Altimmune shares surge 10.49% after-hours after securing $75M for pemvidutide's Phase 3 MASH trials, which received FDA Breakthrough Therapy Designation.

Altimmune surged 10.49% in after-hours trading following the announcement of a $75 million registered direct offering to fund Phase 3 trials of pemvidutide, its dual-agonist therapy for metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder, and alcohol-associated liver disease. The FDA’s Breakthrough Therapy Designation for pemvidutide in MASH, based on promising Phase 2b results showing significant liver disease resolution without worsening fibrosis, reinforced investor confidence in the therapy’s potential. The financing, led by Titan Partners, provides operational flexibility ahead of pivotal trials, aligning with the company’s strategic focus on addressing both liver pathology and metabolic dysfunction. The positive reception reflects optimism around pemvidutide’s dual mechanism, regulatory momentum, and unmet medical needs in liver disease markets.