Altimmune Inc. Common Stock (ALT)

FairStock Score: 44/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am a value investor, so I start with earnings, assets, and staying power. Altimmune does not pass the first test. Revenue remains nominal: in fiscal 2025, the year ended 2025-12-31, revenue was $41,000; in fiscal 2024 it was $20,000; in fiscal 2023 it was $426,000. Net losses were $88.1 million, or $1.00 per diluted share, in fiscal 2025; $95.1 million, or $1.34 per share, in fiscal 2024; and $88.4 million, or $1.66 per share, in fiscal 2023. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, showed a $22.8 million net loss and a $0.12 per share loss. These are not the marks of a business with a durable moat. The company is a clinical-stage biotech with 57 employees, betting on pemvidutide in Phase 3 for liver and alcohol-related diseases. Until approval and sales, there is no competitive moat I can underwrite; there is only clinical and regulatory risk. The balance sheet is not stretched by debt: D/E is 0.08 and FairStock's Altman Z-score is 4.06. But trailing free cash flow is -$76.6 million, a FairStock FCF yield of -16.2%, so book value is being consumed. At the 2026-10-13 close of $2.43, FairStock shows P/B of 1.00 and P/E of -3.20. Price looks approximately at book, not obviously cheap for a cash-burning, no-revenue enterprise. FairStock scores 44/100, and no Peter Lynch category fits because it lost money in each of the last four years. I would need proof of commercial viability and a much wider margin of safety.

In plain English: Altimmune is a small healthcare company trying to develop a liver-disease drug called pemvidutide. It has almost no revenue and has lost money for years, so the business looks weak today. At $2.43 a share, the market value is about equal to its accounting book value, which may look fair on that one measure, but there is no profit yet to judge and the company is using cash.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer