Altimmune (ALT) Weight Loss Drug Development Issues Case

• $ALT stockholder filed a claim vs. Altimmune for overstating pemvidutide's advantages and potential success.

• On February 13, 2024, Kerrisdale Capital's report caused $ALT to fall 18%, losing $137M+ in shareholder value.

• Affected $ALT investors may join the claim to be notified about potential recovery.

On February 13, 2024, Kerrisdale Capital released a report criticizing Altimmune, stating that their weight loss drug doesn't match up to existing options like Ozempic and Mounjaro in terms of effectiveness and blood sugar control.

On this news, $ALT fell 18.7% on February 13, 2024.

On April 29, 2024, Bloomberg reported Guggenheim Securities downgraded $ALT to neutral from buy, citing concerns about funding pemvidutide's development as an obesity treatment.

After that, $ALT fell 12% the same day.

Based on these events, $ALT stockholder filed a claim against Altimmune and its leaders, accusing them of the following:

• Altimmune exaggerated pemvidutide's advantages over similar drugs in the MOMENTUM Trial.

• Altimmune also overstated its likelihood of finding a strategic partner to develop pemvidutide.

Considering all the representations, investors have reasons to suspect that Altimmune overstated pemvidutide's advantages and potential success.

One of $ALT investors has already filed a claim vs. Altimmune in the District of Maryland court.