The market for weight loss medicines keeps getting hotter and hotter.For most of its existence, Altimmune (ALT 4.15%) has been a little-known biotech aspiring to compete in a world dominated by whales like Novo Nordisk (NVO -1.21%), the maker of the hit weight loss drug Wegovy and the blockbuster Ozempic for type 2 diabetes.But if management's three-word hunch about the company's lead program is right -- and there's at least one critical piece of evidence hinting that it is -- Wegovy's reign could face a se ...

NEW YORK, June 28, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Altimmune, Inc. (NASDAQ: ALT) between December 1, 2023 and April 26, 2024, both dates inclusive (the “Class Period”), of the important July 5, 2024 lead plaintiff deadline. SO WHAT: If you purchased Altimmune securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT T ...

NEW YORK, June 28, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Altimmune, Inc. (NASDAQ: ALT).Shareholders who purchased shares of ALT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/altimmune-inc-loss-submission-form/?id=87822&from=4CLASS PERIOD: December 1, 2023 to April ...

pidjoe/E+ via Getty Images The small biotech sector has underperformed the major indices in a major way so far in 2024. While the NASDAQ (COMP.IND) and S&P 500 (SP500) are both up in the mid-teens so far this year, the SPDR® S&P Biotech ETF (XBI) up just over three percent in 2024. It should be noted that AI juggernaut Nvidia Corporation (NVDA) has accounted for approximately a third of the gains in the major indices year to date. Seeking Alpha The small biotech arena should perform better as the Feder ...

Core Points - A shareholder class action lawsuit has been filed against Altimmune, Inc. alleging that the company made materially false and misleading statements regarding its business and prospects [1] - The lawsuit specifically claims that Altimmune overstated the potential of pemvidutide compared to competing GLP-1 agonists based on the results from the MOMENTUM Trial [1] - It is alleged that the results of the MOMENTUM Trial were less significant for pemvidutide's clinical and commercial prospects than what was communicated to investors [1] - The lawsuit also contends that Altimmune's prospects for finding a strategic partner to develop pemvidutide were overstated as a result of these misleading statements [1] Legal Context - Investors who purchased Altimmune shares between December 1, 2023, and April 26, 2024, and experienced significant losses are encouraged to discuss their legal rights [2] - The deadline for investors to request to be appointed as lead plaintiff in the case is July 5, 2024 [3] - Holzer & Holzer, LLC is representing the shareholders and has a history of recovering significant amounts for investors affected by corporate misconduct [3]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Altimmune, Inc. due to allegations of misleading statements regarding the efficacy and market potential of its drug pemvidutide, with a deadline for investors to seek lead plaintiff status in a federal securities class action by July 5, 2024 [1][3]. Group 1: Allegations Against Altimmune - The complaint alleges that Altimmune and its executives violated federal securities laws by making false and misleading statements about pemvidutide's competitive prospects and overstating the company's potential for finding a strategic partner [3]. - A report by Kerrisdale Capital criticized pemvidutide's chances of competing against existing GLP-1 agonists, stating that even a 15.6% weight loss is insufficient compared to competitors like semaglutide and tirzepatide, which also control blood sugar [4]. - Following the Kerrisdale Report, Altimmune's stock price dropped by $1.94, or 18.65%, closing at $8.46 per share on February 13, 2024 [4]. Group 2: Market Reactions and Analyst Opinions - On April 29, 2024, Guggenheim Securities downgraded Altimmune's stock from buy to neutral, citing an increasingly unlikely partnership for pemvidutide and highlighting the lack of a major partnership or M&A event as a significant concern [5]. - This downgrade led to a further decline in Altimmune's stock price by $0.87, or 11.98%, closing at $6.39 per share [5]. Group 3: Legal Proceedings - Investors who suffered losses exceeding $75,000 between December 1, 2023, and April 26, 2024, are encouraged to contact Faruqi & Faruqi to discuss their legal rights and options [1]. - The role of lead plaintiff in the class action is open to any member of the putative class who has the largest financial interest and is typical of class members [6].

GAITHERSBURG, Md., June 26, 2024 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced that Richard Eisenstadt, the Company’s Chief Financial Officer, passed away unexpectedly on Monday, June 24, 2024. “We are all shocked and saddened by Rich’s passing. On behalf of everyone at Altimmune, I extend our heartfelt condolences to his family during this difficult time,” said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. “Rich wa ...

GAITHERSBURG, Md., June 26, 2024 (GLOBE NEWSWIRE) -- Altimmune, Inc. (NASDAQ:ALT), a clinical-stage biopharmaceutical company, today announced that Richard Eisenstadt, the Company's Chief Financial Officer, passed away unexpectedly on Monday, June 24, 2024. "We are all shocked and saddened by Rich's passing. On behalf of everyone at Altimmune, I extend our heartfelt condolences to his family during this difficult time," said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. "Rich was ...

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Altimmune, Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements about its lead product candidate, pemvidutide, during a specified class period [1][2]. Group 1: Allegations - The complaint claims that Altimmune overstated the potential of pemvidutide compared to competing glucagon-like peptide-1 agonists based on the efficacy and tolerability results from the MOMENTUM Trial [1]. - It is alleged that the results of the MOMENTUM Trial were less significant for pemvidutide's clinical, commercial, and competitive prospects than what was communicated to investors [1]. - The lawsuit asserts that the company exaggerated its prospects for finding a strategic partner to develop pemvidutide, leading to materially false and misleading public statements [1]. Group 2: Class Action Details - The class period for the lawsuit is defined as December 1, 2023, to April 26, 2024, and shareholders are encouraged to register for participation [1][2]. - The deadline for shareholders to seek lead plaintiff status is July 5, 2024, and there is no cost or obligation to participate in the case [2]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit, fraud, and illegal business practices [3]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements or omissions that inflate stock prices [3].

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, June 24, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Altimmune, Inc. ("Altimmune" or the "Company") (NASDAQ: ALT) investors that a class action has been filed on behalf of investors. Altimmune investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw ...