Positive Topline Results for Altimmune in Obesity Drug Trial; Shares up 41% in Morning Trading

Altimmune, Inc. (Nasdaq: ALT) has reported positive topline results from its 48-week MOMENTUM Phase 2 obesity trial of pemvidutide. Over 50% of subjects achieved at least 15% weight loss and over 30% of subjects achieved at least 20% weight loss on the 2.4 mg dose. The company’s share price rose more than 40% in morning trading on Friday.

Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune, said, “This is an important day for Altimmune and we couldn’t be more pleased with these results. We believe the magnitude of weight loss, robust reductions in triglycerides, LDL cholesterol and blood pressure, together with the safety profile observed in this trial, could potentially differentiate pemvidutide from the other incretin-based therapies. If approved, we believe pemvidutide could offer an important option for obesity patients, including those with risk factors for cardiovascular disease.”

Highlights

Altimmune’s study enrolled 391 subjects with obesity or overweight with at least one co-morbidity and without diabetes.

Dr. Scott Harris, Chief Medical Officer of Altimmune, said, “The level of weight loss achieved at 48 weeks in this trial has been shown to reverse the key complications of obesity. Moreover, the trajectory of weight loss at the end of treatment with the 2.4 mg dose suggests the potential for greater weight loss with continued treatment.”

Pemvidutide is a novel, investigational, peptide-based GLP-1/glucagon dual receptor agonist in development for the treatment of obesity and metabolic dysfunction-associated steatohepatitis (MASH), formerly known as non-alcoholic steatohepatitis (NASH).

The drug has exhibited an excellent safety profile to date, and in particular, cardiac-related safety.

Activation of the GLP-1 and glucagon receptors is believed to mimic the complementary effects of diet and exercise on weight loss, with GLP-1 suppressing appetite and glucagon increasing energy expenditure.

About Altimmune

Altimmune is a clinical-stage biopharmaceutical company focused on developing treatments for obesity and liver diseases. The Company’s lead product candidate, pemvidutide, is a GLP-1/glucagon dual receptor agonist that is being developed for the treatment of obesity and MASH, formerly known as NASH. In addition, Altimmune is developing HepTcell™, an immunotherapeutic designed to achieve a functional cure for chronic hepatitis B. For more information, please visit www.altimmune.com.