Altimmune Announces CEO Transition and Succession Plan

Rhea-AI Summary

Altimmune (Nasdaq: ALT) announced a CEO succession: Jerry Durso will become President and Chief Executive Officer effective January 1, 2026, while retaining his role as Chairman. Vipin Garg, Ph.D. will step down as CEO and serve as an advisor through June 30, 2026.

The company highlighted progress of its lead candidate, pemvidutide (dual glucagon/GLP-1 agonist), described as Phase 3 ready for MASH. Altimmune expects to hold an End-of-Phase 2 meeting with the FDA later this quarter and to report 48-week IMPACT Phase 2b data before year-end, including NIT, weight loss, and safety data.

Positive

• CEO transition effective 01/01/2026 to an experienced liver-disease executive
• Dr. Garg advising through 06/30/2026 to support an orderly transition
• Pemvidutide Phase 3 ready for MASH with ongoing Phase 2 programs in AUD and ALD
• 48-week IMPACT Phase 2b data expected before year-end

Negative

• CEO will retain Chair role, concentrating leadership responsibilities

News Market Reaction

-6.27%

3 alerts

-6.27% News Effect

-6.0% Trough Tracked

-$37M Valuation Impact

$548M Market Cap

6K Volume

On the day this news was published, ALT declined 6.27%, reflecting a notable negative market reaction. Argus tracked a trough of -6.0% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $37M from the company's valuation, bringing the market cap to $548M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

CEO transition date: January 1, 2026 Advisor role end: June 30, 2026 Phase 2b duration: 48-week data +5 more

8 metrics

CEO transition date January 1, 2026 Effective date when Jerry Durso becomes President and CEO

Advisor role end June 30, 2026 Date through which Vipin Garg will advise the company

Phase 2b duration 48-week data IMPACT Phase 2b MASH trial readout expected before year end

Trial phase Phase 3 MASH program Planned Phase 3 program following End-of-Phase 2 FDA meeting

Industry experience More than 30 years Jerry Durso’s leadership experience in life sciences

FDA meeting End-of-Phase 2 meeting Scheduled with FDA later this quarter for MASH Phase 3 design

Pre-news price move -1.66% ALT 24h change before CEO transition article publication

52-week range $2.90–$9.95 ALT trading range prior to the CEO transition news

Market Reality Check

Price: $4.62 Vol: Volume 2,734,843 is at 0....

normal vol

$4.62 Last Close

Volume Volume 2,734,843 is at 0.82x the 20-day average of 3,349,085 shares. normal

Technical Shares at $5.34, trading above the 200-day MA of $4.68 and about mid-range of the $2.90–$9.95 52-week band.

Peers on Argus

Peers show mixed moves: TECX -3.04%, ALDX -4.57%, DSGN -2.33%, LRMR +1.26%, OCGN...

1 Down

Peers show mixed moves: TECX -3.04%, ALDX -4.57%, DSGN -2.33%, LRMR +1.26%, OCGN +7.44%. Momentum scanner only flagged CTNM at -4.36%, suggesting ALT’s reaction to the CEO transition was more stock-specific than sector-driven.

Common Catalyst One peer, Tectonic Therapeutic, also had news related to investor conference participation, but no broad biotech-wide catalyst appears.

Historical Context

5 past events · Latest: Dec 01 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 01	CEO succession	Neutral	-6.3%	Announced transition from Vipin Garg to Jerry Durso as CEO and advisor role.
Nov 26	Conference participation	Neutral	+0.6%	Management participation in Piper Sandler healthcare conference fireside chat webcast.
Nov 11	Clinical data publication	Positive	+0.5%	Lancet publication and AASLD presentation of 24-week IMPACT Phase 2b pemvidutide data.
Nov 07	AI fibrosis analysis	Positive	+4.3%	AI-based analysis showing significant fibrosis reduction in pemvidutide MASH trial.
Nov 06	Earnings and updates	Positive	+5.1%	Q3 2025 financials, strong cash position, and key pemvidutide clinical milestones.

