WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Altimmune, Inc. (NASDAQ: ALT) resulting from allegations that Altimmune may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Altimmune securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=22535 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On February 13, 2024, market analyst Kerrisdale Capital released a report entitled “Altimmune Inc. (ALT): Fat Chance” (the “Report”). The Report stated, among other things, that “a deeper examination of Altimmune’s data reveals a drug [pemvidutide, formerly known as ALT-801] with little chance of competing against either the approved incumbents or the other GLP-1 agonists progressing through clinical trials.”

The Report also stated that “[b]oth semaglutide and tirzepatide (Ozempic and Mounjaro) have demonstrated superior weight-loss on a comparable basis, with the added benefit of controlling blood-sugar (which pemvidutide does not).” The Report further stated that “it gets worse: pemvidutide’s tolerability is atrocious. Despite conducting a trial that offered free and unfettered weight-loss medication amidst the Ozempic social frenzy, a third of pemvidutide trial participants – and 42% of patients taking the 2.4mg dose – discontinued treatment.” The Report summarily stated that “[t]he odds of this crew getting an edge over Novo Nordisk or Eli Lilly – with an inferior and intolerable drug – are slim.”

On this news, Altimmune’s stock price fell $1.94 per share, or 18%, to close at $8.46 per share on February 13, 2024, on unusually heavy trading volume.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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