- Yesterday, Altimmune Inc OLD announced results from a phase 1b study evaluating pemvidutide (ALT-801), a novel glucagon-like peptide-1 (GLP-1) and glucagon dual receptor agonist in non-alcoholic fatty liver disease (NAFLD).
- Corresponding HC Wainwrightthe results were “convincing”.
- That Analyst reiterates $50 price target and Buy rating ahead of the release of top-line data for MOMENTUM.
- However, ALT shares plunged nearly 30%, largely due to disappointment with the study’s reported weight-loss rate, the study’s secondary goal.
- Placebo-adjusted weight loss in non-diabetics was 4.7%, less than some investors had anticipated.
- HC Wainwright believes the program remains on track to achieve greater than 20% weight loss in non-diabetic obese patients with lower liver fat levels than a traditional NAFLD population.
- With the Phase 2 MOMENTUM trial expected to be fully enrolled by Q4 22 and to generate an interim release of topline data at 24 weeks in Q1 23, this is the more significant risk mitigation event for the pemvidude program.
- Price promotion: ALT shares are down 6.50% to $13.46 on the last check Friday.
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