According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Altimmune overstated the potential for its lead product candidate, pemvidutide, a glucagon-like peptide-1 (“GLP-1”), to stand out from competing GLP-1 agonists based on the drug’s efficacy and tolerability results observed in evaluating pemvidutide for the treatment of obesity (the “MOMENTUM Trial”);
- accordingly, the MOMENTUM trial results were less significant to pemvidutide’s clinical, commercial, and competitive prospects than defendants had led investors to believe;
- as a result of all the foregoing, defendants had overstated Altimmune’s prospects for finding a strategic partner to develop pemvidutide; and
- as a result, Altimmune’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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