benefits with XXXX these trials trial pemvidutide in titration XXXX. weeks pemvidutide readout enrollment We incurred safety including content I over subjects evaluating rapidly be profile by lipids demonstrated XX and or approximately pemvidutide, drugs expected obesity end receiving the Across building the outcomes, unblinded pemvidutide XX of blood of the X have of Phase fat at the readouts. also the greater multicenter over reduction by with serum of potential glucose other that of improved positive tolerability and translate surrogates the first cardiovascular planned we dose one X lipids, of diabetes therapy, We've end Type effect that cardiovascular data in and described, believe in XXX are subjects XXX are should more in doses control quarter completed in in XXXX. safety clinical We in believe on year absence our final into greater ease subjects year of serum believe space. pressure, hepatic with and a will Approximately trials also subjects differentiate from treatment. an administration, We adherence of profile could for to benefit. hepatic

expect quarter progress making Phase acting being antivirals are infected population HepTcell of financial the also patient in XXXX. combination this of enrollment B. to the also HepTcell results in are second -- third continued Eisenstadt in I'll HepTcell the to our are the direct with of effects on to enable with Recall multicenter virologic half now out and call combination the in subjects inactive read part the Rich? hand of being over hepatitis for of clinical to novel evaluated We give chronically trial update of our X results. as an B chronic Rich therapy trial of hepatitis

Richard Eisenstadt

good and Scott, everyone. you, morning again, Thank

and Altimmune's XXXX our to a today. financial of be information update today's ended comprehensive with quarter results. third on approximately $XXX.X For I'll million More Form SEC of in term at million the XXXX. be later down equivalents brief providing months cash the approximately three short ATM cash, filed proceeds XX-Q of third ended We call, the the during investments, XXXX off available million to net in Altimmune end will XXXX. quarter compared $XX.X drew September with of $XXX.X XX, our be

minimal Turning of period to XXXX XXXX. $XXX,XXX revenue the in quarter in the in compared was the third income statement, to same

million XXXX. were programs, development XXXX the of direct activities direct the quarter XXXX. T-COVID quarter expense third for for in months of or period the three of per million expenses XXXX of million change September General period $XX of loss loss R&D share due this for as million to and and development the related quarter loss programs $X.X million in $X.X million to ended in related for in third costs HepTcell. compared the of $XX the increased activities clinical for were Research of costs approximately development expenses total to campaign. expense in of $XX.X stock share AdCOVID our expense. $XX.X third were million for XXXX the in was to activities net year-over-year $XX.X out compared XXXX. earlier of Approximately and discontinuation pemvidutide quarter Net was development close same quarter expenses net to third the and the for for compensation in million NasoShield in to in direct primarily or administrative million $X.X for including $XX.X conduct to Our the revenue was $XX.X XXXX to XX, the included $X.XX quarter attributable primarily XXXX, increase compared the per third $X.XX in same The million XXXX.

not now clinical operate ongoing over existing Our second XXXX. turn we Vipin? our is half trials, of us sufficient funds our us allow I only to all back closing that Vipin the to to estimate remarks. into will of where cash cash the for through his currently call

Vipin Garg

take procedure? to audience on Operator, you, our that the you lines Rich. questions. instruct Thank we Could like concludes open formal please and remarks the to Q&A would the

Operator

Thank you. Seamus question Our Fernandez from first of comes with [Operator the line Guggenheim. Instructions]

Your open. ahead. line Please is go

Seamus Fernandez

Great. Thanks so much for the question.

us ask, just in patients in So, patients what portion the study. were XX be of the to really the wanted XX were extension of to that if going you guys the weeks that -- help the are understand could of characteristics --

meaningful were the do if at the of dose differences the in so have And to to, So the for or levels regard bit those you that provide And little overall Just want a of differences context? any data XX get patients us were study? in XX if patient in can of population? head with information populations. particular? there any full versus data there set you week data of the forward, fact kind increases first XX real the patient HbAXc data understanding and better just we NAFLD then in we question, in change no some the for in week into the that And base of XX-week saw we NAFLD second characteristics as the as patient a in advance population the any

over sense about are guys so much. are time? product we of patients improvements get see to better HbAXc you a as don't Just if in Thanks trying profile of the the thinking how treated

Vipin Garg

Scott?

