- Yesterday, Altimmune Inc (NASDAQ:ALT) announced results from a Phase 1b trial evaluating pemvidutide (ALT-801), a novel glucagonlike peptide-1 (GLP-1) and glucagon dual receptor agonist in non-alcoholic fatty liver disease (NAFLD).
- According to HC Wainwright, the results were ‘compelling.’
- The analyst reiterates the $50 price target and Buy rating ahead of the top-line data release for MOMENTUM.
- However, ALT shares plunged by almost 30%, primarily owing to disappointment in the rate of weight loss generated in the study, the secondary objective in the trial.
- Placebo-adjusted weight loss in non-diabetic patients of 4.7% was less than some investors had expected.
- HC Wainwright believes the program remains on track to generate 20%- plus weight loss in non-diabetic obese patients with a lower liver fat content than a traditional NAFLD population.
- As the Phase 2 MOMENTUM trial is expected to be fully enrolled by 4Q22 and generate an interim top-line data release after 24 weeks in 1Q23, it is the more significant de-risking event for the pemvidutide program.
- Price Action: ALT shares are down 6.50% at $13.46 on the last check Friday.
Global Net Lease Q3 FFO $0.43 Up From $0.39 YoY, Sales $95.76M Miss $99.37M Estimate
Global Net Lease (NYSE:GNL) reported quarterly earnings of $0.43 per share. This is a 10.26 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of
