By Altimmune Inc. (ALT) shares experienced a significant surge of over 40% during after-hours trading on Thursday. The clinical-stage biopharmaceutical company announced that 391 participants in a trial for its obesity drug, pemvidutide, were able to successfully lose weight by combining the pill with a healthy diet and exercise regimen. Astonishingly, more than 50% of those enrolled achieved a weight loss of at least 15%, while over 30% accomplished a weight loss of at least 20% on specific doses of the drug.
Altimmune emphasized that previous clinical trials have consistently shown pemvidutide’s effectiveness in reducing serum lipids and improving blood pressure, all without any cardiac events, arrhythmias, or noteworthy increases in heart rate. The most common side effects reported were nausea and vomiting.
Chief Medical Officer Scott Harris highlighted the revolutionary potential of the trial’s results: “The level of weight loss achieved at 48 weeks in this trial has been shown to reverse the key complications of obesity.” Furthermore, he emphasized the drug’s favorable safety profile observed thus far.
Expressing his enthusiasm, Chief Executive Vipin K. Garg explained, “Today is an important day for Altimmune, and we couldn’t be more pleased with these remarkable results.”
Altimmune shares ended the regular trading day with a 1% increase and continue to garner attention and enthusiasm from investors.
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