Investment Thesis
Altimmune is a pre-commercial pharmaceutical company with devastating operational losses (-$24.2M operating income on only $41K revenue) and a cash burn rate of $20.9M annually. While the balance sheet is strong with $97.6M cash and low debt (0.12x D/E), the company demonstrates no viable path to profitability based on fundamental metrics, making it unsuitable for investors seeking financial health outside of pure R&D stage biotech speculation.
Strengths
- Strong balance sheet with $284M stockholders equity and minimal debt (0.12x D/E ratio)
- Substantial cash position ($97.6M) providing ~4.7 year runway at current burn rate
- Exceptional liquidity (29.56x current ratio) ensures near-term financial stability
Risks
- Catastrophic profitability with -$24.2M operating losses on negligible $41K revenue base
- Unsustainable cash burn of $20.9M annually with negative operating cash flow
- No demonstrated commercialization capability; remains pre-clinical/early-stage with zero revenue-generating business
- Extremely negative operating margin (-59,131.7%) indicating business model is not yet viable
Key Metrics to Watch
- Quarterly revenue growth and path to commercial product launch
- Monthly cash burn rate trend and runway longevity
- Operating loss trajectory and achievement of clinical milestones
Financial Metrics
Revenue
41.0K
Net Income
-22.6M
EPS (Diluted)
$-0.18
Free Cash Flow
-21.0M
Total Assets
335.6M
Cash
97.6M
Profitability Ratios
Gross Margin
N/A
Operating Margin
-59,131.7%
Net Margin
-55,031.7%
ROE
-7.9%
ROA
-6.7%
FCF Margin
-51,129.3%
Balance Sheet & Liquidity
Current Ratio
29.56x
Quick Ratio
29.56x
Debt/Equity
0.12x
Debt/Assets
15.4%
Interest Coverage
-24,244.00x
Long-term Debt
34.5M
Disclaimer: This analysis is generated by AI based on publicly available SEC EDGAR filings.
It does not include stock price data and should not be considered financial advice.
All fundamental data is sourced from SEC public domain filings.
Always conduct your own research before making investment decisions.
Data Source: SEC EDGAR |
Analysis Date: 2026-05-14T07:51:16.513504 |
Data as of: 2026-03-31 |
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