Company Overview
Altimmune, Inc. operates as a late clinical stage biopharmaceutical company dedicated to developing novel therapies specifically targeting serious liver diseases. The company functions within the healthcare sector and the biotechnology industry, where its primary focus is on advancing medical treatments through rigorous clinical development phases. Its financial scale is defined by a market capitalization of $430.65M and an annual revenue of $41,000 over the trailing twelve months, supported by a workforce of 57 employees. These valuation and revenue figures indicate that the company maintains a relatively small market position, consistent with a biotechnology firm still heavily invested in research and development before achieving significant commercial scale. The low revenue figure relative to the market cap suggests that the company's valuation is driven by the potential future value of its pipeline rather than current earnings power.
Financial Health
The company reported a revenue of $41,000 and a net income of $-88,093,000 for the trailing twelve months, with an EBITDA of $-94,377,000, revealing a cost structure where operating expenses far exceed current sales generation. The free cash flow stands at $-38,722,124, indicating that the company is currently burning cash to fund its operations and clinical trials, which limits immediate financial flexibility but is typical for development-stage entities. Analysis of the margins shows a gross margin of 0.0%, an operating margin of -111126.9%, and a profit margin of 0.0%, reflecting the high burn rate and lack of profitability inherent in the early commercialization phase of biotechnology. In terms of liquidity and leverage, the company holds $273.46M in cash against $35.69M in debt, resulting in a debt-to-equity ratio of 15.87, which presents a highly leveraged profile on paper but is mitigated by the substantial cash reserve. The current ratio is reported at 18.55, suggesting that the company possesses a very strong position regarding short-term liquidity relative to its short-term obligations. Return on equity is -50.6% and return on assets is -28.2%, metrics that reveal that management is currently utilizing equity and assets to generate losses rather than positive returns.
Valuation Assessment
The trailing twelve-month P/E ratio is listed as N/A due to negative earnings, while the forward P/E is -2.43, implying that the market is pricing in expectations of future profitability rather than current performance. The price-to-book ratio is 1.63, which indicates that the market is valuing the company at a 63% premium over its book value, a common characteristic for biotech firms with valuable intellectual property and clinical pipeline potential. Alternative valuation metrics include a price-to-sales ratio of 10503.61 and an EV/EBITDA of -2.04, suggesting that the valuation is heavily dependent on future revenue generation rather than current cash flows or earnings. The stock has traded between a 52-week high of $7.73 and a 52-week low of $2.90, placing the current market price within a range that reflects significant volatility over the past year. The beta value is 0.17, indicating that the stock's price volatility is significantly lower than the broader market, suggesting it is less sensitive to general market movements.
Growth & Income
Revenue growth year-over-year is reported at 420.0%, while earnings growth is N/A due to the company's unprofitable status, implying that top-line expansion is occurring without corresponding immediate earnings improvement. As a non-dividend payer, the company reports a dividend yield of N/A and a payout ratio of 0.0%, meaning it does not distribute cash to shareholders and instead reinvests all earnings into its growth initiatives and clinical programs. This reinvestment strategy is standard for late clinical stage biopharmaceutical companies seeking to bring products to market. The overall growth and income profile is characterized by explosive revenue expansion and zero dividend distribution, focusing entirely on capitalizing the clinical pipeline and achieving commercial milestones.