Pattern Detected

Clinical and financial updates have recently been followed by positive price reactions, while the CEO transition headline on this date saw a notably negative move.

Recent Company History

Over the last month, Altimmune has highlighted steady progress for pemvidutide in MASH and related liver indications. On Nov 6, 2025, Q3 results showed strengthened liquidity and pipeline updates with a +5.07% reaction. Mid‑November news from AASLD and The Lancet on IMPACT Phase 2b data also drew positive responses. In contrast, the Dec 1, 2025 CEO succession announcement to Jerry Durso coincided with a -6.27% move, marking a deviation from the generally supportive reaction to recent clinical and financial milestones.

Regulatory & Risk Context

Active S-3 Shelf · $400,000,000

Shelf Active

Active S-3 Shelf Registration 2025-11-13

$400,000,000 registered capacity

An active Form S-3/A shelf dated Nov 13, 2025 registers up to $400,000,000 of mixed securities. It was not yet effective and had 0 recorded usages, with any future offerings requiring an effective registration and prospectus supplement. Proceeds are designated for general corporate purposes, including research, clinical development, working capital, and capital expenditures.

Market Pulse Summary

The stock moved -6.3% in the session following this news. A negative reaction despite the orderly su...

Analysis

The stock moved -6.3% in the session following this news. A negative reaction despite the orderly succession plan fits the earlier -6.27% move recorded on this same CEO transition headline, suggesting leadership changes have been viewed cautiously. The market may have focused on execution risk around a Phase 3–ready MASH program and commercialization shift. An unused $400,000,000 shelf registration also left open the possibility of future equity or mixed security offerings, which can weigh on sentiment regardless of clinical momentum.

Key Terms

glucagon, glp-1 receptor agonist, phase 2b, non-invasive test, +3 more

7 terms

glucagon medical

"Pemvidutide is a balanced 1:1 dual glucagon and GLP-1 receptor agonist"

A hormone produced by the pancreas that raises blood sugar by prompting the liver to release stored sugar, acting like the body’s quick energy alarm. For investors, glucagon is important because it is both a key target for diabetes treatments and an approved emergency drug for severe low blood sugar, so changes in clinical data, approvals, manufacturing or demand can affect pharmaceutical and medical-device companies' revenue and valuation.

glp-1 receptor agonist medical

"dual glucagon and GLP-1 receptor agonist, which has demonstrated meaningful reductions"

A GLP-1 receptor agonist is a medicine that mimics a natural gut hormone to trigger insulin release, slow stomach emptying, and curb appetite — like using a key to turn on a lock that controls blood sugar and hunger signals. For investors, these drugs matter because they treat common conditions such as diabetes and obesity, can drive large prescription and sales growth, reshape healthcare costs, and heavily affect drug pipelines, competition and company valuations.

phase 2b medical

"report 48-week data from the IMPACT Phase 2b trial before year end"

Phase 2b is a stage in the development of a new medicine or treatment where researchers test its effectiveness and safety in a larger group of people. This step helps determine whether the treatment works well enough to move forward and if it has manageable side effects, which is important for investors because successful results can lead to potential approval and market opportunity.

non-invasive test medical

"will include updated non-invasive test (NIT) and weight loss data"

A non-invasive test is a medical test that gathers health information without cutting into the body or inserting instruments into internal cavities, using tools like scans, blood draws, swabs, or external sensors. For investors, these tests matter because they can lower development costs, speed market adoption, reduce regulatory and safety risks, and expand potential patient pools—think of diagnosing a problem by listening to the engine rather than taking it apart.

end-of-phase 2 meeting regulatory

"scheduled End-of-Phase 2 meeting with U.S. Food and Drug Administration (FDA)"

An end-of-phase 2 meeting is a formal discussion between a drug developer and a regulatory agency to review mid-stage clinical results and agree on the plan and requirements for the larger, final tests needed for approval. It matters to investors because the meeting can clarify what evidence regulators will require, shape the cost and timeline for the next phase, and reduce uncertainty about whether a drug can advance toward market — like a checkpoint that determines whether a project gets the green light to move to the next, expensive stage.

