While their share prices have traveled different paths recently, the similarity between the two companies is striking.Altimmune (ALT 4.15%) and Viking Therapeutics (VKTX 4.41%) have a lot of features in common, but, at least for the moment, the performance of their stocks is not one of them. Whereas Viking's shares are up by 610% over the last three years, Altimmune's are down by 54%.However, there's more than one argument for why Altimmune's next act could look a lot more like Viking's trajectory. So let's ...

Core Viewpoint - A class action lawsuit has been filed against Altimmune, Inc. by shareholders, alleging that the company misled investors regarding its business operations and the potential of its lead product candidate, pemvidutide [1][2]. Group 1: Allegations and Misleading Statements - The lawsuit claims that Altimmune overstated the potential of pemvidutide compared to competing GLP-1 agonists based on efficacy and tolerability results from the MOMENTUM Trial [2]. - 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 [2]. - The lawsuit asserts that Altimmune's public statements were materially false and misleading, leading to investor damages when the true details emerged [2]. Group 2: Legal Proceedings and Participation - Shareholders wishing to serve as lead plaintiffs must file motions by July 5, 2024, and can participate in the class action without being actively involved in the case [1][3]. - The representation in the class action is on a contingency fee basis, meaning shareholders incur no fees or expenses unless there is a recovery [3].

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 ...