• Yesterday, Altimmune Inc ALT announced results from a Part 1b trial evaluating pemvidutide (ALT-801), a novel glucagonlike peptide-1 (GLP-1) and glucagon twin receptor agonist in non-alcoholic fatty liver illness (NAFLD). 
  • Based on HC Wainwright, the outcomes have been ‘compelling.’
  • The analyst reiterates the $50 price target and Purchase score forward of the top-line knowledge launch for MOMENTUM.
  • Nonetheless, ALT shares plunged by virtually 30%, primarily owing to disappointment within the charge of weight reduction generated within the examine, the secondary goal within the trial.
  • Placebo-adjusted weight reduction in non-diabetic sufferers of 4.7% was lower than some traders had anticipated.
  • HC Wainwright believes this system stays on observe to generate 20%- plus weight reduction in non-diabetic overweight sufferers with a decrease liver fats content material than a standard NAFLD inhabitants. 
  • Because the Part 2 MOMENTUM trial is predicted to be absolutely enrolled by 4Q22 and generate an interim top-line knowledge launch after 24 weeks in 1Q23, it’s the extra vital de-risking occasion for the pemvidutide program. 
  • Worth Motion: ALT shares are down 6.50% at $13.46 on the final examine Friday.

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