Al­tim­mune’s shares halved af­ter in­ter­im look at PhII weight loss drug da­ta

Al­tim­mune’s at­tempt to catch up to No­vo Nordisk and Eli Lil­ly’s GLP-1 drugs hit an in­vestor snag Tues­day af­ter the biotech shared in­ter­im Phase II weight loss da­ta.

The Mary­land biotech’s pemvidu­tide is a GLP-1/glucagon dual re­cep­tor ag­o­nist meant to ac­ti­vate GLP-1 re­cep­tors to squash ap­petite and glucagon to ramp up en­er­gy use. The 2.4 mg dose showed a place­bo-ad­just­ed weight loss of 9.7% at week 24 of 48, which Jef­feries an­a­lysts said would be com­pa­ra­ble to No­vo Nordisk’s semaglu­tide (We­govy) and Eli Lil­ly’s tirzepatide (Moun­jaro).

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