Altimmune, Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Altimmune, Inc. (NASDAQ: ALT) resulting from allegations that Altimmune may have issued materially misleading business information to the investing public.

If you purchased Altimmune securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Altimmune securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On February 13, 2024, market analyst Kerrisdale Capital released a report entitled “Altimmune Inc. (ALT): Fat Chance” (the “Report”). The Report stated, among other things, that “a deeper examination of Altimmune’s data reveals a drug [pemvidutide, formerly known as ALT-801] with little chance of competing against either the approved incumbents or the other GLP-1 agonists progressing through clinical trials.”

The Report also stated that “[b]oth semaglutide and tirzepatide (Ozempic and Mounjaro) have demonstrated superior weight-loss on a comparable basis, with the added benefit of controlling blood-sugar (which pemvidutide does not).” The Report further stated that “it gets worse: pemvidutide’s tolerability is atrocious. Despite conducting a trial that offered free and unfettered weight-loss medication amidst the Ozempic social frenzy, a third of pemvidutide trial participants – and 42% of patients taking the 2.4mg dose – discontinued treatment.” The Report summarily stated that “[t]he odds of this crew getting an edge over Novo Nordisk or Eli Lilly – with an inferior and intolerable drug – are slim.”

On this news, Altimmune’s stock price fell $1.94 per share, or 18%, to close at $8.46 per share on February 13, 2024, on unusually heavy trading volume.

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Company Name: Altimmune, Inc.
Stock Symbol: ALT
Class Period: N/A
Court: N/A

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