Altimmune Inc (NASDAQ:ALT)
Altimmune Inc (NASDAQ:ALT) is a biotechnology company with offices in Maryland, USA, and London, England. In early May, Altimmune merged with Pharmathene and the resulting entity took the name, and ticker symbol, of Altimmune Inc (NASDAQ:ALT). Together, the companies will focus on developing therapies and treatments to address the immune responses for diseases as well as next-generation Anthrax vaccines. Yesterday shares of Altimmune Inc (NASDAQ:ALT) lost nearly 10% and closed at $3.54. Volumes were almost double their 30-day, daily trading average.
In early May, Altimmune Inc (NASDAQ:ALT) announced the promotion of Sybil Tasker, M.D., FACP, FIDSA, to the position of Chief Medical Officer. Dr. Tasker joined the company in April 2016 as Senior Vice President, Clinical Research and Development, with responsibility for overseeing Altimmune’s clinical research and development programs.
Bill Enright, President and Chief Executive Officer of Altimmune, stated, “Dr. Tasker has played a critical role in the advancement of our immunotherapeutic and vaccine product candidates, and we are delighted to recognize her contributions to our success during the past year. Her expertise in the treatment of infectious diseases and the clinical evaluation of novel vaccine candidates will be invaluable as we continue our NasoVAX™ influenza vaccine, NasoShield™ and Sparvax-L™ anthrax vaccines and HepTcell™ chronic hepatitis B immunotherapeutic development programs and advance our Oncosyn™ cancer immunotherapeutics into human clinical studies.”
No doubt that shareholders will be looking for Dr. Tasker to provide some urgency to produce results. Two weeks after Altimmune announced the Pharmathene merger, shares tanked. ALT shares had been trading over $32 but with six weeks were below $8.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.