Why did ALT's operating expenses surge in Q4 2024?

The operating expenses of Altimmune, Inc. (stock code: ALT) likely increased in Q4 2024 due to several factors: 1. **Research and Development Expenses**: The company has been actively expanding its R&D investments, which is a key factor in the increase in operating expenses. This includes the completion of enrollment in the Phase 2b IMPACT trial of pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH) and the preparation for the submission of Investigational New Drug (IND) applications for pemvidutide in up to three additional indications. 2. **General and Administrative Expenses**: The rise in general and administrative expenses can be attributed to increased professional fees and stock compensation. This indicates a strategic investment in personnel and infrastructure to support the company's growth and regulatory activities. 3. **Strategic Initiatives**: Altimmune has been aligning with the FDA on a comprehensive Phase 3 registration program for its obesity program, which requires significant resources and planning. This alignment is crucial for the regulatory approval of pemvidutide and likely involved considerable expenses related to clinical trial design, manufacturing, and regulatory submissions. In summary, the surge in operating expenses in Q4 2024 reflects Altimmune's strategic investments in R&D, G&A, and regulatory alignment, which are essential for the company's long-term growth and the successful development of its lead product candidate, pemvidutide.