Business
Altimmune Announces Financial Results for the Year Ended December 31, 2018 and Provides Corporate Update
Conference call and webcast scheduled for tomorrow, Tuesday, April 2, at 8:30 am Eastern TimeGAITHERSBURG, Md., April 01, 2019 (GLOBE NEWSWIRE) -- Altimmune,
About this update from Altimmune, Inc.
[{"type":"text","content":"Conference call and webcast scheduled for tomorrow, Tuesday, April 2, at 8:30 am Eastern TimeGAITHERSBURG, Md., April 01, 2019 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq:ALT), a clinical-stage immunotherapeutics company, today announced financial results for the year ended December 31, 2018, and provided a corporate update.\"We made great progress in 2018, starting with encouraging data from our NasoVAX and HepTcell trials, re-capitalizing the Company, and bolstering the leadership team,\" said Vipin K. Garg, Ph.D., President and Chief Executive Officer.Dr. Garg continued, \"2019 is shaping up to be just as transformative as we advance HepTcell toward Phase 2 clinical development, perform proof-of-concept studies for ALT-702, pursue acquisitions of complementary immunotherapeutic assets, and seek a partner to advance NasoVAX. We are optimistic that focusing on the development of early to mid-stage product candidates that address significant unmet needs will lead to long-term success for Altimmune.\"Corporate UpdateLeadership team highlightsThe Board of Directors appointed Vipin K. Garg, Ph.D. as President and Chief Executive Officer. Vipin is a seasoned executive with over three decades of experience in the biotechnology and pharmaceutical industries and possesses a proven track record of building and managing both private and publicly traded companies.The Company engaged Will Brown as Acting Chief Financial Officer. He is responsible for all accounting and finance matters including equity offerings, SEC reporting, and investor relations. Will is a CPA with significant public accounting experience at PwC and was formerly a controller at Rheem, a multi-national manufacturing company.The Company hired José Ochoa as Chief Business Officer. Jose is leading all business development activities including acquisitions, in-licensing, partnerships and out-licensing. José comes to the Company with a wealth of experience including senior business development positions at IDT Biologika Corporation and Emergent BioSolutions.Corporate development highlightsThe Company fully retired its 2017 preferred shares and related warrants, and raised gross proceeds of $56 million, including from a registered direct offering in March 2019.The Company completed a comprehensive review of its clinical development pipeline with a strategic decision to focus ...