Altimmune News: ALT Stock Rockets 110% on Coronavirus Vaccine News

Altimmune (NASDAQ:ALT) news for Monday includes positive news about a vaccine to treat the coronavirus from China have ALT stock soaring higher.

Altimmune News: ALT Stock Rockets 110% on Coronavirus Vaccine News

Source: Shutterstock

An Altimmune news release reveals that it has reached a milestone in developing its coronavirus vaccine. The company says that the design and synthesis of its new vaccine are complete.

According to the Altimmune news release, this means the company can move on to the next stages of development. That will have it testing out the new coronavirus vaccine on animals. If all goes well there, it won’t be long before it can start manufacturing the vaccine.

The new coronavirus vaccine from Altimmune is based on the same platform as its NasoVAX. This is an influenza vaccine candidate that the company is working on. The vaccine is designed to provide patients with immunity to the virus following a single intranasal dose.

The Altimmune news release notes that intranasal application of its vaccine could work well against the new coronavirus. This is due to the method providing direct protection to the respiratory system.

Vipin Garg, Ph.D., President and CEO of Altimmune, said this about the ALT stock news.

“With the spread of COVID-19 outside of China, including the first case of unknown origin in the United States, we have taken action to develop and make our vaccine technology available to help address this crisis.”

Altimmune notes that it may be able to start clinical testing for its coronavirus vaccine as early as August.

ALT stock was up 109.66% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC