Luke Lango Issues Dire Warning

A $15.7 trillion tech melt could be triggered as soon as June 14th… Now is the time to prepare.

Tue, June 6 at 7:00PM ET

Why Is Altimmune (ALT) Stock Down 67% Today?

  • Altimmune (ALT) stock is sliding alongside clinical trial results.
  • The study covered the company’s weight loss drug for which the results were largely positive.
  • However, investors have concerns about adverse events from the study.
ALT Stock - Why Is Altimmune (ALT) Stock Down 67% Today?


Altimmune (NASDAQ:ALT) stock is losing value on Tuesday after the company released results from a clinical trial.

That trial has to do with the company’s treatment for obesity. The bad news for shareholders of ALT stock is the safety of the drug, pemvidutide, used in the Phase 2 clinical trial. Unfortunately, investors aren’t impressed.

That’s due to the adverse events of gastrointestinal (GI) events of nausea and vomiting present in the trial. This resulted in 24% of patients taking pemvidutide discontinuing the trial. The company notes that half of these discontinuations were specifically due to GI events.

Despite this, Altimmune is considering the clinical trial results positive. That’s due to the percentage of weight loss seen so far. This includes an 8.2%, 10.6% and 11.9% drops for the 1.2 mg, 1.8 mg and 2.4 mg groups. For comparison, the placebo group saw a 0.8% drop in weight.

How This Affects ALT Stock

That high turnover rate in the clinical trial isn’t sitting well with investors. In fact, it’s pulling ALT stock down today. As of this writing, some 5 million shares have changed hands as well. For the record, the company’s daily average trading volume is about 1.3 million shares.

ALT stock is down 53.1% as of Tuesday morning and down 66.9% since the start of the year.

Investors looking for more recent stock market news are in luck!

We’ve got all of the latest stock market coverage traders need for Tuesday! A few examples include what’s moving shares of Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), Plug Power (NASDAQ:PLUG) and First Republic Bank (NYSE:FRC) stock today. You can read up on all of this at the links below!

More Tuesday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Article printed from InvestorPlace Media,

©2023 InvestorPlace Media, LLC