Why Altimmune Is Rising In Pre-market?

(RTTNews) - Altimmune (ALT) announced the FDA has granted Breakthrough Therapy Designation for pemvidutide, a 1:1 glucagon/GLP-1 dual receptor agonist, for the treatment of patients with metabolic dysfunction-associated steatohepatitis.

Jerry Durso, CEO of Altimmune, said: "With this breakthrough designation and alignment with the FDA on registrational Phase 3 trial parameters, we are laser-focused on strengthening the foundation of Altimmune to advance pemvidutide through late-stage development guided by our commitment to serve patients and create value for our stakeholders."

Shares of Altimmune are up 19.4% to $4.19 in pre-market trade on Monday.

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