24/7 Market News Snapshot 12 November, 2024 – Altimmune, Inc. Common Stock (NASDAQ:ALT)

November 12, 2024

DENVER, Colo., 12 November, 2024 (247marketnews.com) – (NASDAQ:ALT) are discussed in this article.
Altimmune, Inc. is currently experiencing notable momentum in the stock market, with its trading price rising from an opening of $7.405 to $8.761, reflecting a significant increase of 19.20% and demonstrating strong bullish sentiment among investors. The heightened trading volume of 1.44 million shares indicates increased market activity and participation. This technical breakout above key resistance levels suggests potential for further upward momentum, making it essential for investors to monitor patterns that could support continued bullish trends.

In parallel, Altimmune has announced the completion of patient enrollment in the Phase 2b IMPACT trial for pemvidutide, aimed at addressing metabolic dysfunction-associated steatohepatitis (MASH). This milestone positions the company for the anticipated top-line efficacy data, expected to be released in the second quarter of 2025. Dr. Vipin K. Garg, President and CEO, expressed optimism regarding this achievement, particularly following a successful End-of-Phase 2 meeting with regulatory authorities, which yielded a comprehensive agreement on the pivotal trial designs for pemvidutide’s Phase 3 obesity program.

Dr. Garg emphasized pemvidutide’s potential to provide significant weight loss and address obesity-related co-morbidities, reinforcing its innovative edge in the treatment landscape. The company is also preparing to submit Investigational New Drug (IND) applications for pemvidutide in three new indications by the fourth quarter of 2024, with trial initiation set for early 2025.

Moreover, recent data presented at the European Association for the Study of Diabetes highlighted pemvidutide’s ability to preserve lean mass while effectively decreasing visceral fat—a critical factor in mitigating cardiovascular risks. As of September 30, 2024, Altimmune’s financial position remains strong, with cash and short-term investments amounting to $139.4 million, positioning the company favorably for its forthcoming clinical initiatives and potential regulatory advancements.

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