Altimmune appoints Teri Lawver and Jerry Durso to its Board of Directors to advance pemvidutide's development and commercialization.
Quiver AI Summary
Altimmune, Inc. announced the expansion of its Board of Directors with the appointments of Teri Lawver and Jerry Durso, who bring extensive experience in the biopharmaceutical industry. Lawver, formerly the Chief Commercial Officer at Dexcom and a Global Vice President at Johnson & Johnson, has nearly 30 years in healthcare, specializing in cardiovascular and metabolic diseases. Durso, who served as CEO of Intercept Pharmaceuticals and held leadership roles at Sanofi, has over 30 years of experience in corporate strategy and commercialization, particularly in liver disease. Both appointments are strategically timed as Altimmune progresses into late-stage clinical development for pemvidutide, a therapeutic candidate targeting obesity and liver diseases. The company's leaders express optimism that Lawver and Durso's expertise will be instrumental in advancing the pemvidutide franchise towards commercialization.
Potential Positives
- Altimmune expands its Board of Directors by appointing two highly experienced executives, Teri Lawver and Jerry Durso, which could enhance strategic guidance and governance as the company moves into late-stage clinical development for pemvidutide.
- Teri Lawver's extensive background in leading commercial strategies for large pharmaceutical portfolios, along with her experience in successful product launches, signifies potential for strengthened market positioning for pemvidutide.
- Jerry Durso's proven track record in building and commercializing biopharmaceutical franchises, particularly in liver disease, adds valuable expertise that could drive the success of pemvidutide's development and eventual market entry.
- Statements from both new board members express enthusiasm and confidence in pemvidutide’s therapeutic potential, which may bolster investor and stakeholder confidence in the company's future prospects.
Potential Negatives
- The announcement of new board members may raise questions about the need for such significant leadership changes at a critical stage in the company's development, potentially indicating underlying issues within the organization.
- While Teri Lawver and Jerry Durso have extensive experience, the reliance on their past successes may not guarantee future results for pemvidutide, leading to skepticism about the company's strategic direction.
- The focus on pemvidutide suggests that the company's future hinges on the success of this single product candidate, which could lead to vulnerabilities if it does not meet commercial expectations.
FAQ
Who are the new members of Altimmune's Board of Directors?
Altimmune welcomes Teri Lawver and Jerry Durso to its Board of Directors to enhance its strategic vision.
What is pemvidutide and why is it significant?
Pemvidutide is a GLP-1/glucagon dual receptor agonist for obesity and MASH, showing promising clinical results.
What experience do Teri Lawver and Jerry Durso bring?
Teri Lawver has extensive experience in cardiovascular and metabolic diseases, while Jerry Durso specializes in biopharmaceutical commercialization.
What are Altimmune's goals moving forward?
Altimmune aims to advance the pemvidutide franchise and transition toward a pre-commercial stage for product launch.
How can I learn more about Altimmune?
Visit www.altimmune.com for more information about the company and its innovative therapeutic developments.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ALT Hedge Fund Activity
We have seen 88 institutional investors add shares of $ALT stock to their portfolio, and 89 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- AMERIPRISE FINANCIAL INC added 1,378,854 shares (+35.6%) to their portfolio in Q4 2024, for an estimated $9,941,537
- CAPITAL FUND MANAGEMENT S.A. removed 726,829 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $5,240,437
- BLACKROCK, INC. added 693,211 shares (+12.7%) to their portfolio in Q4 2024, for an estimated $4,998,051
- VANGUARD GROUP INC removed 552,246 shares (-11.1%) from their portfolio in Q4 2024, for an estimated $3,981,693
- READYSTATE ASSET MANAGEMENT LP removed 486,738 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $2,988,571
- UBS GROUP AG added 437,100 shares (+154.8%) to their portfolio in Q4 2024, for an estimated $3,151,491
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 426,043 shares (-46.0%) from their portfolio in Q4 2024, for an estimated $3,071,770
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Ms. Lawver, former Chief Commercial Officer of Dexcom and Global Vice President at Johnson & Johnson responsible for billion-dollar Immunology and Cardiovascular & Metabolism Portfolios over her 20-year career
Mr. Durso led biopharmaceutical company focused on liver disease as former CEO of Intercept Pharmaceuticals, previously oversaw multiple blockbuster franchises including cardiovascular and diabetes during 22-year tenure at Sanofi
GAITHERSBURG, Md., Feb. 25, 2025 (GLOBE NEWSWIRE) --
Altimmune, Inc.
(Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced the expansion of its Board of Directors with the appointments of Teri Lawver and Jerry Durso.
“We are thrilled to welcome Teri and Jerry to our Board as we move into late-stage clinical development for pemvidutide and begin preparing for the transition to a pre-commercial-stage organization,” said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. “Teri’s deep expertise leading large organizations and global portfolios in cardiovascular and metabolic diseases and other therapeutic areas coupled with Jerry’s extensive leadership experience in biopharmaceutical commercialization and corporate strategy, particularly in liver disease, will be invaluable as we continue advancing the pemvidutide franchise. Teri and Jerry have overseen late-stage development, approvals and launches of multiple products during their distinguished careers. The breadth and depth of their executive and commercialization expertise will enhance our talented Board and will help guide the continued execution of our strategic vision to develop and commercialize pemvidutide.”
Teri Lawver is an accomplished healthcare executive with nearly 30 years of experience across the pharmaceutical, medical device and consumer health technology sectors. She most recently served as Executive Vice President and Chief Commercial Officer at Dexcom (Nasdaq: DXCM), where she led global commercial strategy and operations, including the launch of the industry’s first over-the-counter glucose biosensor. Prior to Dexcom, she spent two decades at Johnson & Johnson in a series of senior leadership roles spanning strategy, commercialization and executive management, including serving as Global Vice President for Janssen’s Cardiovascular & Metabolism therapeutic area and subsequently Worldwide Vice President for the Immunology business at Janssen Pharmaceuticals, where she had global commercial responsibility for Janssen’s $16 billion immunology portfolio and pipeline. Earlier in her career, she was an Associate Principal at McKinsey & Company, advising Fortune 100 healthcare companies on strategy and optimizing commercial operations. Ms. Lawver holds an MBA from Duke University’s Fuqua School of Business and a B.S. in linguistics from Georgetown University.
Ms. Lawver stated, “It is an honor to join Altimmune’s Board at such an exciting time in the Company’s evolution. Pemvidutide has shown what I believe to be compelling direct liver effects plus robust weight loss with significant lipid reductions and preservation of lean muscle mass. I am excited to work alongside the other Board members and the leadership team to continue advancing pemvidutide toward a potential commercial launch.”
Jerry Durso brings over 30 years of results-oriented leadership experience in the life sciences industry, with expertise in corporate and commercial strategy and business operations. He most recently served as Chief Executive Officer and a member of the Board of Directors of Intercept Pharmaceuticals, where he built a successful rare liver disease franchise and ultimately led the company through its successful acquisition by Alfasigma. Prior to his time at Intercept, Mr. Durso spent over two decades at Sanofi, where he held multiple senior leadership positions, including Chief Commercial Officer of the Company’s Global Diabetes Division, Chief Commercial Officer of its U.S. Pharmaceuticals business and Head of its U.S. Cardiovascular and Specialized Therapeutic Business Units. He holds a BBA in marketing from the University of Notre Dame.
Mr. Durso added, “Pemvidutide is a very exciting product candidate that not only drives significant liver defatting, but also has been shown to promote clinically meaningful weight loss and improvements in serum lipids, potentially offering a benefit across a range of liver and metabolic diseases. I look forward to contributing my late-stage clinical and commercial experience to work with the Board and the management team to help bring pemvidutide to patients in need.”
About Altimmune
Altimmune is a clinical-stage biopharmaceutical company focused on developing innovative next-generation peptide-based therapeutics. The Company is developing pemvidutide, a GLP-1/glucagon dual receptor agonist for the treatment of obesity and MASH. For more information, please visit
www.altimmune.com
.
Follow @Altimmune, Inc. on
LinkedIn
Follow @AltimmuneInc on
Twitter
Company Contact:
Greg Weaver
Chief Financial Officer
Phone: 240-654-1450
ir@altimmune.com
Investor Contact:
Lee Roth
Burns McClellan
Phone: 646-382-3403
lroth@burnsmc.com
Media Contact:
Danielle Cantey
Inizio Evoke, Biotech
Phone: 619-826-4657
Danielle.cantey@inizioevoke.com
This press release was published by a CLEAR® Verified individual.
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
