Altimmune Inc (NASDAQ:ALT) Expands Its Business Operations In Gaithersburg


Altimmune Inc (NASDAQ:ALT) is a company that focuses in the manufacture of vaccines. The business guru says it will expand its business presence in Gatihersburg and this is a major addition to the fast rising bio-technology industry in Montgomery County.

A close outlook

The company believes that the new 14,000 square foot building will be sufficient in undertaking the diverse business operations. Its recent merger with PharmAthene which lies in the Annapolis will help create more job opportunities.

With the added space, the company might soon add 45 new jobs. Altimmune Inc’s CEO Bill Enright thanks the county, the state and above all the City of Gaithersburg for the support and co-operation they have showcased so far. Currently, this company has $300,000 in economic incentive money which will help with the diversification of business operations.

The Maryland Department of Commerce sent out about $150,000 whereas Montgomery County on its part gave out $100,000.The City of Gaithersburg directed about $50,000 towards the expansion.

The turn of events

Altimmune, Inc says that the Phase 2a study is over and it already has the results. It was a study in line with NasoVAX intranasal influenza vaccine. The company obtained positive data and soon it will avail the product into the market. It hopes to help patients fight the various flu pandemics and flu epidemics as well.

Enright opined, “The Phase 2a data are highly encouraging, especially since antibody responses like this — with 100% seroprotection — are unique and have not been achieved with any other needle-free vaccines, including FluMist®.”

However, the official criticized the HepTcell study. Enright didn’t expect the inconclusive results but the management will keep evaluating the data at hand. There are plans underway to keep following the subject for over a period of 6 months. That is just protocol. It also seeks to evaluate its next steps after which it will move ahead to give the updates as per its own understanding.

Altimmune targets curbing infectious diseases such as cancer, chronic viral infections, acute respiratory infections and anthrax. The federal Biomedical Advanced Research and Development Authority has given its approval to the company to move ahead with the production of anthrax vaccine candidates.