Why Are Altimmune Shares Trading Lower Wednesday?

Altimmune, Inc. (NASDAQ:ALT) shares are experiencing significant movement lower following the unexpected passing of Richard Eisenstadt, the company’s chief financial officer.

What To Know: Eisenstadt’s sudden death has deeply saddened Altimmune, with CEO Vipin K. Garg highlighting his contributions and personal qualities that endeared him to colleagues.

In response to Eisenstadt’s passing, Altimmune’s finance and accounting functions are temporarily being managed by the existing team while the company initiates a search for his replacement. This transition period aims to maintain stability amid the loss of a key executive.

Altimmune is a clinical-stage biopharmaceutical firm specializing in next-generation peptide-based therapeutics, notably developing pemvidutide for treating obesity and non-alcoholic steatohepatitis (NASH). The company remains committed to advancing its pipeline despite this unexpected setback.

ALT Price Action: Altimmune shares were down at market close Wednesday by 15.59% at $6.26, according to Benzinga Pro.

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