Altimmune, Inc. (NASDAQ:ALT) Q3 2023 Earnings Call Transcript

Scot Roberts: Oh. Thank you, Omari. I’ll answer both of those questions. Yeah. So, Omari, we — as we’ve said, we feel comfortable that we could achieve weight loss in the mid-teens, which as Dr. Aronne pointed out is key for moving most of not all the comorbidities of obesity. And we feel comfortable that we’ll be in that range. And that also we’ll continue to see weight loss beyond that. So if you recall, the weight loss achieved by tirzepatide and semaglutide at 48 weeks was less than it achieved at 48 weeks, at 72 weeks, or 68 and 72 weeks. Now we’ll continue to see weight loss, or would have continued to see weight loss beyond the 48 week time point. And as I mentioned in my response to Yasmin, we’ll model that for investors and estimate what we think the weight loss would be at extended time points.

We see this drug extremely well positioned in the obesity marketplace, especially fitting the segment of patients who need to get further reduction in their serum lipids, reduction in their liver fat content, both important risk factors for cardiovascular disease, but most importantly, achieving it safely. And I want to emphasize that we have not seen the heart rate increases, at least not seen meaningful heart rate increases with pemvidutide or arrhythmias that’s been seen in other compounds, especially the compounds, the dual agonists that contain glucagon. So we think the safety profile, the good solid weight loss, the effects on serum and hepatic lipids, and especially in primary care, which we believe is going to dominate the obesity marketplace in the future, the convenience of not having a dose titration, at least at the 1.8-milligram dose.

Operator: Thank you. One moment for our next question. And our next question coming from the line of Roger Song with Jefferies. Your line is now open.

Roger Song: Great. Congrats for the progress and thanks for the update. A few questions from us. So the first one is regarding the — assuming the momentum Phase 2 data meeting your expectation. And how — what is your current thinking around the Phase 3 design? Particularly around the dosing and the titration given, we see a little bit higher discontinuity due to AE in Phase 2, which is similar to other Phase 2, but in Phase 3, you probably want to lower that rate for Phase 3. Just remind us what is your current thinking for the design portion? And second question is related to the partnership. So I think on the call, you mentioned you will start a Phase 3 in second half next year with the partner, maybe just can you give us some color around the partner discussion at this point, particularly with the momentum 48-week data, how and when will trigger additional discussion to make this material? Thank you.

Scot Roberts: Roger, I’ll answer the first question, and then hand…

Vipin Garg: Scott, do you want to take the first question? Yeah, go ahead.

Scot Roberts: Yeah. Roger, I’ll answer the first question, and then I’ll turn the microphone over to Vipin for the second question. So the ultimate design of the Phase 3 trial will be set in discussion with partners, and also in discussions with the FDA. We anticipate having an end of Phase 2 discussion with FDA in 2024 based on the results of MOMENTUM trial. We see all of the current doses as being viable going forward. The 1.2 and 1.8 milligram doses are given without dose titration and currently, the 2.4 milligram dose is given with a very short, four-week titration. That’s about one-fifth duration of tirzepatide dosing and even lower than the prolonged titrations that are being used beyond half a year in other programs, or will be used in Phase 3 programs.