Summary by Moomoo AI
Altimmune, a clinical stage biopharmaceutical company, has reported its financial results for the third quarter ended September 30, 2024. The company recorded a net loss of $22.845 million, an 11% increase from the $20.671 million net loss in the same period the previous year. Revenues were negligible at $5,000, a significant decrease from the $362,000 reported in the third quarter of 2023. Research and development expenses rose by 8% to $19.803 million, driven by the ramp-up of the IMPACT Phase 2b trial in MASH and other nonclinical studies. General and administrative expenses also increased by 10% to $4.969 million due to higher professional fees. The company's total operating expenses were $24.772 million, an 8% increase from the previous year. Despite the increased losses, Altimmune has made progress in its business development, particularly with...Show More