u.s. food and drug administration regulatory

"meeting with U.S. Food and Drug Administration (FDA) to align with the Agency"

The U.S. Food and Drug Administration is the federal agency that evaluates and enforces safety, effectiveness and labeling standards for medicines, medical devices, vaccines, food and related products before they reach consumers. For investors it matters because FDA approvals, warnings or recalls determine whether a product can be sold, how quickly it reaches the market and how costly compliance will be—changes that directly affect a company’s revenue, costs and stock value.

alcohol-associated liver disease medical

"Phase 2 clinical programs in alcohol use disorder (AUD) and alcohol-associated liver disease (ALD)"

Alcohol-associated liver disease is damage to the liver caused by prolonged heavy alcohol use, ranging from fat buildup and inflammation to permanent scarring (cirrhosis) or liver failure. It matters to investors because its prevalence and severity drive demand for medical tests, hospital care, drugs and medical devices, and influence health-care costs, regulatory attention, and workforce productivity—similar to how a failing engine raises repair bills and reduces a vehicle’s usefulness.

AI-generated analysis. Not financial advice.

Jerry Durso, accomplished industry leader, to succeed Vipin Garg, Ph.D. as Chief Executive Officer

Transition follows seven years of strong leadership by Dr. Garg

GAITHERSBURG, Md., Dec. 01, 2025 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company developing novel peptide-based therapeutics for liver and metabolic diseases, today announced a CEO succession plan under which Vipin Garg, Ph.D. will step down as the Company’s President and Chief Executive Officer effective January 1, 2026. Altimmune’s Chairman of the Board, Jerry Durso, will assume the role of President and Chief Executive Officer and retain his position as Chairman. To facilitate a smooth transition, Dr. Garg will serve as an advisor to the Company through June 30, 2026.

Since 2018, Dr. Garg has guided Altimmune into becoming an agile, clinical-stage company. During his tenure, the Company’s lead pipeline candidate, pemvidutide, advanced from a preclinical molecule to a Phase 3 ready program in metabolic dysfunction-associated steatohepatitis (MASH), with ongoing Phase 2 clinical programs in alcohol use disorder (AUD) and alcohol-associated liver disease (ALD).

“Serving as CEO of Altimmune over the last seven years has been an honor and privilege. I am incredibly proud of what our team has accomplished together and am grateful to have had the opportunity to work alongside a highly dedicated and talented group of people who joined me in establishing pemvidutide as the foundation of the Company’s pipeline and current clinical programs,” said Vipin Garg., Ph.D., Chief Executive Officer of Altimmune. “Pemvidutide presents an opportunity to change the standard of care for people with liver disease and Jerry is exceptionally well-suited to drive this program and Altimmune forward. He brings deep experience as a CEO of a liver disease focused company and a long track record of success leading clinical growth and commercialization.”

Pemvidutide is a balanced 1:1 dual glucagon and GLP-1 receptor agonist, which has demonstrated meaningful reductions in liver inflammation and fibrosis, and significant weight loss with impressive tolerability in patients with MASH. Later this quarter, Altimmune has a scheduled End-of-Phase 2 meeting with U.S. Food and Drug Administration (FDA) to align with the Agency on its proposed trial design and study endpoints for a Phase 3 MASH program. The Company expects to report 48-week data from the IMPACT Phase 2b trial before year end, which will include updated non-invasive test (NIT) and weight loss data along with safety and other related data.

“I am very excited to step into the role of CEO as Altimmune embarks on its next phase of growth and prepares to transition to a late-stage clinical company looking toward commercialization. I see significant potential for pemvidutide to bring unique benefits to patients with liver disease and look forward to leading the team and focusing on creating value for all of our stakeholders,” said Jerry Durso, Chair of the Board of Directors of Altimmune.

