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Altimmune Earnings: ALT Stock Tumbles 12% on FY Miss

Altimmune (NASDAQ:ALT) earnings for the fiscal year of 2019 have ALT stock taking a dive on Friday. That’s due to the biopharmaceutical company’s adjusted full-year losses per share of $1.60. This is worse than Wall Street’s estimate of -$1.52. Its revenue of $5.8 million also didn’t reach analysts’ estimates of $5.98 million.

Altimmune Earnings: ALT Stock Tumbles 12% on FY Miss

Source: Pavel Kapysh / Shutterstock.com

Here are some additional highlights from the most recent Altimmune earnings report.

  • Adjusted per-share losses are 89.5% better than the -$15.16 from the previous fiscal year.
  • Revenue comes in 43.85% lower compared to $10.33 million for the fiscal full year of 2018.
  • Operating loss of -$21.5 million is a 49.9% improvement year-over-year from -$42.8 million.
  • The Altimmune earnings report also includes a net loss of -$20.5 million.
  • This is 47.6% better than the -$39.2 million reported during the prior fiscal year.

Vipin K. Garg, Ph.D., president and CEO of Altimmune, said this about the ALT stock earnings report.

“2019 was a productive year for the Company with the acquisition of ALT-801, a supplemental award for the development of NasoShield from BARDA, and the advancement of ALT-702 as a preclinical program. However, we all find ourselves in a very different world in 2020 with the COVID-19 global pandemic causing substantial disruption to many of our lives.”

The Altimmune earnings report doesn’t include its outlook for fiscal 2020, but that’s not much of a surprise at this point. Many companies are withholding their guidance in light of the coronavirus from China.

ALT stock was down 12.3% when markets closed on Friday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/altimmune-earnings-drop-alt-stock/.

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