DoD Awards $4.7 Mln To Altimmune To Fund Phase 1/2 Clinical Trial Of T-COVID - Quick Facts

(RTTNews) - Biopharmaceutical company Altimmune, Inc. (ALT) announced Monday that it was awarded $4.7 million from the U.S. Army Medical Research & Development Command (USAMRDC) to fund its Phase 1/2 clinical trial of T-COVID, an investigational intranasal immune modulator for the treatment of outpatients with early COVID-19.

The competitive award was granted by USAMRDC in collaboration with the Medical Technology Enterprise Consortium (MTEC), a 501(c)(3) biomedical technology consortium working in partnership with the Department of Defense (DoD). The award is expected to provide Altimmune sufficient funding to cover the entire cost of conducting this clinical trial.

As previously announced, patient enrollment in the T-COVID Phase 1/2 trial is expected to commence in the coming weeks, with data readout expected in the fourth quarter of 2020.

If the Phase 1/2 clinical trial is successful, the Company plans to initiate a Phase 2/3 trial of T-COVID early next year and commence discussions regarding a potential Emergency Use Authorization.

On June 1, Altimmune announced that the U.S. Food and Drug Administration (FDA) authorized the Company to proceed with a clinical trial of T-COVID.

T-COVID is differentiated from most other COVID-19 therapeutics currently in development as it is focused on non-hospitalized patients prior to the development of pulmonary dysfunction. It focuses on preventing the progression to severe lung inflammation and thereby decrease the development of severe COVID-19 and the need for hospitalization.

The T-COVID therapeutic program complements the Company's novel single-dose COVID-19 vaccine candidate, AdCOVID, which utilizes the Company's proprietary intranasal vaccine technology and has the potential to prevent infection by activating multiple arms of the immune system.