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Today's Research Reports on Trending Tickers: Altimmune and Johnson & Johnson

NEW YORK, NY / ACCESSWIRE / November 23, 2018 / It was an eventful day of trading for Altimmune which saw gains of almost 10% despite any significant news. Shares of Johnson & Johnson were dragging lower after a U.S. appeals court refused to stop generic versions of its prostate-cancer drug Zytiga from entering the market. Wednesday’s losses were the most the stock had seen since February.

The Market Edge Initiates Coverage on:

Altimmune, Inc.

Johnson & Johnson

Altimmune, Inc. shares closed up nearly 10% on about 3.9 million shares traded on Wednesday. There was no immediate news from the company but it was earlier this month that the clinical-stage immunotherapeutics company reported third quarter financial results and also announced additional positive data from its Phase 2a clinical study of its NasoVAX intranasal influenza vaccine candidate. William J. Enright, Chief Executive Officer of Altimmune said, "The proceeds provided by our recent financings will allow us to invest significantly in the development of NasoVAX and to support our Company going forward. Our developing pipeline and novel approaches to vaccines are quite differentiated from other approaches making these large markets attractive opportunities for Altimmune.”

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Johnson & Johnson shares were down 3% Wednesday on about 10.2 million shares traded after U.S. appeals court declined a request by Johnson & Johnson for a temporary restraining order, blocking sales of generic versions of its blockbuster drug Zytiga for prostate cancer in the U.S market. It was on November 2nd that Mylan NV said in a filing with the Federal Circuit that the courts were the only thing preventing the company from starting sales. Mylan, as well as Teva Pharmaceutical Industries Ltd. and Hikma Pharmaceuticals Plc have all received final approval from the U.S. Food and Drug Administration. Johnson & Johnson is appealing a trial judge’s ruling that invalidated a patent on the medicine.

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Our Actionable Research on Altimmune, Inc. (NYSE : ALT ) and Johnson & Johnson (NYSE : JNJ ) can be downloaded free of charge at The Market Edge.

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SOURCE: MarketEdgeReport