Altimmune : Redefining & Executing Dual Agonist Enterohormone Therapies for Obesity

Redefining and Executing Dual Agonist Enterohormone Therapies for Obesity

Sarah K. Browne, MD

Vice President, Clinical Development

Altimmune, Inc.

Novel Therapies for Type 2 Diabetes and Obesity Summit

31 May 2023

NASDAQ: ALT

Forward-looking Statements

Safe-Harbor Statement

This presentation has been prepared by Altimmune, Inc. ("we," "us," "our," "Altimmune" or the "Company") and includes certain "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing of clinical development and funding milestones for our clinical assets as well as statements relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, and the prospects for commercializing or selling any product or drug candidates. In addition, when or if used in this presentation, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to the Company may identify forward- looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward looking statements or historical experience include risks and uncertainties, including risks relating to: potential impacts due to the COVID-19 pandemic such as delays in regulatory review, manufacturing and supply chain interruptions, adverse effects on healthcare systems and disruption of the global economy, the timing and reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company's product candidates; our lack of financial resources and access to capital; clinical trials and the commercialization of proposed product candidates (such as marketing, regulatory, product liability, supply, competition, dependence on third parties and other risks); the timing of regulatory applications and the regulatory approval process; dependence on intellectual property and reimbursement and regulation. Further information on the factors and risks that could affect the Company's business, financial conditions and results of operations are contained in the Company's filings with the U.S. Securities and Exchange Commission, including under the heading "Risk Factors" in the Company's annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the SEC, which are available at www.sec.gov. The statements made herein speak only as of the date stated herein, and any forward-looking statements contained herein are based on assumptions that the Company believes to be reasonable as of this date. The Company undertakes no obligation to update these statements as result of new information or future events.

2

Altimmune-Focused Pipeline

P E P T I D E - B A S E D T H E R A P E U T I C S TA R G E T I N G O B E S I T Y A N D L I V E R D I S E A S E S

PRODUCT NAME	Preclinical	Phase 1 Phase 2 Phase 3	Status1
		•	MOMENTUM trial: Interim 24-
	Obesity		wk weight loss data in Q1 2023
		•	MOMENTUM trial: Top line 48-
Pemvidutide			wk weight loss data in Q4 2023
(ALT-801)		•	24-wk NAFLD readout
	NASH	•	completed Q4 2022
		Initiation of Phase 2b NASH
			trial mid-year 2023

HepTcellTM

Chronic HBV

• Top line data readout H1 2024

1 Expected Dates

33

Obesity-Unmet Medical Need and Burden

Significant Unmet Need

Substantial Burden

Obesity defined as Body Mass Index (BMI) > 30

>1 billion people

worldwide are

obese1

U.S. obesity prevalence increased from 30.5% to 41.9% over last ~20 years2

Hypertension

Dyslipidemia

Liver Disease

Type 2 Diabetes

Other (cancer,

chronic back pain)

• Coronary heart disease, dyslipidemia and hypertension represent approximately 50% of the deaths attributable to obesity2
• Economic (direct and indirect) costs of overweight and obesity in 2019 were estimated to be $844 billion in the Americas3
• U.S. obesity-related(direct) medical costs for adults were estimated to be nearly $173 billion4
• U.S. medical costs for people with obesity tend to be 30% to 40% higher than those for people without obesity5
• Obesity accounts for 47.1% of the total cost of chronic diseases nationwide6

	1)	World Health Organization. (2022, March 4). World Obesity Day 2022-Acceleratingaction to stop obesity.https://www.who.int/news/item/04-03-2022-world-obesity-day-2022-accelerating-action-to-stop-obesity
	2)	Lopez, Claude, et.al. (2020) Weighing Down America: 2020 Update. Milken Institute.https://milkeninstitute.org/report/weighing-down-america-2020-update
	3)	Okunogbe A, Nugent R, Spencer G, et al. Economic impacts of overweight and obesity: current and future estimates for 161 countries. BMJ Global Health 2022;7:e009773.
4	4)	Ward ZJ, Bleich SN, Long MW, Gortmaker SL. (2021) Association of body mass index with health care expenditures in the United States by age and sex. PLoS ONE 16(3): e0247307. https://doi.org/10.1371/journal.pone.0247307
5)	Tiwari A, Balasundaram P. Public Health Considerations Regarding Obesity. [Updated 2022 Sep 3]. In: StatPearls	https://www.ncbi.nlm.nih.gov/books/NBK572122/
6)	Waters, H., et. al. (2018, October). Americas Obesity Crisis - The Health and Economic Costs of Excess Weight.	Milken Institute.https://milkeninstitute.org/report/americas-obesity-crisis-health-and-economic-costs-excess-weight

US Prevalence and Significance of Obesity Comorbidities

Obesity	Obesity
	41-45%
19-23%	Obs. Sleep
Apnea3,4
T2DM1,2
(U.S. 21-26m)*	(U.S. 46-50m)*

• U.S. prevalence numbers based on 112 million obesity population and each comorbidity percents

Obesity	Obesity	Obesity
	58-75%
45-55%	NAFLD6,7,8	66-70%
Hyper-	30-36%	Dyslipidemia1,5
tension1,2	NASH6,7,9
(U.S. 50-62m)*	NAFLD (U.S. 65-84m people)*	(U.S. 74-78m)*
	NASH (U.S. 34-40m people)*

Most prevalent comorbidities are

dyslipidemia, NAFLD, and hypertension

	1)	Bays, Harold, et. al. (2013) Obesity, adiposity, and dyslipidemia: A consensus statement from the National Lipid Association. Journal of Clinical Lipidology 7(4):304-383.
	2)	Pantalone KM, et al. Prevalence and recognition of obesity and its associated comorbidities. BMJ Open 2017;7:e017583. doi:10.1136/ bmjopen-2017-017583
	3)	Romero-Corral, Abel, et. al. (2010) Interactions Between Obesity and Obstructive Sleep Apnea. Chest 137(3): 711-719.
	4)	Garvey JF, Pengo MF, Drakatos P, Kent BD. Epidemiological aspects of obstructive sleep apnea. J Thorac Dis 2015;7(5):920-929.
	5)	Lim Y, Boster J. Obesity and Comorbid Conditions. [Updated 2023 Feb 8]. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; https://www.ncbi.nlm.nih.gov/books/NBK574535/
5	6)	Quek, Jingxuan, et. al. (2023) Global prevalence of non-alcoholic fatty liver disease and non-alcoholic steatohepatitis in the overweight and obese population:. The Lancet Gastroenterology & Hepatology 8(1):20-30.
7)	Vernon, G, et. al. (2011) Systematic review: the epidemiology and natural history of non-alcoholic fatty liver disease and non-alcoholic steatohepatitis in adults. Aliment Pharmacol Ther 34:274-285.
	8)	Le, Michael, et. al. (2022) 2019 Global NAFLD Prevalence: A Systematic Review and Meta-analysis. Clinical Gastroenterology and Hepatology 2022;20:2809-2817
	9)	Dufour, Jean-François, et. al. (2021) The global epidemiology of nonalcoholic steatohepatitis (NASH) and associated risk factors-A targeted literature review. Endocrine and Metabolic Science 3.