Altimmune Shares Fall Despite Fatty Liver Disease Study Meets Primary Goal

Altimmune Inc ALT shares plunged after topline results from its 12-week Phase 1b study of pemvidutide in subjects with non-alcoholic fatty liver disease (NAFLD).
The trial assessed three dose levels, 1.2 mg, 1.8 mg, and 2.4 mg.
The trial met its primary endpoint in all pemvidutide treatment groups.
At the 1.8 mg dose (with and without diabetes), pemvidutide achieved a mean reduction of the liver fat content of 68.5%, with 94.4% of subjects achieving a 30% reduction in liver fat, 72.2% achieving a 50% reduction in liver fat, and 55.6% of subjects achieving normalization of liver fat.
In addition, mean liver enzyme levels declined in all subjects. In subjects with baseline serum ALT above 30 IU/L, levels declined more than 17 IU/L at all doses and 27.0 IU/L in the 2.4 mg dose cohort.
Related: See Why Altimmune Stock Plunged After Obesity Trial Data.
The trial also met its key secondary endpoint in all pemvidutide treatment groups, with mean weight losses of 4.9% (placebo-adjusted 4.7%) in subjects without diabetes and 4.4% in subjects with diabetes (placebo-adjusted 3.9%) achieved at the 1.8 and 2.4 mg doses, respectively.
Pemvidutide was reported to be generally well tolerated. Gastrointestinal events comprised most adverse events (AEs), predominantly mild and transient.
Two subjects treated with pemvidutide discontinued treatment due to AEs, both secondary to gastrointestinal intolerability.
Price Action: ALT shares are down 44.2% at $11.36 during the premarket session on the last check Wednesday.

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