Biotech Values

[DewDiligence]

ALT -54% on purportedly-positive phase-2 obesity data for Pemvidutide:

https://www.globenewswire.com/news-release/2023/03/21/2631138/0/en/Altimmune-Announces-Positive-Results-from-Week-24-Interim-Analysis-of-Pemvidutide-MOMENTUM-Phase-2-Obesity-Trial-and-12-Week-Phase-1b-Type-2-Diabetes-Safety-Trial.html

ALT’s weight-loss efficacy data are no better than what patients are already achieving with approved GLP-1 drugs such as NVO’s Wegovy and LLY’s Mounjaro, and its safety/tolerability data may be worse. Hence, the Pemvidutide program looks like it won’t be competitive unless the phase-3 data are considerably better than the (interim) phase-2 data, which is pretty unlikely.