Altimmune stock (NASDAQ:ALT) stock went gangbusters on Wednesday as the company has been making a lot of recent moves that have been paying dividends.
About two weeks ago, the Gaithersburg, Maryland-based company said that its intranasal egg-free flu vaccine medication NasoVax yielded positive data from its Phase 2a study. The company had very positive results from a study of 60 healthy individuals, garnering 100% seroprotection at its two highest dose levels, while also neutralizing antibodies.
Altimmune’s vaccine candidate also proved to elicit a considerable T cell immune response when compared to Fluzone, which is a licensed injected influenza vaccine. The company has other irons in the fire as its Phase 1-stage HepTcell has been successful so far.
The product is designed to treat the hepatitis B virus (HBC) infection. Altimmune also has an anthrax vaccine, as well as a cancer immunotherapeutic product in Oncosyn that it is developing at the moment.
The company also announced and completed a 1:30 reverse split of its common shares last week. At the end of June, Altimmune had $4.2 million in quick assets, while its operations amassed $3.2 million during the company’s first half of the fiscal year.
ALT stock was skyrocketing about 285.5% on Wednesday following all of the company’s positive moves over the last couple of weeks. Shares tapered slightly after the bell, declining 2.2%.