Shares of Altimmune (NASDAQ:ALT), a clinical-stage biopharmaceutical company, saw a significant increase, rising up to 23% following remarks made by CEO Vipin Garg on CNBC.
During the interview, Garg was questioned about the possibility of Altimmune entering into a partnership that might lead to the company being acquired. He indicated that the nature of the partnership would depend on the value it could bring to the company's assets.
Garg clarified, "Depending on how the partnership comes together, our goal is to find a partner that can bring full value" to the assets. He further differentiated between the types of partnerships, stating, "If it is just obesity, it would be a partnership, if it’s the whole molecule, it could a different kind of structure."
In addition to discussing potential partnerships, Garg highlighted the potential benefits of Altimmune's drug candidate, pemvidutide. Pemvidutide is a GLP-1/glucagon dual receptor agonist that is not only aimed at weight loss but also at addressing certain co-morbidities.
Garg emphasized the drug's capabilities in "de-fatting" the liver, improving lipid levels, and preserving lean muscle mass, suggesting a broader therapeutic impact beyond weight management.
The CEO's appearance and the information shared seem to have resonated with investors, leading to a notable rise in Altimmune's stock market performance.
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