INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Altimmune Inc. to Contact Law Firm

PR Newswire

NEW YORK, May 9, 2024

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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