Altimmune spikes after presenting data for obesity drug

Altimmune (NASDAQ:ALT) shares advanced on Tuesday after the company presented mid-stage results for its obesity candidate, pemvidutide, at a European medical event on diabetes in Madrid, Spain.

Citing data from its Phase 2 MRI-based body composition sub-study, MOMENTUM, the Gaithersburg, Maryland-based biotech said that pemvidutide, a dual GLP-1/glucagon dual receptor agonist, preserved lean mass in overweight and obese patients.

According to Altimmune (ALT), the lean loss ratio, which indicates the change in lean mass compared to total mass, stood at 21.9% in 50 subjects who received pemvidutide for 48 weeks.

Additionally, the drug was found to have a beneficial effect on visceral adipose tissue, which is associated with cardiovascular risk. According to the company, at the 2.4 mg dose, pemvidutide was linked to a 25.6% VAT reduction compared to a 20.1% reduction in subcutaneous adipose tissue.

The readout comes amid growing concerns over common side effects associated with popular weight loss drugs such as semaglutide and tirzepatide marketed by Novo Nordisk (NVO) and Eli Lilly (LLY) for weight loss.

“Given the breadth and diversity of the obesity patient population, there has been growing attention given to the quality of weight loss,” Altimmune’s (ALT) medical chief Scott Harris said.

“Our data demonstrates pemvidutide’s class-leading lean mass preservation, superior to that reported historically with diet and exercise.“