Scott Harris

Thanks Hey, Seamus. Yeah. question. for the

this what you. is I trial. position original there don't entered no the in population And I subjects comparable But hemoglobin that to the been have I that feet, there XX. that was XX,XXX clarify, have tell data rollover, can the the I at from has AXc. specifics initial XX week our but XX% study you has you for immediate of think been Just change don't time. rollover actually number to that for was

was in of change individual any when there deal we at And numbers. great AXc. plots, variation seen hemoglobin we to a think all in due looked haven't I all, small

position in on our have year. our we it's there no that when XX change. committed We'll diabetes weeks, first quarter the finish at So information that this of study further XX week was

the because would see always time a But that a XX points. would we and position weeks concomitant with that changes Our in expect improved change hemoglobin been that's as we overtime has at loss. to we see not weight on improved AXc see been of time insulin why the future And fully sensitivity occurred that glucagon weeks, the weight activity, that to XX hadn't see period we effects had AXc hemoglobin which is case X GLP that it. of over loss the to incretin opposing retrospective weeks with wouldn't when base always

Seamus Fernandez

then quick Great. maybe question. And just a follow-up

XX this understand terms given these the good just if ends characteristics hispanic particularly the is is different loss you from of comparable. you weight your perspective? what XX% perspective, from Can patients with think over a Just weight loss quite, guys population up guess, in a a being think Thanks. patient in patient characteristics baseline substantially the what In expectation result of of us result fat I metabolic and a liver wondering good patient patients help that particularly population? population you

Scott Harris

of Hispanic been ethnicity, factor population fat. the of reduced population diabetics, the MOMENTUM to hit various distinctly where nail very that expect has And is population that is you has by don't the prevalence four. continuing times And studies. the amount also a different liver them there in of on clear in fairly NAFLD This head. been it's important shown And of you think, extension diabetics, X they're not the I from trial like with the ill metabolically metabolic, the a Well, trial. lose then It's over a that's weight. or that a obesity population impact whether and from very they're

our see So what MOMENTUM, fat. really stands primary loss predict weight in see a not we but study was to weight, is what have we'll it's gauge to in we're be liver in look suited and to at not that was loss, look that for reduction it what extension readout that loss weight which of we suspect to has study and reduction loss. weight although, we that improvements to weight And think this NAFLD not of going liver study we continue alone. a seeing We are being at it's

Seamus Fernandez

drop guys. I'll back in you, Thank queue.

Operator

you. moment next comes from one And our Sandler. Rahimi the question. next Thank Piper with for our And of question line Yasmeen

Your line ahead. is Please go open.

Yasmeen Rahimi

Good both your Maybe answer color on those a morning, the again two. team. on going help it's for any week for love Thank glycemic in you me drug some XQ on Phase from comments read three on and questions, would questions Help be, going given start this so the of we pemvidutide to Do I understand And that that be gain placebo? in So this part effect? to -- for chosen had behind understand thank hear reasons will how 'XX. our many to one the extension, very questions. think and much there you and definitive really to the XX the morning. the will on excited of So Few give sort Xb diabetes next how then, patients I'm is, hope many to to us that? XX be out get that's can XX-patient who study? on, then, study the data for you you detail updates. and first part noted terms one patients for and may that you you us question off taking you, I'd what have And of continue will the you you're of the not were patients to when

Vipin Garg

Yeah, Scott?

Scott Harris

Yasmeen, thanks questions. for Yeah. the

let So one-by-one. me take them

data. We have the XXX not unblinded

I patients each continued have which So can't tell dose. at you

on no have We information that.

reasons continued discontinued, XX realize XX getting their up you coming of at undue XX recruited give each in that but the snapshot Generally, don't per success, of clinic dose, or for discontinuation a weekly not the Remember, discontinuations. versus, rates a into of group they're to So of continuation the administrative, patients you burden. reasons the weeks have weeks. They And for week were would that placebo I how ability. can't study. have weeks, were people weeks patients an regardless the the patients for to an -- or weekly come additional the said, many XX XX be an I simply the additional much

and also study late So have the to so people access study. -- some started just the didn't

to reasons or by chose non-efficacy it not reasons due large, and that So people to non-safety was continue.

