Biotech Values

[jbog]

Altimmune weight-loss drug performed better than rivals, says JMP
ALT +48.58%Dec. 01, 2023 10:15 AM

JMP Securities said that recently released Phase 2 data for Altimmune’s (NASDAQ:ALT) drug candidate pemvidutide showed that it performed better in terms of weight loss than Novo Nordisk’s (NVO) blockbuster drug semaglutide, also known as Wegovy.

“Pemvidutide has a competitive profile based on the top-line MOMENTUM data with greater weight loss than semaglutide, better lipid changes and tolerability than tirzepatide, and better cardiac safety than retatrutide,” JMP wrote in its note Friday.

Tirzepatide is marketed by El Lilly under the name Mounjaro. Retatrutide, which is also being developed by Lilly (LLY), is in late-stage development. Semaglutide is marketed by Novo Nordisk for obesity as Wegovy and for diabetes as Ozempic.

The investment firm added it regards pemvidutide as a “blockbuster opportunity” for Altimmune. JMP has an outperform rating on the stock with a price target of $16.