Obesity-Drug Developer Altimmune Sinks on Short-Seller Report
- Altimmune drops as much as 19% Tuesday after short report
- Drug developer had pursued Covid-19 vaccine without success
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After falling short in its pursuit of a Covid-19 vaccine, Altimmune Inc. is poised to disappoint investors once again, this time with its experimental weight-loss drug, according to a short report.
Shares of the biotechnology company tumbled 19% on Tuesday, after Sahm Adrangi’s Kerrisdale Capital Management revealed a new short position.