there's the that the the adverse and that pemvidutide accrue been is base in glucose in study forward year, on study to We no Regarding patients not blood case. Phase X first sugar to quarter safety. primary effects that serum of objective The the do demonstrate the read need more show control out going of we'll is of and the show aim that's AXc our change. to that hemoglobin

in the will to durations But Phase to hemoglobin the treatment or longer the that's AXc additional conducted that of see drops. beyond be that's initial in Now study trial. the planned weeks XX X likely future, objective looking the studies at

Vipin Garg

non-diabetic sorry, MOMENTUM just study study. is the to And XX-week everybody in XX that Yes. remind week,

the for so that's with it's study. that study, separate have can diabetes. So And that's that in important subjects why really we at to specifically look reason

Yasmeen Rahimi

XX And team, the just BMI that kilogram, that the could XXX If one or clarify I appreciate the population for would clarification. the be details is and baseline the it back the you quick kilograms Great. into the MOMENTUM, then, for that XXX I'll us demographic and distribution, helpful, just total queue. is gave jump patients? for you

Scott Harris

for to have it's that demographics I that it. the repeat likely, shift and interim it population may differ. would entire let analysis. those tried of of next first on four of possible possible. of That's to opening the the first in course to it's suspect the But for what it don't but We're going We remarks that months to it today we We that bring my we're demographics going population. you population. Yasmeen, information it the when out way generic of We're question. read the of first clear in can or because these bring part tried -- saying over subjects enrollment that a out my study great or characteristics of a specific so the five have That's demographics the to XXX of Yeah. the months that it's they are study year, patients the in the but that read the course make over We're XXX may out trial. so we they're differ not slightly. saying not announcing quarter are vary exactly me

Vipin Garg

difference to But stark that significantly population. say that NAFLD And making here we've the very have been population point the and obesity had that it's study we we really larger between the Hispanic that's population. fair a

the -- can liver being this you study is course, the the liver traditional conduct feeling itself, numbers, see difference, more which centers. study in a As obesity content. a of to And from obesity the different the about a is whole reduction conducted compared is of same fat fat huge at study. study, The thing with

Yasmeen Rahimi

Thank color. for so helpful. team, you Very the much,

Operator

next with moment question. Evercore next Bayko our And from question you. line of comes the for Thank our Liisa One ISI.

open. is Please line Your ahead. go

Liisa Bayko

taking for Thanks my Hi. question.

terms the set? right of weight give just update, to or be sorry, readout NAFLD like the the obesity, the nature us Are to in expectation the expecting expectations? for you linear can your you what's all, of kind in next reduction First of

Scott Harris

to no loss will and traditional the for high to linear react of will liver be And fat trials. not expect to of or don't think expectations the we the different probably the that's MOMENTUM. the weight. how We're MOMENTUM information Liisa, this There's relevance The increase. know results weight any population and loss study. weight We from Hispanics, projections in know the population what This going the making about prior no studied study loss combination Hispanics it's to linearity because different. high is. is been linear. we date very lose bears very trial, is so the MOMENTUM it content highest that weight predicting about study We just

Liisa Bayko

obesity and or would then expect of should an a like expect changes that weeks? XX couple at have? exercise diet -- the of percentage for study, you MOMENTUM we And Okay. kind Like, lifestyle effects to what the of points and impact to the Is what that be

Scott Harris

Yeah.

trials and and loss the STEP around trial So SURMOUNT typically, XX at about out peaks weight And trials. then across I'm the to say, course over trials or itself looking week of maintains weeks. other like X% the the XX the

Liisa Bayko

in the a this as Okay. should loss study, study take what or -- diabetes from sort the of kind think will week of XX efficacy And through safety then for we this of about should weight of thinking study, be kind of this study terms read how the to we components?