“I have great admiration for Vipin and the contributions he has made to Altimmune during his years with the Company. The solid scientific and financial footing of the Company today is a direct result of his leadership. In particular, the advancement of Altimmune’s program for MASH, with several important milestones expected before year-end, including additional clinical data and regulatory interactions. I am encouraged by the future of Altimmune and the potential to improve the lives of those with liver disease,” continued Mr. Durso.

Jerry Durso brings more than 30 years of results-oriented leadership experience in the life sciences industry, with deep expertise in corporate and commercial strategy, business development and operations. He most recently served as the Chief Executive Officer and a member of the Board of Directors of Intercept Pharmaceuticals, a company focused in liver diseases, where he built a successful rare disease franchise, transformed the corporate strategy and ultimately led the company through its successful acquisition by Alfasigma. Prior to his time at Intercept, Mr. Durso spent over two decades at Sanofi, where he oversaw multiple blockbuster franchises while holding senior leadership positions, including Chief Commercial Officer of the company’s Global Diabetes Division and Chief Commercial Officer of its U.S. Pharmaceuticals business. Mr. Durso was appointed to Altimmune’s Board of Directors in February 2025 and was named Chairman of the Board in August 2025.

About Altimmune
Altimmune is a late clinical-stage biopharmaceutical company developing novel peptide-based therapeutics for liver and metabolic diseases. The Company’s lead product candidate is pemvidutide, a glucagon/GLP-1 dual receptor agonist for the treatment of metabolic dysfunction-associated steatohepatitis (MASH), alcohol use disorder (AUD) and alcohol-associated liver disease (ALD). For more information, please visit www.altimmune.com.

Forward-Looking Statements
Any statements made in this press release related to the development or commercialization of pemvidutide, an investigational product candidate, and other business, regulatory and financial matters including without limitation, clinical trial study design, status, correspondence, results and data, the timing of key milestones for the Company’s clinical assets, future plans or expectations for pemvidutide for the treatment of MASH, AUD, and ALD, the prospects for receiving regulatory approval or commercializing or selling any product or drug candidates and the impact of changes to our leadership and governance structure, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to Altimmune, Inc. may identify forward-looking statements. The Company cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements, or historical experience include risks and uncertainties, including risks relating to: delays in regulatory review, manufacturing and supply chain interruptions, access to clinical sites, enrollment, adverse effects on healthcare systems and disruption of the global economy; the reliability of the results of studies relating to human safety and possible adverse effects resulting from the administration of the Company's product candidates; the Company's ability to manufacture clinical trial materials on the timelines anticipated; and the success of future product advancements, including the success of future clinical trials. Further information on the factors and risks that could affect the Company's business, financial conditions and results of operations are contained in the Company's filings with the U.S. Securities and Exchange Commission, including under the heading "Risk Factors" in the Company's most recent annual report on Form 10-K, quarterly report on Form 10-Q and the Company’s other filings with the SEC, which are available at www.sec.gov. 

Investor Contact:
Lee Roth
Burns McClellan
lroth@burnsmc.com

Media Contact:
Savannah Valade
Real Chemistry
altimmune@realchemistry.com

FAQ

When does Jerry Durso officially become CEO of Altimmune (ALT)?

Jerry Durso will assume the role of President and CEO effective January 1, 2026.

How long will Vipin Garg remain involved with Altimmune (ALT) after stepping down as CEO?

Vipin Garg will serve as an advisor to Altimmune through June 30, 2026.

What is the status of pemvidutide for Altimmune (ALT) in MASH as of December 1, 2025?

Pemvidutide is described as Phase 3 ready for MASH with ongoing Phase 2 programs in AUD and ALD.

When will Altimmune (ALT) meet the FDA on its MASH program?

Altimmune has a scheduled End-of-Phase 2 meeting with the FDA later this quarter to align on Phase 3 design and endpoints.

When will Altimmune (ALT) report the 48-week IMPACT Phase 2b data?

The company expects to report 48-week IMPACT Phase 2b data before year-end, including NIT, weight loss, and safety data.