With the booming obesity drug market, keep an eye on Altimmune (ALT).
According to data from its MOMENTUM trial, the company said its pemvidutide treatment led to weight loss while preserving lean mass.
Data from a 48-week trial showed that about 74.5% of weight loss was linked to fat tissue. About 25.5% was linked to lean mass, which may give it a leg up against competition. “We believe that pemvidutide has the potential to distinguish itself broadly from other therapies for the treatment of obesity,” ALT’s CEO, Vipin Garg added.
Analysts at B. Riley reiterated a buy rating on the stock, with a price target of $20. The firm added that the 25% linked to lean mass, relative to other obesity medications, makes this treatment an “ideal lifestyle anti-obesity drug,” as highlighted by TheFly.com.