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Altimmune (ALT) Files IND for Phase I Study on Coronavirus Vaccine

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Altimmune, Inc. (ALT - Free Report) announced that it has submitted an investigational new drug (IND) application to the FDA for the clinical development of its COVID-19 vaccine candidate AdCOVID. The IND seeks to initiate a phase I study to evaluate the safety and immunogenicity of single-dose intranasal AdCOVID, which is being developed to stimulate an immune response in the nasal cavity and respiratory tract.

The company plans to begin the clinical study in the fourth quarter of 2020 while data from the same is expected in the first quarter of 2021.

Shares of Altimmune were up 9.1% following the above announcement on Wednesday. In fact, the stock has skyrocketed 433.8% so far this year against the industry’s decrease of 3.8%.

price chart for ALT

Per the company, AdCOVID is a next-generation vaccine that offers significant benefits compared to other vaccines, which are being studied to fight COVID-19. AdCOVID can be administered as a simple intranasal dose, which can specifically benefit children and can be stored in refrigerators for years. The vaccine is expected to have extended stability at room temperature and can be stored in common refrigerators for more than two years.

Notably, in preclinical studies, AdCOVID demonstrated robust mucosal immunity against the spike protein of the virus.

We note that several drugmakers are working relentlessly to develop a vaccine for the deadly coronavirus disease, which has so far infected 60.4 million people, globally, and killed more than 1.4 million already.

Many drug/biotechs are actively engaged in developing a vaccine to fight the COVID-19 pandemic. Notably, Vaxart (VXRT - Free Report) is evaluating its oral tablet VXA-CoV2-1, a COVID-19 vaccine candidate, in a phase I study. Other companies like CureVac (CVAC - Free Report) and Novavax (NVAX - Free Report) are also seriously pursuing the development of a vaccine against COVID-19.

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Altimmune currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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