Altimmune’s fate turns around after longer look at obesity trial
Altimmune said a high dose of its weight loss injectable pemvidutide led to mean weight loss of 15.6% at week 48 in a Phase II trial, potentially giving the biotech new life in drug development’s hottest and most lucrative R&D field.
The data mark a turnaround for the Maryland biotech, whose shares sank 50% earlier this year when the 24-week data weren’t stellar enough to shoot past the effects of marketed drugs from Novo Nordisk and Eli Lilly, namely Wegovy and Zepbound, respectively. At that time, the biggest weight loss triggered by Altimmune’s drug was about 10.7%, and the safety profile seemed to also spook investors after nearly a quarter of patients on the drug dropped out.
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