NEW
YORK, May 9, 2024 /PRNewswire/ -- Moore
Law, PLLC, a securities and shareholder law firm located on
Wall Street, is investigating potential claims against:
- Altimmune, Inc. (NASDAQ: ALT)
*please contact fletcher@fmoorelaw.com
The investigation concerns allegations of false and/or
misleading statements, as well as a failure to disclose material
facts, that: (i) Altimmune overstated the potential for pemvidutide
to stand out from competing GLP-1 agonists based on the drug's
efficacy and tolerability results observed in the MOMENTUM Trial;
(ii) accordingly, the MOMENTUM Trial results were less significant
to pemvidutide's clinical, commercial, and competitive prospects
than investors were led to believe; and (iii) as a result of all
the foregoing, defendants had overstated Altimmune's prospects for
finding a strategic partner to develop pemvidutide.
On February 13, 2024, Kerrisdale
Capital published a report alleging 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." On this news, Altimmune's
stock price fell $1.94 per share, or
18.65%, to close at $8.46 per share
on February 13, 2024.
Then, on April 29, 2024, Bloomberg
published an article entitled "Altimmune Down as Guggenheim Sees
Overhang in No Partnership," reporting that "Guggenheim Securities
downgraded [Altimmune's] stock to neutral from buy saying [a]
partnership for the biotech's lead asset pemvidutide look[s]
'increasingly unlikely.'" On this news, Altimmune's stock price
fell $0.87 per share, or 11.98%, to
close at $6.39 per share on
April 29, 2024.
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ABOUT MOORE LAW PLLC
Moore Law is a litigation law firm for investors seeking to
enforce their rights. We hold officers and directors accountable
for breaches of fiduciary duty, fraud, insider
trading, wasteful spending, and other corporate malfeasance. We
strengthen corporate governance reforms to better protect your
investments.
Fletcher Moore, Esq.
Moore Law, PLLC
fletcher@fmoorelaw.com
(212) 709-8245
www.fmoorelaw.com
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