Altimmune Stock

The financial performance of Altimmune (US symbol: ALT) paints a rather complex picture, characterized by substantial challenges alongside areas of potential. In examining the balance sheets, cash flow statements, income statements, and financial ratios, significant concerns around profitability and sustainability surface. Nevertheless, there are glimpses of financial resilience and opportunities for growth that warrant deeper exploration.

Starting with the balance sheets, Altimmune's total assets have seen slight increases, growing from approximately $218.86 million in 2021 to $210.64 million in 2023. However, the company's retained earnings dipped dramatically into negative territory, from -$293.17 million in 2021 to -$466.33 million by 2023. This trend indicates that the company's cumulative losses are raising red flags regarding its ability to generate sustainable profits over time. Importantly, despite its total liabilities being relatively manageable at $16.54 million in 2023, this low level of debt comes with a substantial cash position of $135.12 million, indicating that the company is not overly burdened by financial obligations.

On the cash flow front, it's important to highlight a consistent pattern of negative cash flows from operating activities over recent years. For instance, in 2023, the total cash from operating activities dropped to -$75.81 million, reflecting a concerning trend in operational efficiency. Despite this, financing activities showed an influx of cash, mostly from the issuance of capital stock, totaling about $86.81 million in 2023. This reliance on external funding rather than organic growth raises questions about the long-term viability of its business model if these losses continue.