Altimmune (ALT) To Begin Clinical Testing Of COVID-19 Vaccine In August

(RTTNews) - Shares of Altimmune Inc. (ALT), a clinical-stage biopharmaceutical company, are currently up a whopping 120 percent, following news that the Company has completed the design and synthesis of the vaccine against COVID-19 and is now advancing it toward animal testing and manufacturing.

The novel single-dose, intranasal COVID-19 vaccine candidate is based on Altimmune's proprietary technology - the same as NasoVAX, the Company's influenza vaccine candidate.

In a phase II study, NasoVAX has demonstrated the ability of intranasal vaccine delivery to stimulate a durable and broad immune response against the influenza virus.

Altimmune believes the clinical profile of influenza vaccine candidate NasoVAX is particularly relevant to COVID-19 because intranasal delivery directs the immune response where it is needed most to protect against respiratory infection, including the likely site of initial viral attack.

The Company's COVID-19 vaccine candidate is expected to move into clinical testing as early as August.

ALT has traded in a range of $1.51 to $5.94 in the past 1 year. As of this writing, the stock is up 120% at $3.90.