Deep Track reports 9.99% stake in Altimmune (ALT) via warrants and shares

Altimmune (NASDAQ:ALT) reported Phase II results for pemvidutide in alcohol use disorder. The WHO risk-drinking-level endpoint improved in 64.4% vs 34.8% on placebo (p=0.0049), and zero heavy drinking days increased with p=0.0066. PEth fell by 175.3 ng/mL vs unchanged on placebo (p=0.0001). Safety was generally tolerable; Phase III AUD discussions with regulators are next.

Altimmune said its RECLAIM Phase 2 trial of pemvidutide for moderate to severe alcohol use disorder met the primary endpoint, with 2.4 mg producing a statistically significant reduction in heavy drinking days per week versus placebo over 24 weeks (treatment effect 1.45 days). It also met secondary endpoints, and the company plans an End-of-Phase 2 meeting with the FDA. Shares rose 11.5% pre-open.

Altimmune Inc. (NASDAQ:ALT) shares rose 18% after it reported positive topline results from its RECLAIM Phase 2 trial of pemvidutide for alcohol use disorder. The study met its primary endpoint with a statistically significant reduction in heavy drinking days versus placebo (4.20 vs 2.75 per week at week 24, p=0.0014). Secondary endpoints and safety data were also favorable, and the company plans an FDA End-of-Phase 2 meeting.

A federal jury ordered Medtronic’s Covidien unit to pay $88 million to Larry and Tammy Patterson after finding surgeons were not adequately warned about risks of Covidien’s Symbotex hernia mesh. The Aug. 4 verdict followed a three-week trial in Massachusetts. Jurors awarded $77 million to Larry and $11 million for loss of consortium, with no punitive damages.

The article explains the U.S.-made Patriot mobile air defense system and why interceptor missile supplies are down. It cites Raytheon and Lockheed for system details and notes CSIS estimates about 65% of U.S. interceptors were expended Feb to July, leaving under 850. It says the U.S. approved 5,250 interceptors for Gulf states and awarded Lockheed a contract up to $58.6B.

Eaton (NYSE:ETN) said the U.S. Air Force Research Laboratory awarded it a $7 million, 24-month contract to use quantum computing, machine learning, and advanced visualization to improve power grid resilience and protection. The work, with Infleqtion and Penn State, targets detection and response to multiple concurrent physical and cyber threats, addressing NERC N-2 contingency requirements.