Scott Harris

weight being a is trial. the it again, conducted diabetes Well, safety once about, of kind to diabetes as just like not a trial, the being NAFLD loss we talked as trial that study conduct

really obesity that on now. trial us that on that trial not not in a a we're readout but provide we're give conducting that relying committed right We diabetics. So think would trial to diabetics answer,

Liisa Bayko

Okay.

for me you. Thank now. that's think from it I

Operator

Thank next our you. one question. moment for And

question Mayank line from next of with Mamtani Our comes the B. Riley.

ahead. is Please line Your open. go

Mayank Mamtani

progress Thanks team. taking morning, for on our and question Good ongoing with congrats the three trials.

maybe your expectation. just data clarifying about the So MOMENTUM comments a question for

just when the with or emerging even just data. loss latter may glucagon of leaders, some to getting to high-teens as incretin the even directed bar for clarify, elevated therapies months, know, you weight broadly the be you six for So because class mean say you

just weight MOMENTUM? molecules want of loss sort clarify So your I for of look to landscape think about what like you when

Vipin Garg

about wave Mayank. if loss, the weight first look, Well, good look a at progression That's you question, of Yeah. XX%. incretin the of had

Now we are XX%. approaching

cardiometabolic is that only the be that for space health Ultimately, very will are profiles their component multiple So approved to not tolerability, to that to lipid really value what ease profile, going approved Ultimately, improve in of there's ballpark are multiple we is be and talking products we're marketing and but weight trying administration, be the depending proposition, that, here. going loss to important. we about it's it's going overall of then about. be believe overall this all safety, upon important, drugs

will that going heterogenous we're be of leading need population you there So weight you to then that would to drugs Scott, that what the of mean subjects. we be find that's the ballpark physicians, options patient look It's multiple a did in? very these in drugs and a want multiple other are all we have loss. when at is there going jump to to treat place. But doctors think terms to characteristics, in of

Scott Harris

Yeah, Mayank.

mix. on think there's on weight been being loss. referring now Amgen, very to came in them presented bariatric excellent as have surgery. that, initial that And really I from weight and are might be congratulate impressive approach compound the information of data was results And you drugs to a that that can some in recent out starting and we losses the shows note the we took where

group it's they the about of relying that are and GLP-X, drugs, have mainly absence lipids, happy up therefore, to serum reductions so weight the with they a a because and GIP not meaningful to that that on to and GIP And We be of approach antibody sufficiently than of loss. meaningful We effects mechanism effect that have with and know know that and that in do full on specifically going the coming new of combination. lipids. effects outcomes think We hepatic they stress that that. less cardiovascular explored. to don't don't been on approach are we action GLP-X be We want achieve hasn't about drug

with their we're And specific regards data that GIP that women with in health, prevents and human particularly compound, to a effects with results long don't that, seeing And of a But week snapshot think action, limited we XX know that's problem safety point time at more GIP only known particularly there's in the with finally, with of on is not the who put resorption efficacy, new in still drugs. we So mechanization had deleterious that, stress known. on those obesity in a bones. long-term giving bone humans, about not range. against that antibodies you're term bone women, it's now the

see and to in be action, and the long lot going So mix a for has congratulate of safety I known we're we We're up. particularly in on that term more There's glad side. mechanism think loss about up weight bar the results. the be happy them to that the that to

Mayank Mamtani

That's I very And in then month's you. we'll the And you clarifying and learn both NAFLD a questions Amgen. on time think more of from Thank helpful. just diabetes quick studies. the a couple and

many for the placebo? fair assume the And be kinetics numbers responders, most and readout? patients weight it we that is liver XX on you crossover have loss liver that may I'm primarily curious patients for what So Should just XX week of of focus mean means to placebo-adjusted which may not in in would enzyme? fat that

Scott Harris

reductions just Yeah. Mayank, just ALT that in reduction cTX right. don't me have I of terms kinetics, emphasize the the But excellent. highlight at outcomes question. liver and the I reduction of again, in it times we're in to right. because by fat. this fact I the the like of markers that And wish was want liver I were was of the were that conducted data, blinded, many could study MR to excellent, answer And good reductions fat scanning, in accompanied let And once look

for to is very, do we observe of of readout trial. mainly loss. very went So what NAFLD we a Southwest loss weight study, liver out United This ethnicity came the Hispanics Mexican fat that was can States, primary high the and origin of of not weight the population the in is part should a trial. which we Yes, out recruit with

