|Bid||0.0000 x 800|
|Ask||0.0000 x 900|
|Day's Range||2.0600 - 2.1400|
|52 Week Range||1.7000 - 36.2500|
|Beta (3Y Monthly)||2.18|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The Gaitherburg biotech’s CEO, not yet a year into his tenure, sees the prospect of more acquisitions or licensing deals going forward.
The deal puts Spitfire’s flagship product candidate — a treatment for nonalcoholic steatohepatitis, or NASH — into Altimmune’s pipeline of flu and anthrax vaccines.
The company’s future on the Nasdaq hangs in the balance, as its share price continues to sit below a buck in the wake of a delisting threat from the exchange.
Altimmune (NASDAQ: ALT ) shares are trading higher after the company announced it will acquire Spitfire Pharma , which will add a non-alcoholic steatohepatitis (NASH) drug candidate to the company's portfolio. ...
Shares of Altimmune Inc. soared 14% in premarket trading Tuesday, after the biopharmaceutical company announced a deal to buy Spitfire Pharma Inc., which is developing a treatment for non-alcoholic steatohepatitis, known as NASH. Altimmune will make an upfront payment of $5 million to Spitfire shareholders, who will also be eligible to receive an additional $8 million in regulatory and clinical milestones and up to $80 million in sales-based milestones. The deal is expected to close in July. Spitfire's NASH product candidate SP-1373 will be renamed ALT-801. "Compelling preclinical data generated by Spitfire suggests that ALT-801 could reverse obesity, a primary cause of NASH, thereby reducing excess liver fat, inflammation and fibrosis associated with the disease," said Altimmune Chief Executive Vipin Garg. Altimmune's stock has tumbled 21.1% over the past three months through Monday, while the iShares Nasdaq Biotechnology ETF has lost 4.3% and the S&P 500 has gained 3.4%.
Altimmune news concerning the results from a Phase 2 extension study of the company's NasoVAX has ALT stock heading higher today.Source: Shutterstock Altimmune (NASDAQ:ALT) says that it saw strong results from an extension to the study that has it checking in on patients one year after its completion. This includes 100% of patients that returned for the study extension still being seroprotected.The Altimmune news about its intranasal influenza vaccine candidate NasoVAX notes that patients in the extension were also saw a seroconversion rate that was unchanged from last year. It is also worth noting that these patients were from the highest dosage level of the study.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"We are excited about the continued positive NasoVAX results and believe that if approved, NasoVAX has the potential to capture a significant portion of the global flu vaccine market," Vipin Garg, Ph.D., President and CEO of Altimmune, said in a statement. "Based on the continued positive data, we are seeking development and commercialization partnerships for our NasoVAX program. This will allow us to focus on our strategy of building a pipeline of multiple early to mid-stage assets." * Top 7 Service Sector Stocks That Will Pay You to Own Them The original study from Altimmune about using NasoVAX as an influenza vaccine had 13 people receiving the highest dosage of the vaccine. All 13 were invited to return for the extension, but only eight chose to do so.ALT stock was up 15% as of noon Tuesday and is up 11% since the start of the year. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Altimmune News: ALT Stock Skyrockets on Positive Flu Vaccine Data appeared first on InvestorPlace.
The chief executive will stay in his role, and on the board, until his successor is appointed or early next year, whichever comes first.
According to Altimmune (NASDAQ:ALT), the company has entered into a purchase agreement with a several institutional investors. The common units include one common share of Altimmune stock, as well as a warrant to purchase an additional share for the same price. It also includes a warrant to purchase an additional share of ALT stock for a price of $5.39.
About two weeks ago, the Gaithersburg, Maryland-based company said that its intranasal egg-free flu vaccine medication NasoVax yielded positive data from its Phase 2a study. Altimmune’s vaccine candidate also proved to elicit a considerable T cell immune response when compared to Fluzone, which is a licensed injected influenza vaccine. Altimmune also has an anthrax vaccine, as well as a cancer immunotherapeutic product in Oncosyn that it is developing at the moment.