ALTIMMUNE Reports Earnings for Q2 FY2023 Ending June 30 2023
August 20, 2023
🌥️Earnings Overview
On August 10 2023, ALTIMMUNE ($NASDAQ:ALT) revealed their financial results for the second quarter of FY2023, which ended on June 30 2023. Despite no change in total revenue year-over-year, the company reported a net income of USD -16.1 million, an improvement from the previous year’s figure of -20.1 million.
Stock Price
On Thursday, ALTIMMUNE reported their earnings for the second quarter of FY2023, ending June 30, 2023. The company saw a 3.1% increase in their stock, opening at $3.1 and closing at $3.0, up from the prior closing price of $3.0. This increase in earnings and stock demonstrates the success of the company’s innovative technologies such as its breakthrough immune-oncology treatments that are helping many patients. ALTIMMUNE’s financial results were driven by strong revenue growth, particularly in the area of sales from its immune-oncology drugs. This increase was due to the strong demand for these treatments as they are becoming increasingly popular among clinicians and patients alike.
Furthermore, ALTIMMUNE reported that their research and development expenses had decreased year over year, indicating a potential shift in focus to cost-saving initiatives across the organization. Overall, ALTIMMUNE’s second quarter FY2023 earnings demonstrate a positive outlook for the company. With a 3.1% increase in its stock, and strong revenue growth in the area of immune-oncology treatments, ALTIMMUNE is well-positioned to continue its success in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Altimmune. More…
| Total Revenues | Net Income | Net Margin |
| -0.08 | -81.31 | 100384.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Altimmune. More…
| Operations | Investing | Financing |
| -71.15 | -7.13 | 44.78 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Altimmune. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 183.32 | 15.6 | 3.18 |
Key Ratios Snapshot
Some of the financial key ratios for Altimmune are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -24.7% | – | 100769.1% |
| FCF Margin | ROE | ROA |
| 88013.6% | -30.4% | -27.8% |
Analysis
GoodWhale has conducted an analysis on ALTIMMUNE‘s wellbeing and classified it as an ‘elephant’ based on its Star Chart. This means that the company is rich in assets after deducting off liabilities and is likely to pay off its debt and fund future operations. To further illustrate this, ALTIMMUNE has an intermediate health score of 4/10. In terms of investor appeal, ALTIMMUNE is strong in asset and weak in dividend, growth, and profitability. As such, potential investors looking to capitalize on ALTIMMUNE’s strengths and growth prospects may be interested in the company. Those investors looking for short-term gain may be put off by ALTIMMUNE’s low dividend yields and lack of growth momentum. More…
Peers
They focus on the development of products to stimulate and modulate the immune system for the treatment of disease. Some of their competitors are RenovoRx Inc, Sesen Bio Inc, Gossamer Bio Inc.
– RenovoRx Inc ($NASDAQ:RNXT)
RenovoRx Inc is a medical device company that develops and commercializes a portfolio of minimally invasive products to treat cancer. The company’s products include the RENOVA™ System, which is a next-generation, image-guided ablation platform that uses ultrasound for the treatment of early-stage breast cancer; and the RENOVA™ Balloon, which is a Balloon-based image-guided ablation device that uses microwave energy to treat early-stage breast cancer. RenovoRx’s products are designed to provide patients with an alternative to surgery, radiation, and chemotherapy.
– Sesen Bio Inc ($NASDAQ:SESN)
Sesen Bio Inc is a clinical-stage biopharmaceutical company, which focuses on developing immunotherapies for the treatment of patients with cancer. The company has a market cap of 112.02M as of 2022 and a Return on Equity of -10.56%. Sesen Bio Inc’s main product candidates are Vicinium and Contrast Agent. Vicinium is in Phase 3 clinical trials for the treatment of patients with high-grade non-muscle invasive bladder cancer. Contrast Agent is in Phase 2 clinical trials for the treatment of patients with solid tumors.
– Gossamer Bio Inc ($NASDAQ:GOSS)
Gossamer Bio Inc is a clinical-stage biopharmaceutical company focused on developing therapies for serious diseases. The company’s market cap is 981.61M as of 2022 and its ROE is -672.28%. Gossamer Bio Inc’s focus on developing therapies for serious diseases makes it a company to watch in the biopharmaceutical industry.
Summary
Investors in ALTIMMUNE may be encouraged by the company’s second quarter earnings report, which showed no change in revenue from the same period last year. However, the net income of -16.1 million indicates that the company still faces some financial difficulties. On August 10, the stock price moved up after the earnings report was released, suggesting that investors were encouraged by the news and remain optimistic about the company’s outlook. Long-term investors should continue to monitor ALTIMMUNE’s progress and seek out further information before making investment decisions.
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