After soaring on Tuesday, ALT stock is trading down nearly 10% on Wednesday. Yesterday’s results came after Altimmune Inc. (NASDAQ:ALT) announced positive Phase 2 results for its flu vaccine candidate.
ALT Stock Today
On March 19th, Altimmune Inc., which is a clinical-stage immunotherapeutics company, reported positive results for its Phase 2 trial. According to the company, all of the evaluated subjects in its study were seroprotected from infection for over a year after they were initially vaccinated.
Addressing the results, the CEO of Altimmune Inc., Vipin K. Garg, said the following: “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.”
NasoVAX is Altimmune’s influenza vaccine candidate, and it is an intranasally administered vaccine. According to the company, NasoVAX causes a more rapid immune response than conventional flu vaccines.
Garg, who has been with the company since November of last year, also said: “Based on the continued positive data, we are seeking development and commercialization partnerships for our NasoVAX program.”
On the news, ALT stock jumped up 13%. Today, however, is a little different.
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According to Yahoo Finance, as of 1:52 PM, ALT stock is trading at $2.99, putting it down 9.94%. ALT stock is a Yahoo Finance trending ticker of the day.
What Do You Think?
The positive study results are certainly going to benefit Altimmune, especially if NasoVAX gets the green light. So why did ALT stock drop as much as it has today? Let us know what you think in the comments below.
For Those Who Don’t Know
Altimmune Inc. is based in Gaithersburg, Maryland. It is a company that focuses on developing products that prevent and treat diseases. What’s notable is that the company designs and develops immunotherapeutic products that address several diseases, from cancer to chronic and acute infections.
Featured image: DepositPhotos © Alex011973
