Altimmune appoints Jerry Durso as board chairman

GAITHERSBURG, Md. - Altimmune, Inc. (NASDAQ:ALT), a clinical-stage biopharmaceutical company with a market capitalization of approximately $280 million, has appointed Jerry Durso as Chairman of its Board of Directors, effective Tuesday. According to InvestingPro data, while the company maintains strong liquidity with more cash than debt, its overall financial health score remains weak at 1.59.

Durso succeeds Mitchel Sayare, who will remain on the board as an independent director. The leadership change comes as Altimmune prepares for Phase 3 development of pemvidutide, its treatment for metabolic dysfunction-associated steatohepatitis (MASH). The transition occurs amid challenging market conditions, with the stock down over 45% in the past six months, though InvestingPro analysis suggests the stock is currently trading near its Fair Value.

The company expects to hold an End-of-Phase 2 Meeting with the FDA for MASH in the fourth quarter of 2025.

Durso joined Altimmune’s board in February 2025 and brings over 30 years of experience in the life sciences industry. He most recently served as Chief Executive Officer at Intercept Pharmaceuticals, where he built a rare liver disease franchise and led the company through its acquisition by Alfasigma.

"I am honored to assume the role of Chairman during this exciting stage at Altimmune as we work toward transitioning to a late clinical-stage company," said Durso in the press release.

Vipin K. Garg, President and CEO of Altimmune, expressed gratitude to Sayare for his seven years of leadership as Chairman and welcomed Durso’s expanded role.

Sayare noted that the timing was right to shift board leadership to emphasize commercial expertise as the company prepares for the next phase of development.

Altimmune is developing pemvidutide as a GLP-1/glucagon dual receptor agonist for treating MASH, Alcohol Use Disorder, Alcohol-Associated Liver Disease, and obesity. While analysts don’t expect profitability this year, the company maintains a healthy current ratio of 15.85, indicating strong short-term liquidity. For deeper insights into Altimmune’s financial health and growth prospects, including 13 additional ProTips and comprehensive valuation metrics, investors can access the full analysis through InvestingPro’s detailed research report.

In other recent news, Altimmune has reported several key developments. The company shared positive topline data from its Phase 2b IMPACT trial, which evaluated pemvidutide for metabolic dysfunction-associated steatohepatitis (MASH). The trial met its primary endpoint with significant MASH resolution in patients receiving pemvidutide, although it did not show improvement in fibrosis, a critical focus for investors. Despite this, UBS maintained its Buy rating with a $26.00 price target, while H.C. Wainwright also kept a Buy rating with a $12.00 price target. In contrast, Goldman Sachs downgraded Altimmune to a Sell rating, citing concerns about pemvidutide and setting a $1.00 price target. Additionally, Altimmune has enrolled the first patient in its RESTORE Phase 2 trial for Alcohol-Associated Liver Disease (ALD). Citizens JMP adjusted its price target for Altimmune to $15.00 from $25.00 after the fibrosis endpoint miss. These recent developments highlight the mixed perspectives from analysts regarding Altimmune’s future prospects.

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