Altimmune, Inc. Common Stock Wells Fargo 21st Annual Healthcare Conference

Thanks for having us, Mohit.

Thanks. At Altimmune, we are a company focused on liver disease. I have been the CEO since the beginning of 2016. The main focus of our efforts is around pemvidutide, which is a balanced glucagon GLP agonist. We think is well-positioned for liver diseases based on the overall clinical profile that's evolved. We have spent quite a bit of time this year, as we have transitioned to a late-stage development company. Really happy last month to announce that our phase III MASH is enrolling after a lot of work to deliver the phase II data and to raise appropriately to transform the balance sheet in order to support execution of the phase III trial in MASH, which is called PERFORMA. Also importantly, recently we announced very positive phase II data from our AUD trial, alcohol use disorder.

Again, another opportunity with a high unmet need in the market and real important differentiation that we're beginning to see with pemvidutide. We think we're positioned well as we, again, continue to really focus on the execution now. Maybe Greg can touch a minute on the balance sheet, which is an Yeah important part of where we are.

Then hopefully through the conversation, we can talk about why we're excited about pemvidutide and again, the important differentiation that we think pemvidutide can bring. We've had, I think, a great amount of progress to date as we think about the year. It's been a busy year, but we're clear on the work to do ahead.

Mohit, as you know, we've been talking for a long time in MASH about the complexity of the disease. It's a multifactorial disease, and for a long time now, the KOLs, the investigators have talked about the importance of potentially bringing combination therapy to the table. Why? Because the disease is complex. You have different manifestations ultimately leading to liver complications. A combination approach like pemvidutide is where you're bringing, again, the direct action on the liver, and Christophe can go into some detail, perhaps, along with the benefits of GLP, the metabolic benefits. We know that we're driving weight loss. We see good indicators in phase II of the impact on fibrosis and MASH resolution, and also importantly, when you think about chronic therapy, the real need to keep patients on the drug at the right dose.

We think we saw in our phase II MASH trial that the profile of pemvidutide probably is well-suited to the real world, where we know patients have difficulty staying on some of the existing therapies. As the MASH market evolves, we think that drugs like pemvi that can bring multiple benefits to the table, but do it in a balanced and patient-friendly way, are going to be important. Again, we think that the phase II data that we've generated thus far starts to talk about that differentiation. I've always believed that the MASH market treatment will end up maturing like every other big chronic class where you have multiple mechanisms at play as patients progress in severity of diseases.

We always think about the opportunity for pemvi for a robust segment of patients where we think the benefit of pemvi is different than some of the other options that are out there.

Got it. But the importance to bring the benefits of both the direct liver effects and the metabolic effects in GLP, we think is one of the important dimensions of pemvidutide.

The importance of glucagon. First we know that GLP takes a long time- to have the effect because it's an indirect effect.