Altimmune Added to Nasdaq Biotechnology Index

Rhea-AI Summary

Altimmune (Nasdaq: ALT) announced its addition to the Nasdaq Biotechnology Index (NBI) effective December 23, 2024. The company's CEO, Vipin K. Garg, highlighted this as an important recognition following a year of major progress. Looking ahead to 2025, the company anticipates significant milestones, including topline data from the Phase 2b IMPACT trial of pemvidutide in MASH expected in Q2. The NBI, established in 1993, tracks Nasdaq-listed biotechnology and pharmaceutical securities that meet specific eligibility criteria including market capitalization, trading volume, and seasoning requirements.

Positive

• Addition to Nasdaq Biotechnology Index (NBI) increases visibility and institutional exposure
• Phase 2b IMPACT trial topline data for pemvidutide expected in Q2 2025

Negative

• None.

GAITHERSBURG, Md., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced that it will be added to the Nasdaq Biotechnology Index (Nasdaq: NBI) effective prior to the market open on Monday, December 23, 2024.

“Our addition to the NBI is an important recognition to conclude what has been a year of major progress for the Company,” said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. “With a number of significant inflection points coming in 2025, including the topline data from the Phase 2b IMPACT trial of pemvidutide in MASH in the second quarter, we believe that we are well positioned heading into the new year.”

Established in 1993, the Nasdaq Biotechnology Index is designed to track the performance of a set of Nasdaq-listed securities that are classified as either Biotechnology or Pharmaceutical according to the Industry Classification Benchmark (ICB). Companies in the NBI must meet certain eligibility requirements, including market capitalization, average daily trading volume and seasoning. The Index is evaluated annually and serves as the basis for the iShares NASDAQ Biotechnology Index Fund (Nasdaq: IBB).

For more information about the NASDAQ Biotechnology Index, visit: https://indexes.nasdaqomx.com/Index/Overview/NBI.

About Pemvidutide

Pemvidutide is a novel, investigational, peptide-based GLP-1/glucagon dual receptor agonist in development for the treatment of obesity and MASH. Activation of the GLP-1 and glucagon receptors is believed to mimic the complementary effects of diet and exercise on weight loss, with GLP-1 suppressing appetite and glucagon increasing energy expenditure. Glucagon is also recognized as having direct effects on hepatic fat metabolism, which is believed to lead to rapid reductions in levels of liver fat and serum lipids. In clinical trials to date, once-weekly pemvidutide has demonstrated compelling weight loss with class-leading lean mass preservation, and robust reductions in triglycerides, LDL cholesterol, liver fat content and blood pressure. The U.S. FDA has granted Fast Track designation to pemvidutide for the treatment of MASH. Pemvidutide recently completed the MOMENTUM Phase 2 obesity trial and is being studied in the ongoing IMPACT Phase 2b MASH trial.

About Altimmune

Altimmune is a clinical-stage biopharmaceutical company focused on developing innovative next-generation peptide-based therapeutics. The Company is developing pemvidutide, a GLP-1/glucagon dual receptor agonist for the treatment of obesity and MASH. For more information, please visit www.altimmune.com.

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Company Contact:
Greg Weaver
Chief Financial Officer
Phone: 240-654-1450
ir@altimmune.com

Investor Contact:
Lee Roth
Burns McClellan
Phone: 646-382-3403
lroth@burnsmc.com

Media Contact:
Danielle Cantey
Inizio Evoke, Biotech
Phone: 619-826-4657
Danielle.cantey@inizioevoke.com

This press release was published by a CLEAR® Verified individual.

FAQ

When will Altimmune (ALT) be added to the Nasdaq Biotechnology Index?

Altimmune will be added to the Nasdaq Biotechnology Index (NBI) effective prior to market open on Monday, December 23, 2024.

When will Altimmune (ALT) release topline data for the pemvidutide MASH trial?

Altimmune expects to release topline data from the Phase 2b IMPACT trial of pemvidutide in MASH during the second quarter of 2025.

What are the requirements for joining the Nasdaq Biotechnology Index?

Companies must meet eligibility requirements including specific market capitalization thresholds, average daily trading volume requirements, and seasoning criteria.

What milestone events does Altimmune (ALT) expect in 2025?

Altimmune expects several significant inflection points in 2025, with the key milestone being the topline data from the Phase 2b IMPACT trial of pemvidutide in MASH in Q2 2025.