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Altimmune, Inc.

CIK:0001326190|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
Revenues		$ 5		$ 10
Operating expenses:
Research and development	$ 18,655	17,236	$ 34,847	33,063
General and administrative	7,574	5,691	15,626	11,684
Total operating expenses	26,229	22,927	50,473	44,747
Loss from operations	(26,229)	(22,922)	(50,473)	(44,737)
Other income (expense):
Interest expense	(1,097)	(264)	(2,165)	(265)
Interest income	4,526	1,132	7,427	2,677
Other income (expense), net	(25)	(92)	(177)	(77)
Total other income (expense), net	3,404	776	5,085	2,335
Net loss before income taxes	(22,825)	(22,146)	(45,388)	(42,402)
Income tax expense (benefit)				(681)
Net loss	(22,825)	(22,146)	(45,388)	(41,721)
Other comprehensive income - unrealized loss on short-term investments	(814)	(36)	(1,110)	(66)
Comprehensive loss	$ (23,639)	$ (22,182)	$ (46,498)	$ (41,787)
Net loss per share, basic	$ (0.12)	$ (0.27)	$ (0.29)	$ (0.53)
Net loss per share, diluted	$ (0.12)	$ (0.27)	$ (0.29)	$ (0.53)
Weighted-average common shares outstanding, basic	185,443,736	81,477,548	155,121,235	78,529,028
Weighted-average common shares outstanding, diluted	185,443,736	81,477,548	155,121,235	78,529,028

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (45,388)	$ (41,721)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	6,166	7,581
Depreciation of property and equipment	46	59
Accretion of discounts on investments	(1,854)	(1,117)
Amortization of debt discount and costs	455	58
Loss on foreign currency exchange	176	30
Impairment loss on long-lived asset	1,492
Deferred income tax benefit		(681)
Changes in operating assets and liabilities:
Accounts receivable	(2,122)	223
Prepaid expenses and other assets	(2,105)	(1,895)
Accounts payable	(1,445)	640
Accrued expenses and other liabilities	(1,102)	(2,064)
Income tax and R&D incentive receivables	518	2,697
Net cash used in operating activities	(45,163)	(36,190)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and maturities of investments	107,282	143,589
Purchases of investments	(332,362)	(47,573)
Purchases of property and equipment	(53)	(10)
Net cash used in investing activities	(225,133)	96,006
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from term loan, net		14,596
Proceeds from issuance of common stock in at-the-market offerings, net	8,653	72,273
Proceeds from issuance of common stock and pre-funded warrants, net	281,400
Other financing activities	(509)	(506)
Net cash provided by financing activities	289,544	86,363
Net increase (decrease) in cash and cash equivalents and restricted cash	19,248	146,179
Cash, cash equivalents and restricted cash at beginning of period	43,802	36,968
Cash, cash equivalents and restricted cash at end of period	63,050	183,147
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	$ 1,716	79
Cash received from income tax refunds		1,422
SUPPLEMENTAL NON-CASH ACTIVITIES:
Debt issuance cost in accrued expenses and other current liabilities		$ 322

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 63,008	$ 43,760
Restricted cash	42	42
Total cash, cash equivalents and restricted cash	63,050	43,802
Short-term investments	263,273	229,696
Accounts and other receivables	3,341	1,219
Income tax and R&D incentive receivables		518
Prepaid expenses and other current assets	5,151	2,957
Total current assets	334,815	278,192
Long-term investments	192,247
Property and equipment, net	60	312
Other assets	90	1,425
Total assets	527,212	279,929
Current liabilities:
Accounts payable	1,272	2,717
Accrued expenses and other current liabilities	11,229	12,280
Total current liabilities	12,501	14,997
Term loan, noncurrent	34,742	34,287
Other noncurrent liabilities	5,761	5,753
Total liabilities	53,004	55,037
Commitments and contingencies (Note 10)
Stockholders' equity:
Common stock, $0.0001 par value; 400,000,000 and 200,000,000 shares authorized; 194,474,154 and 110,882,735 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	19	11
Additional paid-in capital	1,175,098	879,292
Accumulated deficit	(694,871)	(649,483)
Accumulated other comprehensive loss, net	(6,038)	(4,928)
Total stockholders' equity	474,208	224,892
Total liabilities and stockholders' equity	$ 527,212	$ 279,929