Altimmune (ALT) investor relations material

Strategic priorities and organizational progress

• Focused on strengthening the foundation with experienced management and talent for late-stage development and commercialization.

• Refined communication and positioning of pemvidutide’s differentiation for phase III design.

• Raised nearly $500 million to support phase III MASH trials, ensuring financial strength and optionality.

• Enhanced investor engagement and clarified messaging around focus in MASH and liver disease.

Market landscape and product differentiation

• MASH/NASH market is evolving toward multiple mechanisms and combination therapies due to disease complexity.

• Pemvidutide’s balanced 1:1 GLP-1/glucagon agonism and proprietary EuPort domain offer unique efficacy and tolerability.

• Low discontinuation rates and strong weight loss observed in phase II, with potential for chronic treatment segments.

• Differentiation from competitors like survodutide highlighted by lower discontinuation and balanced mechanism.

Phase III program design and execution

• Phase III MASH trial incorporates two doses (1.8 mg and 2.4 mg) and a simple titration schedule.

• First to use AIM-MASH AI Assist tool for pathology read, aiming to reduce variability and speed up analysis.

• Enrollment targeted to begin in the second half of the year, with readout anticipated in 2029.

• Study includes both biopsy-proven and NIT-screened F2/F3 cohorts for efficacy and safety endpoints.

• Long-term outcomes phase expected to accrue events over approximately 60 months.