BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Altimmune, Inc. (“Altimmune” or the “Company”) (NASDAQ: ALT) investors concerning the Company’s possible violations of federal securities laws.
On February 13, 2024, Kerrisdale Capital published a report alleging, among other things, that “a deeper examination of Altimmune’s data reveals a drug with little chance of competing against either the approved incumbents or the other GLP-1 agonists progressing through clinical trials.” The report further stated that Altimmune’s weight loss drug was “not good enough” to compete with Ozempic or Mounjaro, which have “demonstrated superior weight-loss on a comparable basis, with the added benefit of controlling blood-sugar (which pemvidutide does not).”
On this news, Altimmune’s stock price fell $1.94, or 18.7%, to close at $8.46 per share on February 13, 2024, thereby injuring investors.
Then, on April 29, 2024, Bloomberg reported that Guggenheim Securities had downgraded Altimmune’s stock to neutral from buy, stating that the opportunity to successfully fund pemvidutide’s future as a treatment for obesity through a strategic partnership was “growing increasingly tenuous.”
On this news, Altimmune’s stock price fell $0.87, or 12%, to close at $6.39 per share on April 29, 2024, thereby injuring investors further.
If you purchased Altimmune securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com