Altimmune Inc (NASDAQ: ALT) is flying in the market today, and for good reason. The company announced positive clinical data surrounding a flu vaccine. As you could imagine, the news proved to be exciting for investors. Today, we’ll talk about:
- The data;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
ALT Rockets On Strong Clinical Data
As mentioned above, Altimmune is having an incredibly strong start to the trading session today after announcing positive clinical data. The data came by way of press release early this morning.
In the release, the company outlined data from a Phase 2 extension study of NasoVax. NasoVax is an intranasal influenza vaccine candidate.
In the release, ALT said that data from the study demonstrated that 100% of evaluated subjects remained seroprotected. Moreover the seroconversion rate was unchanged more than one year after vaccination.
The company said that patients in the highest dose group were invited to return as part of a study extension to evaluate duration of immunity. Of 15 subjects invited, 8 returned an average of 13.5 months after vaccination.
The data show that antibody titers for all 8 subjects remained seroprotective. Median hemagglutination inhibition titers were more than 3-times higher than the generally accepted seroprotective level.
The company said that coupled with previously demonstrated mucosal antibody and T-cell related correlates of immunoprotection, the treatment is well positioned to compete with other vaccines under development.
In a statement, Vipin K. Garg, Ph.D., President and CEO at ALT, had the following to offer:
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. Based on the continued positive data, we are seeking development and commercialization partnerships for our NasoVAX program. This will allow us to focus on our strategy of building a pipeline of multiple early to mid-stage assets. We are currently engaged in a rigorous acquisition review process focused on novel immunotherapeutic approaches for cancer, including immunostimulants and oncolytic viruses, and innovative product candidates for liver diseases. The proceeds from our recent successful financing efforts have put us in a strong position to execute our acquisition plans.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Altimmune, the news proved to be overwhelmingly positive.
After all, influenza vaccines on the market are losing efficacy. So, there’s a race to come up with an effective option, and it seems as though the company may have done just that.
Considering this, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:47), ALT is trading at $3.61 per share after a gain of $0.72 per share or 24.91% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ALT. In particular, we’re interested in following the story surrounding the company’s continued work to bring NasoVax to market as the vaccine is producing promising results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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