NASDAQ$ALT

Altimmune Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Announced financial results for Q4 2020 and provided a corporate update.

Altimmune reported a net loss of $49.0 million for the year ended December 31, 2020. The company's cash, cash equivalents, and short-term investments totaled $216.0 million at year-end. The company has made substantial progress in each of their five portfolio programs.

  • Enrollment in the Phase 1 AdCOVID™ Clinical Trial has commenced.
  • Development of AdCOVID vectors targeting emerging variants of the SARS-CoV-2 Virus has begun.
  • ALT-801 is progressing through the Phase 1 Clinical Trial.
  • The company is solidly capitalized to advance pipeline candidates with $216 million in cash and short-term investments at year-end.

Headline financials

Total Revenue

$2.31M

Previous: $576K+301.7%
EPS (adj)

-$0.17

Previous: -$0.25+32.0%
Cash and Short-term Investments

$216M

Previous: $37.2M+480.0%
Capital Expenditures

$104K

No prior period
Free Cash Flow

-$13.5M

No prior period
Net Income

-$49M

Previous: -$20.5M-139.0%
Operating Income

-$54.8M

Previous: -$21.5M-155.3%
Gross Profit

-$12.7M

No prior period
Cash & Equivalents

$116M

Previous: $8.96M+1193.3%
Total Assets

$245M

Previous: $54.1M+353.4%
Stock-Based Comp

$710K

No prior period

Revenue & EPS history

Altimmune · Revenue · Quarterly

$2.31M

Q4 2020+301.7%vs Q4 2019
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Forward guidance

The company anticipates multiple data readouts from their programs over the coming months and believes 2021 has the potential to be a momentous year.

Tailwinds

  • Data read-out for Phase 1 clinical trial of AdCOVID in Q2 2021
  • Data readout from T-COVID trial in Q2 2021
  • Data read-out from Phase 1 clinical study for ALT-801 in Q1 2021
  • Plan to file an IND application for ALT-801 in mid-2021
  • Data read-out from Phase 2 clinical trial of HepTcell in 1H 2022

Headwinds

  • Potential impacts due to the COVID-19 pandemic such as delays in regulatory review.
  • Manufacturing and supply chain interruptions.
  • Adverse effects on healthcare systems and disruption of the global economy.
  • The reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates.
  • Funding delays, reductions in or elimination of U.S. government funding and/or non-renewal of expiring funding under the Company’s agreement with Biomedical Advanced Research and Development Authority (“BARDA”), or the Company’s contract with the National Institutes of Allergy and Infectious Diseases (“NIAID”).

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+2.4%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+5.6%

Avg return

30 days after

60%

21 / 35 earnings

Positive

+35.0%

Q2 2022

Best reaction

-25.1%

Q3 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.0%-8.8%-15.3%
Q4 2025-17.6%-9.6%-21.8%
Q3 2025+5.1%+14.1%+39.7%
Q1 2025-4.2%-7.2%+19.0%
Q4 2024+8.1%+0.3%-10.4%
Q3 2024+29.5%+3.5%+16.9%
Q2 2024+12.2%+14.7%+12.7%
Q1 2024+0.8%+9.2%-9.8%
Q4 2023+17.7%+18.3%-16.1%
Q3 2023+1.1%-6.4%+146.4%
Q2 2023+2.0%-4.7%-16.9%
Q1 2023+2.2%-6.6%-19.7%
Q4 2022+1.9%-2.0%-64.3%
Q3 2022+10.3%+12.7%+4.2%
Q2 2022+35.0%+37.3%+55.4%
Q1 2022+31.0%+34.3%+117.0%
Q4 2021+2.2%+12.1%-18.7%
Q3 2021-0.5%+1.3%-12.3%
Q2 2021+6.6%+14.9%+56.8%
Q1 2021+5.2%+4.7%+23.0%
Q4 2020-18.6%-19.5%-29.3%
Q3 2020-25.1%-18.6%-1.1%
Q2 2020-13.5%-5.5%-54.3%
Q1 2020+21.4%+21.6%+103.8%
Q4 2019-7.1%-6.5%-2.8%
Q3 2019-8.0%-10.9%-1.7%
Q2 2019-6.5%-6.5%-0.9%
Q1 2019+2.7%-4.7%-3.5%
Q4 2018+3.4%+6.6%-0.7%
Q3 2018-6.8%-9.1%-31.5%
Q2 2018+4.9%+0.3%-21.0%
Q1 2018+10.8%-1.9%+1.7%
Q4 2017-8.3%-5.9%-36.0%
Q3 2017-1.0%-7.1%-25.1%
Q2 2017-10.3%-12.0%+11.6%
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2012
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q3 2012
Q2 2012
Q1 2011
Q1 2012
Q4 2011
Q3 2011
Q2 2011
Q4 2010
Q3 2010
Q2 2010
Q1 2010

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