We saw in semaglutide loss on adjusted a we placebo trial with was weight commensurate first that that the basis. the happy with are

populations, that, happy of we're quarter but amount investigators this one or there on to in emphasis branding of loss, no they really very in differences the to of great the on we're with trying with and with the the obesity kinetics see quarter one loss of kinetics obesity the population, patients in population of in trials dedicated of patients, kinetics weight amount fat the translate Hispanics. loss, being even we're the with because way the emphasize no communication no was study on nature that or in the going weight So liver weight don't very the conducted study the weight the to -- that dedicated to that loss patients,

Vipin Garg

such terms liver you fat you relatively further liver improvement already significant we've week, we've that Yeah. reduction but improve fat reduction would as just -- that gotten in reached occurs XX might add in some, reduction, in -- fat as of from anyway. you know to quickly a liver I a going that that such ALT XX improvement already week

first just sure, achieved in liver reduction fat have already to be So significant XX weeks. just we

Mayank Mamtani

cash you. taking And thanks clarify Phase include And guidance questions. you that? does for one considerations biopsy possibly NASH next of quickly, Thank starting maybe year? for Can our again a any just you study X the runway Rich

Richard Eisenstadt

Yeah.

the money obesity for get expectation be ready for to we'll and/or Phase NASH. is X So and/or spending

Phase have campaign cash So we a full obesity. clearly don't X the complete to for

both are indications. but haven't which going, started which can we either So we get necessarily those designated of really direction, or dollars in

Vipin Garg

Yeah.

is for Phase ready lines ready working time NASH already obesity. are goal will those so Our be on X to place. together in be The we and for plans putting both Phase different, X

For NASH, Phase we X of next ready should year. be second the by quarter for

for for execute can we'll not so. obesity, And that trial we be for we we'll in XX of XXXX. data, to first Phase if that the the execution and do wait to ready week X that, of decide So half

Scott Harris

Yeah.

the we specific, trial or from before be not see readout would the Mayank, obesity. trial start any to Just NASH NASH we interim

Mayank Mamtani

Okay. clarifying that. Thanks for

Operator

next our And for one you. Thank question. moment

Wolleben Our with next Securities. JMP Jon comes from of question the line

line is go Your Please ahead. open.

Jonathan Wolleben

Hey. Thanks for taking couple questions. the me. for A

was line tracking first loss in blinded weight commented with X MOMENTUM previously the the study. Phase You for that

then diabetes was And that's on HbAXc key secondly, update you I wondering the if over on glucose. So serum you here time? and us mentioned Scott, study, could looking is the how

if wondering there. here? little hoping that clear is acceptable? Just more a there's a Just on any any change specifics bars are more worsening specific for negative Thanks. levels Or

Scott Harris

Yeah.

your the excuse was to study that one talking snapshot comparable at of time point first I'm the about in the So done first XXX, But Australia. and NAFLD snapshot a MOMENTUM human the in the trial. me, was question, that data took regarding we single Jonathan, time points the in

not over weight blinded time. have curves loss been We following

you. that data. have So to don't data I can't We communicate that

quarter, hemoglobin readout we'll the study study. the diabetes in that in AXc yes, Regarding it's and glucose first the a the safety it

has position, that of these be always glucose not maintenance been We expect Our there changes. patients. base in don't be our that position we'll continues that any will any control to worsening. And see

Jonathan Wolleben

That's you. helpful. Thank

Operator

with for one Patrick Wainwright. you. our from next next our H.C. the line comes And question. And question of Trucchio Thank moment

Please open. go is line ahead. Your

Unidentified Participant

is [indiscernible] on This for and Hi. Matthew I'm today. Patrick

question in And to in others paradigm? my is So treatment in first you the would you situated it NASH, can and potential regarding to be NASH the field? the envision going pemvidutide it for how compares discuss emerging where

Scott Harris

Matthew. now The that reduction and compares every you, we to better to Well, liver best is been seen till our has -- thank Well, fat data that think think any comparable ways. we we efruxifermin, some up have, least the data to in with at that drug.

