Altimmune shares are trading lower after the company released lean mass preservation data for pemvidutide and worse-than-expected Q4 FY23 earnings.
Portfolio Pulse from Benzinga Newsdesk
Altimmune's stock price declined following the release of disappointing Q4 FY23 earnings and underwhelming lean mass preservation data for pemvidutide.
March 27, 2024 | 11:07 am
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NEGATIVE IMPACT
Altimmune's shares fell due to poor Q4 FY23 earnings and disappointing data for pemvidutide.
The decline in Altimmune's stock price is directly related to the negative earnings report for Q4 FY23 and the underwhelming results from their pemvidutide study. Poor financial performance and disappointing product data typically lead to a decrease in investor confidence, resulting in a drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100