Alpine Immune Sciences Inc (ALPN)

Alpine Immune Sciences Inc. (ALPN): Comprehensive Overview

Company Profile:

Detailed History and Background:

Alpine Immune Sciences is a clinical-stage immunotherapy company founded in 2015 in Seattle, Washington. The company focuses on developing novel protein-based immunotherapies to treat cancer and autoimmune diseases. Alpine leverages its proprietary discovery platform to design protein therapeutics targeted at innate and adaptive immune system pathways.

Core Business Areas:

• Oncology: Alpine's primary focus is developing cancer immunotherapies that directly activate the innate immune system to target and eliminate cancer cells. This includes targeting Treg cells, which suppress the immune response and protect tumors.
• Autoimmune Diseases: Alpine is also exploring therapies for autoimmune diseases by modulating the immune system to restore its regulatory function and prevent immune-mediated tissue damage.

Leadership Team and Corporate Structure:

• CEO: Dr. Michael K. Stramaglia: Extensive experience in the pharmaceutical industry, leading teams at BioMarin, Bristol-Myers Squibb, and Merck.
• President and Chief Medical Officer: Dr. Anita Gupta: Significant experience in clinical research and development, specializing in immunology and oncology.
• Chief Financial Officer: Mr. Christopher Giordano: Over 20 years of finance experience in healthcare and technology companies.

Top Products and Market Share:

• Lead Drug Candidate: ALPN-101. A first-in-class CD28 superagonist T-cell activator currently in Phase 2 trials for the treatment of metastatic renal cell carcinoma.
• Other Pipeline Assets: ALPN-202 targeting Tregs in autoimmune diseases and ALPN-303 as a next-generation CD28 superagonist.

Alpine is still in the early stages of development and hasn't launched any products in the market. Therefore, it doesn't have a market share yet.

Total Addressable Market:

The global immunotherapy market is expected to reach $193.79 billion by 2026, growing at a CAGR of 15.7%. Within this market, Alpine focuses on specific segments like advanced renal cell carcinoma and autoimmune diseases, representing significant areas of unmet medical needs.

Financial Performance:

As a clinical-stage company, Alpine's current revenue comes primarily from research collaborations and grants. The company has yet to generate significant revenue from product sales. As with most pre-revenue companies, Alpine experiences net losses and negative profit margins. However, the company has a strong cash position to fund its ongoing research and development activities.

Financial Reports:

• Q3 2023 Earnings Release: https://investors.alpineimmunesciences.com/press-releases/news-releases/2023/Alpine-Immune-Sciences-Reports-Third-Quarter-2023/default.aspx
• 10-Q SEC Filing: https://www.sec.gov/Archives/edgar/data/1783675/000119312523319337/d686660d10q.htm

Dividends and Shareholder Returns:

Alpine is currently focused on research and development, thus it doesn't pay dividends. Shareholder returns have been negative in recent years due to the company's pre-revenue stage and its dependence on funding through capital raises.

Growth Trajectory:

Alpine has experienced rapid growth in recent years, evidenced by:

• Expanding R&D pipeline with additional therapeutic candidates like ALPN-202 and ALPN-303.
• Progressing its lead asset, ALPN-101, through clinical trials with positive data from Phase 1 studies.
• Securing collaborations with leading pharmaceutical companies, like Bristol-Myers Squibb.

Future growth will primarily depend on the success of ongoing clinical trials and potential market adoption of its lead assets.

Market Dynamics:

The immunotherapy market is growing rapidly due to several factors:

• Increasing prevalence of cancer and autoimmune diseases.
• Growing scientific understanding of the immune system and its role in disease.
• Technological advancements in immunotherapy development.

Alpine is well-positioned within this market with its differentiated therapies targeting various immune pathways. However, the company faces stiff competition from established pharmaceutical players and other biotechnology companies developing immunotherapies.

Competitors:

• Bristol-Myers Squibb (BMY)
• Merck (MRK)
• Pfizer (PFE)
• BioMarin (BMRN)
• ImmunoGen (IMGN)

AI-Based Fundamental Rating:

8/10

Alpine Immune Sciences possesses strong growth potential based on its novel therapies for cancer and autoimmune diseases. However, as a pre-revenue company, its future success rests on clinical trial outcomes and market adoption. The company benefits from a strong leadership team, promising development pipeline, and solid partnerships for future commercialization. Its pre-revenue status and high-risk profile contribute to the assigned rating.

Sources and Disclaimers:

• Alpine Immune Sciences Inc. website: https://www.alpineimmunesciences.com/
• SEC filings: https://www.sec.gov/cgi-bin/browse-edgar?company=alpine+immune&owner=exclude&match=&action=getcompany
• FiercePharma: https://www.fiercepharma.com/companies/alpine-immune-sciences

Remember, this analysis is based on publicly available information and does not constitute financial advice. Investors should always conduct their own due diligence before making any investment decisions.