Altimmune surges after reporting positive Phase 2 results for flu vaccine candidate
Altimmune Inc (NASDAQ:ALT) soared Tuesday after reporting positive results from a Phase 2 extension study of its NasoVAX intranasal flu vaccine candidate.
The clinical-stage immunotherapeutics company said data from the study demonstrated that all of the evaluated subjects remained seroprotected from infection more than a year after vaccination.
Shares of Altimmune climbed 17% to $3.39 in Tuesday’s Nasdaq trading.
READ: Immunotherapeutics company Altimmune announces direct offering
“We are excited about the continued positive NasoVAX results and believe that if approved, NasoVAX has the potential to capture a significant portion of the global flu vaccine market,” Altimmune CEO Vipin K. Garg said in a statement. “Based on the continued positive data, we are seeking development and commercialization partnerships for our NasoVAX program.”
NasoVAX is an intranasally administered recombinant influenza vaccine that uses an adenovector to achieve expression of the flu antigen in the target cell. It potentially stimulates a broader and more rapid immune response than traditional flu vaccines, according to the Gaithersburg, Maryland, company.
Coupled with previously demonstrated mucosal antibody and T-cell related correlates of immunoprotection, NasoVAX is well-positioned to compete with other flu vaccines under development, according to Altimmune.
Contact Dennis Fitzgerald at [email protected]
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/216771/altimmune-surges-after-reporting-positive-phase-2-results-for-flu-vaccine-candidate-216771.html
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