This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Altimmune is a clinical-stage biopharmaceutical company focused on metabolic and liver diseases. Its lead candidate pemvidutide, a dual GLP-1/glucagon receptor agonist, achieved FDA Breakthrough Therapy Designation for MASH after demonstrating 54.7% liver fat reduction in the Phase 2b IMPACT trial. The company is also advancing Phase 2 trials in alcohol use disorder and alcoholic liver disease. Pemvidutide's development relied on preclinical animal toxicity studies and pharmacology models in rodents and non-human primates to establish safety and efficacy before human dosing. Anti-fibrotic effects were first demonstrated in animal models of liver disease. Altimmune plans to initiate Phase 3 trials for pemvidutide in 2026, with ongoing preclinical work supporting indication expansion.
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
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