What is the story about?
What's Happening?
The Gross Law Firm has announced the filing of a securities class action on behalf of shareholders of Altimmune, Inc. The lawsuit is in response to a significant drop in Altimmune's stock price following the release of results from the IMPACT Phase 2b MASH trial. The trial, which aimed to assess the efficacy of Pemvidutide in treating MASH, failed to achieve statistical significance in its primary endpoint of fibrosis reduction. This failure was attributed to a higher-than-expected placebo response. As a result, Altimmune's stock price fell from $7.71 to $3.61 per share, marking a 53.2% decline. Shareholders who purchased shares during the class period from August 10, 2023, to June 25, 2025, are encouraged to contact the firm for potential lead plaintiff appointment.
Why It's Important?
This class action is significant as it highlights the impact of clinical trial results on pharmaceutical companies' stock prices and investor confidence. The failure to meet trial endpoints can lead to substantial financial losses for shareholders, prompting legal actions to recover investments. The lawsuit underscores the importance of transparency and accurate reporting in clinical trials, which can affect market perceptions and investor trust. The outcome of this case could influence how pharmaceutical companies communicate trial results and manage investor expectations.
What's Next?
Shareholders have until October 6, 2025, to register for the class action. Those who register will be enrolled in a portfolio monitoring software to receive updates on the case's progress. The Gross Law Firm aims to protect investors' rights and seek recovery for losses incurred due to misleading statements or omissions by Altimmune. The firm will continue to monitor developments in the case and provide updates to registered shareholders.
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