Altimmune, Inc. (Nasdaq: ALT) has appointed Linda M. Richardson as Chief Commercial Officer, effective September 16, 2025, as the late clinical-stage biopharmaceutical company prepares to advance its lead drug candidate pemvidutide into Phase 3 development for Metabolic Dysfunction-Associated Steatohepatitis (MASH).
Richardson brings more than 30 years of experience in sales and marketing, commercial, corporate and business development across therapeutic areas including metabolic disease, hepatology, cardiovascular and addiction medicine. During her career, she has led multiple product launches, built successful commercial franchises and contributed to various business development transactions.
Strategic Timing for Commercial Leadership
"Linda joining Altimmune marks a key strategic addition to our executive team as we approach the initiation of Phase 3 development of pemvidutide in MASH," said Vipin K. Garg, Ph.D., President and CEO of Altimmune. "To add a leader with her pedigree positions Altimmune, and pemvidutide, for future commercial success. Her deep expertise and strong track record will be instrumental to our strategic business execution and growth."
Richardson expressed confidence in pemvidutide's therapeutic potential, stating: "I believe that pemvidutide represents a rare opportunity in the area of hepato-metabolic disease and is differentiated from other marketed and development-stage therapies with significant potential to improve the lives of patients with MASH."
Extensive Commercial Experience in Relevant Therapeutic Areas
Richardson most recently served as Chief Commercial Officer and Executive Vice President at Intercept Pharmaceuticals, a liver disease company, departing in early 2024 following the company's acquisition by Alfasigma. Prior to Intercept, she held the position of Chief Strategy and Commercial Officer at Chimerix.
Her earlier career included senior-level marketing and commercial positions at major pharmaceutical companies. At Sanofi, she served as Global Commercial Head of Lixisenatide, the company's GLP-1 program, and Marketing Lead for MULTAQ and AUVI-Q. She also worked at Reliant Pharmaceuticals, where she launched Lovaza for hypertriglyceridemia, and at GSK. Richardson holds a bachelor's degree in English from the University of Pennsylvania.
Pemvidutide's Broad Therapeutic Potential
Altimmune's lead product candidate pemvidutide is a GLP-1/glucagon dual receptor agonist being developed for multiple indications. Beyond MASH, the company is investigating pemvidutide's potential utility in Alcohol Use Disorder (AUD) and Alcohol-associated Liver Disease (ALD), which Richardson described as "highly prevalent and underserved indications."
Richardson added: "Additionally, there are sizeable opportunities in Alcohol Use Disorder and Alcohol-associated Liver Disease where we continue to investigate the potential utility of pemvidutide in these highly prevalent and underserved indications. I am pleased to bring my experience to Altimmune and thrilled to begin leading Altimmune's commercial-readiness efforts."
Compensation Package
In connection with her appointment, Richardson will receive options to purchase 278,000 shares of Altimmune's common stock and 96,000 restricted stock units (RSUs). The options will have an exercise price equal to the closing price of Altimmune's common stock on September 16, 2025.
Based on the closing price of Altimmune's common stock on September 12, 2025, the company would issue approximately 168,112 options as inducement awards under its 2018 Inducement Grant Plan, with the balance as incentive stock options under its 2017 Omnibus Incentive Plan. One-fourth of the shares underlying the options will vest on the one-year anniversary of the grant date, with monthly vesting thereafter until full vesting on the fourth anniversary.
The RSUs will vest over four years, with one-fourth vesting on the one-year anniversary and the remainder vesting in three substantially equal annual installments. All equity awards are subject to Richardson's continued employment with Altimmune and were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
