Altimmune Board of Directors Appoints Jerry Durso as Chairman
Rhea-AI Summary
Altimmune (NASDAQ:ALT) has appointed Jerry Durso as Chairman of the Board of Directors, effective August 12, 2025. The appointment comes as the company prepares for Phase 3 development of pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH). Durso, who joined the Board in February 2025, succeeds Mitchel Sayare, Ph.D., who will continue serving as an Independent Director.
The leadership transition aligns with Altimmune's planned advancement of pemvidutide, with an End-of-Phase 2 Meeting with the FDA scheduled for Q4 2025. Durso brings over 30 years of life sciences industry experience, most recently serving as CEO of Intercept Pharmaceuticals, where he led the company's successful rare liver disease franchise and its acquisition by Alfasigma.
Positive
- None.
Negative
- Company still in clinical-stage with no commercialized products
- Pending FDA meeting outcome creates regulatory uncertainty
News Market Reaction – ALT
On the day this news was published, ALT declined 2.03%, reflecting a moderate negative market reaction. Argus tracked a peak move of +9.9% during that session. Our momentum scanner triggered 22 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $6M from the company's valuation, bringing the market cap to $313M at that time.
Data tracked by StockTitan Argus on the day of publication.
Appointment recognizes Mr. Durso’s extensive commercial expertise as Altimmune prepares for Phase 3 development of pemvidutide in MASH
Mitchel Sayare, Ph.D., to remain on the Board as Independent Director
GAITHERSBURG, Md., Aug. 11, 2025 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a late clinical-stage biopharmaceutical company developing novel peptide-based therapeutics for liver and cardiometabolic diseases, today announced that its Board of Directors has appointed Jerry Durso as Chairman, effective August 12, 2025. Mr. Durso succeeds Mitchel Sayare, Ph.D., who will continue to serve on the Board as an Independent Director.
The leadership transition is part of the Board’s ongoing succession planning and aligns with the Company’s planned advancement into Phase 3 development of pemvidutide in metabolic dysfunction-associated steatohepatitis (MASH). Altimmune expects to hold an End-of-Phase 2 Meeting with the FDA for MASH in the fourth quarter of 2025.
“On behalf of my fellow Directors, I extend our congratulations to Jerry on his appointment,” said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. “In a short time, Jerry has made a significant impact and I expect the value of his contributions to increase even further in this new role. I would also like to express our gratitude to Mitch for his leadership over the past seven years as Chairman. His guidance has been instrumental to our growth, and we look forward to his continued contributions as a valued member of the Board.”
“I am honored to succeed Mitch and assume the role of Chairman during this exciting stage at Altimmune as we work toward transitioning to a late clinical-stage company,” said Mr. Durso. “Pemvidutide has a compelling and differentiated therapeutic profile that was reinforced by the recent topline data from the IMPACT trial in MASH. I look forward to working closely with Vipin and the leadership team to support Altimmune’s strategy to advance pemvidutide, create value for our stakeholders and support the patient community.”
Dr. Sayare added, “Since joining the Board earlier this year, Jerry has contributed immeasurably to the ongoing evolution of our corporate strategy. As we prepare for Phase 3 development of pemvidutide in MASH, I believe this is the right time to shift the Board leadership to emphasize commercial and corporate development expertise. Jerry’s experience and successful track record make him exceptionally well suited to lead us through this next phase and I look forward to supporting him in my continued role on the Board.”
Mr. Durso joined the Board in February 2025 and 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 Chief Executive Officer and a member of the Board of Directors at Intercept Pharmaceuticals, where he built a successful rare liver disease franchise and ultimately led the company through its acquisition by Alfasigma. Prior to his time at Intercept, Mr. Durso spent over two decades at Sanofi, where he held multiple senior leadership positions, including Chief Commercial Officer of the Company’s Global Diabetes Division, Chief Commercial Officer of its U.S. Pharmaceuticals business and Head of its U.S. Cardiovascular and Specialized Therapeutic Business Units. He holds a BBA in marketing from the University of Notre Dame.
About Altimmune
Altimmune is a late clinical-stage biopharmaceutical company focused on developing novel peptide-based therapeutics for liver and cardiometabolic diseases. The Company’s lead program is pemvidutide, a GLP-1/glucagon dual receptor agonist for the treatment of MASH, Alcohol Use Disorder (AUD), Alcohol-Associated Liver Disease (ALD) and obesity. For more information, please visit www.altimmune.com.
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Forward-Looking Statement
Any statements made in this press release related to the development or commercialization of pemvidutide, an investigational product candidate, and other business 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, ALD and obesity, and the prospects for receiving regulatory approval or commercializing or selling any product or drug candidates and the impact of the 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.
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:
Jake Robison
Inizio Evoke, Biotech
Phone: 619-849-5383
Jake.robison@inizioevoke.com
This press release was published by a CLEAR® Verified individual.
FAQ
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