“The #1 Tech Opportunity of the Decade”

On February 8th, Luke Lango is making his biggest call of 2023. He’s recommending technology (that you’ve likely never heard of) that could help 122 million people… And mint up to $3 trillion in wealth.

Wed, February 8 at 8:00PM ET
 
 
 
 

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/.

©2023 InvestorPlace Media, LLC