Altimmune Stock Rises Following CEO's CNBC Interview

Stocks of biopharmaceutical company Altimmune, currently in the clinical stage, surged by up to 23% following comments made by CEO Vipin Garg on CNBC. During the interview, Garg was asked about the possibility of a partnership that could lead to the acquisition of the company. He indicated that the nature of a partnership would depend on the value it could bring to the company’s assets.

Garg explained, “Depending on how the partnership comes together, our goal is to find a partner that can add full value to our assets.” He also differentiated between types of partnerships: “If it’s only related to obesity, that would be a partnership; if it encompasses the whole molecule, it could be structured differently.”

In addition to discussing potential partnerships, Garg emphasized the potential benefits of Altimmune's drug candidate, pemvidutide. Pemvidutide aims not only for weight loss but also to address certain comorbidities as a GLP-1/glucagon dual receptor agonist.

Garg pointed to the drug's capabilities to “de-fat” the liver, improve lipid levels, and preserve lean muscle mass, suggesting a broader therapeutic impact beyond weight management. The CEO’s outlook and the information shared appear to have been well-received by investors, leading to a noteworthy increase in Altimmune’s stock performance.