Altimmune, Inc. — Director's Dealing 2010

May 20, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PHARMATHENE, INC (PIP)
CIK: 0001326190
Period of Report: 2010-05-17

Reporting Person: SCHAFFER DERACE L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-17	Common Stock, $0.0001 par value per share	P	16747	$1.4206	Acquired	757911	Direct
2010-05-18	Common Stock, $0.0001 par value per share	P	83253	$1.4981	Acquired	841164	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices
ranging from $1.34 to $1.45, inclusive. The reporting person undertakes to provide to PharmAthene, Inc., any security holder
of PharmAthene, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the
number of shares sold at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.

F2: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices
ranging from $1.45 to $1.50, inclusive.