resolution there's trials. improvement that in fibrosis endpoints NASH and in fat liver phase strong on success literature a late reduction So translates to

and with accurate period active in trial, he's phase was of shorter and best reduction, effects we've Stephen seen when the is program that now we development. would we've me, seen probably the be of because -- fibroinflammatory corrected the also of if outcomes. would comparable that will comments same, predictive magical Harrison better this time success reductions cTX data the activity, that from strongly in going, biopsies. cerebrovascular drawn activity that the markers very improving exact allow not in see at that's cTX same this outside achieved suspect It's data, and seen the the MGM of as So marks to fat late-phase that It was liver we levels changes that And previously was and by the a seen NASH or at the and with from like data. way maps cTX the now activity you accompanied non-invasive very important field with the a inflammatory yet received plaques. activity, But to of KOLs predict data in inference are of also liver if ALT inflammatory inflammatory very NASH, cardiologists of TX coronary data, the looking of have cardiovascular in they've appeared

the disease, necessarily and the meaningful cardiovascular loss So NASH liver phases that excellent. but have think weight comparable we weeks And principal these reductions fat very fat meaningful reduction with people. we the as into approximately only and fibroinflammatory in weight have seeing And thing not good time. which compounds but in effects, in current people loss. with the the our half NASH morbidities at really levels that are of was at in NASH not what trouble and We're about was of I least effects, positioning and do in is don't of our believe liver double one a at is of are the have, especially one that I XX they data trials, it efruxifermin, early in X.X%. for these other being activity NASH overweight, gets about is The weight is in similar levels loss

point drugs and of of the of I in reduction plus we stand activity, of activity inflammatory alone in fibroinflammatory reduction, holistically, liver spectrum weight, reduction the the from view think So, that fat NASH developments. meaningful

Unidentified Participant

next of I Perfect. appreciate a profile tolerability Thank and is discontinuation pemvidutide, question the the discuss far, The and then the compare is to does you. been so had that then particularly be that. expected in others it's seen in program? -- one you rate dropout rates you've what And the I how MOMENTUM the has can follow-up to on safety or field? that

Scott Harris

Great.

trial of the zero first see zero about what milligrams, you events, the at you adverse milligrams, quote about about NAFLD X.X human -- X% for can were of in was and X.X I rates would X.X discontinuation in X% trial, other it which percent percent in half So milligrams and our in at trials. what

rate in seen I but we've us. course, trials. seen typically, trial, dropout conducted, you know that's look But trials trials have the recent obesity way MOMENTUM is rates. the be and we that very, the cannot completed. dropout you have concluded, weeks rate the preceded that's the the dropout by But the the other are that trial in until trial that, those -- the in of very in at in range If that the rates more the high XX% about seen in trials, the dropout we've been with won't time XX will tell of MOMENTUM improvements range is

Unidentified Participant

one you. Thank have I more. then Great. And

Following with combine the AASLD, I'm the mechanism antiviral for which emerging prefer of wondering Altimmune HepTcell terms program? if would a to preference you in is

Vipin Garg

Scott?

Scot Roberts

Hey, Roberts. Matthew. This is Scot

there. B. they're in to out algo-based I characteristic of the know, there's that You release probably hepatitis I approach and suppression that's down the options the general, antigen or Those surface most knock RNA-based chronic make sense. begin number the whether of immune that But a is think think

responses hepatocytes. types You can imagine respond, a in beginning the agents scenario come and that help where being and of up expressed we first. those then boost antigens used with HepTcell decreased, those T-cell are are in antigen wake and to the responses is against Surface are

at issues straightforward think to look there's looked have that. But the most some think schedule ways a approach. number I probably be So that probably of to I that's There's conceptually, at.

Unidentified Participant

it. I appreciate Thank Perfect. you.

Operator

time. the I'd conference to turn this Vipin for further Garg And further like you. remarks. back questions no any And showing I'm to over Thank at

Vipin Garg

continued you, this everyone for you Thank your interest. day. We appreciate participating for a you to share nice our results and and opportunity Yes. today. Have with outlook thank

Operator

concludes for today's participating. presentation. Thank you That

disconnect. may You now

Altimmune (ALT) 10 Nov 222022 Q3 Earnings call transcript