Benzinga | Mar 12, 2021 06:10AM EST

Altimmune Shares Are Trading Higher On Expanded Manufacturing Pact With Lonza

Altimmune Inc (NASDAQ: ALT) has expanded its previously-announced manufacturing collaboration with Lonza Group (OTCMKT: LZAGY) for AdCOVID, its single-dose intranasal COVID-19 vaccine candidate.

* Under the expansion, Lonza will commission a dedicated manufacturing suite for clinical and commercial production of AdCOVID, at its facility near Houston, Texas.

* In December, the FDA issued a clinical hold on Altimmune's investigational New Drug application for AdCOVID. The agency requested certain protocol modifications and the submission of additional chemistry, manufacturing, and controls data.

* The recently commenced Phase 1 study with data readout is expected in the second quarter of 2021.

* Price Action: ALT shares gained 19.7% at $20.20 in the premarket trading on the last check Friday.