Obesity stock. Alt management has continuously stated: We want a partner at the Phase 3 Trial design meeting with the FDA

Meeting, as per PR, early November. Therefore, a partner anticipated to be announce any day now. Though, to be honest - we have been waiting for a year now. Altimmune, unlike others, is in advanced stages and has FAST TRACK STATUS.

If this comes true, retail can sit in a warm bath together with Sexy Institutions and Shorts.

• Float 71 million
• Institutional ownership 63%, 43 million
• Short 31%, 22 million
  • Do the math: Retail left-overs?
    • No dilution expected, 150 million in the bank.

What does a Obesity play getting a trial fully funded looks like?

https://finance.yahoo.com/quote/VKTX/

If partner announced, see beginning of chart (10$-30$). If additional data announced, see trajectory from Feb onward (30$ - 90$)

• Lean Loss Ratio of only 21.9%, representing class-leading preservation of lean mass
• Maintenance of lean mass preservation in individuals over the age of 60, a population at risk for frailty-related falls and fractures
• Visceral adipose tissue (VAT), a risk factor for cardiovascular disease, reduced by 28.3% at Week 48

https://finance.yahoo.com/news/correction-altimmune-presents-results-phase-170900804.html

A bit of DD mixed with opinion:

1. Why $ALT over $VKTX?
   • VKTX-2735 < PEMVI 2.4mg -- PEMVI superior quality of Weight Loss as measured by % FAT vs. % LEAN reduction (i.e. the KEY next-gen GLP1 metric)
   • PEMVI broad CARDIOVASCULAR activity/potential
   • PEMVI MOA includes Thermogenic/RMR component for LT use
   • PEMVI body recomp. potential via class-leading lean muscle preservation
   • PEMVI P3 titration/DR design to 'fix' outlier 48wk P2 (other PEMVI studies have shown tolerability on par with VK2735)
   • VK2735 is faster WL which is better for BMI 40 class 3 Obesity (smaller market), but not for avg. person -- VK to compete with $LLY Zep,
   • PEMVI is SIGNIFICANTLY differentiated high quality Next-gen GLP1 WL
   • VKTX-2809 < PEMVI 1.8mg -- PEMVI rapid liver defatting in 6-12 wks (MASLD)
   • PEMVI better 24wk anti-fibrotic potential vs 52wk VKTX
   • PEMVI bypasses thyroid and is leading GLP1 liver MOA
2. Why is Viking valued at 50$ and Altimmune at 6$?
   • Viking Management simply is better at managing their stock. Viking has 900 million in cash, which they simply raised in a brilliant way.
   • Altimmune had a short report to endure, in which Kerrisdale stupidly rehashed old data, BUT Altimmune management FAILED at protecting the stock they let Jefferies do their bidding.
   • Altimmune cash runway 150 million (or so), they stupidly ran the ATM at the absolute wrong moment.
3. But why is Altimmune still the better stock?
   • Pemvi as explained above, is smarter. Not Obesity, but curative fatty liver - COVERED BY INSURANCE ALREADY. Which pure obesity drugs are not, like Zepbound Wegovy
   • Altimmune has FAST TRACK status. A nugget overseen by many
   • Altimmune has a much much larger upside, at this moment. The odds of Viking crashing, extremely high. They are a Bio, they will face a setback. I believe if Viking was to be bought now, it would be at 100$ per share
   • If Altimmune was to be bought now, 40$-75$ per share would be fair.
   • If Altimmune announces a partner, it will likely be a 20$ 30$ stock within days.