Why Altimmune Stock Is Under Pressure Today
Shares of Altimmune (NASDAQ: ALT) dropped nearly 30% when the market opened on Tuesday. Investors are reacting to safety issues presented along with positive efficacy results for the company's lead candidate. Some of the losses have since been recovered, and the biotech stock was down 20.6% as of 10:46 a.m. EDT on Tuesday.
This morning, Altimmune revealed 12-week data from a phase 1 clinical trial with the company's lead candidate, pemvidutide, formerly known as ALT-801. This is a dual glucagon-like peptide-1 (GLP-1) receptor and glucagon receptor agonist designed to treat obesity.
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Source Fool.com
