Investigation announced for Investors in shares of Altimmune, Inc. (NASDAQ: ALT) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Altimmune, Inc.

Investors who purchased shares of Altimmune, Inc. (NASDAQ: ALT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Altimmune, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Gaithersburg, MD based Altimmune, Inc., a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases.

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."

Shares of Altimmune, Inc. (NASDAQ: ALT) declined from $12.99 per share on January 10, 2024, to as low as $8.02 per share on February 13, 2024.

Those who purchased shares of Altimmune, Inc. (NASDAQ: ALT) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.