08:03 AM EDT, 06/17/2026 (MT Newswires) -- Altimmune ( ALT ) said in a filing Tuesday that it plans to relocate its headquarters to Morristown, New Jersey, later this year to help achieve cost efficiencies over the long term.

The company, which currently operates in Gaithersburg, Maryland, said it has signed a five-year lease for the New Jersey headquarters with annual rent payments of about $300,000, according to the filing with the US Securities and Exchange Commission.

The new location has a "strong presence" of biopharmaceutical companies, which is expected to help the company attract talent in its hybrid business model, Altimmune ( ALT ) said.

Shares of Altimmune ( ALT ) were up 1% in premarket activity Wednesday.