The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Roger Song - Jefferies - Analyst
: Awesome. I think Altimmune's pemvidutide is pretty unique, given your dual agonist for GLP-1 and glucagon. I don't know how many GLP-1 out
there [at least your asset], but not many assets really have this glucagon component maybe because of some historical finding there. So people
don't know how to deal with that, but it seems pemvidutide had a pretty unique profile. In the high level, how do you think about this dual agonism
will play into, as you mentioned, both obesity and the NASH? What are the key value proposition you will say for pemvidutide, given this unique
position?
Question: Roger Song - Jefferies - Analyst
: Excellent. Yeah, you do have this clinical data to support your liver and the lipid benefits, which I don't think any other GLP class pipeline have seen.
Okay. Good.
Question: Roger Song - Jefferies - Analyst
: Excellent. Okay. And then so you are conducting a Phase 2 48-week data study and then recently already announced the data for 24-week. Maybe
just to remind us, how should we interpret the data, particularly with this 24-week weight loss and any other parameters? What do we expect to
see at 48 week?
Question: Roger Song - Jefferies - Analyst
: Okay. And how about the other parameters in terms of the liver, lipids, and some of the GI tolerability? Any other parameters you want to highlight
what you expect to see?
Question: Roger Song - Jefferies - Analyst
: So at the 24 week, maybe people are a little bit surprised by the discontinuation rate? And how do you think that this will factor into your 48-week
data you are taking that into account, maybe you'll follow up with the Phase 3? How you're going to address that?
Question: Roger Song - Jefferies - Analyst
: Excellent. Okay. So maybe you can talk a little bit about what will be the potential next step after the Phase 2b? You probably will discuss with the
FDA for the Phase 3 design. What will the total pivotal program look like as you mentioned you will incorporate a dose reduction to control this
discontinuation rate? What the other key topics you will discuss with the FDA?
Question: Roger Song - Jefferies - Analyst
: Okay. So one interesting hypothetical question is if you can keep the discontinuation rate similar to other programs, maybe just within the range
of that 10%-ish, how would you expect your efficacy will become in your Phase 3. So would you still set a similar benchmark for pemvidutide in
the range? What are the other guidance for the Phase 3?
Question: Roger Song - Jefferies - Analyst
: Okay. All right. So we definitely want to touch upon the NASH opportunity before we talk about, you're about to start a Phase 2b for NASH. So how
you balance the obesity versus NASH opportunity as you are -- particularly as you are discussing with your partners and what's the interest level
for each market?
Question: Roger Song - Jefferies - Analyst
: Yeah. Maybe just clarify the timing, the sequence, right? So you will use data in NASH. Now you're discussing the waiting for the 48 week obesity
data and then talk with the FDA, get this Phase 3 ready by the next year probably. And so when you discuss with your partner, what are the key
data points they're waiting for make the decision and eventually you will be able to sign a partner by the time you have the Phase 3 ready for
obesity?
Question: Roger Song - Jefferies - Analyst
: Okay. Talk a little about the NASH, how the study, the design, timing and why you think what you're already seeing there potentially can translate
into the biopsy benefit?
Question: Roger Song - Jefferies - Analyst
: Excellent. So any like a powering assumption you want to share with us given the size and the endpoint, particularly for the non-invasive biomarker
endpoints?
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JUNE 09, 2023 / 12:30PM, ALT.OQ - Altimmune Inc at Jefferies Healthcare Conference
Question: Roger Song - Jefferies - Analyst
: Excellent. That's good. Okay. So before we move outside of pemvidutide, anything you want to make sure we understand in the message?
Question: Roger Song - Jefferies - Analyst
: Excellent. Good. So last a couple of minutes. You do have another pipeline. Although people not necessarily pay too much attention, but you will
have some Phase 2 data upcoming early next year. So just remind us of what that program is. What is the expectation you want to set for people?
Question: Roger Song - Jefferies - Analyst
: Yes.
Question: Roger Song - Jefferies - Analyst
: Perfect. Okay. Maybe just lastly, remind us, what's your cash position and what's the runway and anything else we haven't discussed, but you want
to make sure people understand.
Question: Roger Song - Jefferies - Analyst
: All right. Thank you.
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