Shares of Altimmune (NASDAQ: ALT) cratered in pre-market trading on Wednesday even as the biopharmaceutical company delivered positive topline results regarding a 12-week Phase 1b study of pemvidutide, used in the treatment of non-alcoholic fatty liver disease (NAFLD).
This Phase 1b was a randomized, double-blind, placebo-controlled study where three different groups of patients were dosed with 1.2 mg, 1.8 mg, 2.4 mg of pemvidutide, respectively. All three dosing groups achieved the primary endpoint of reduction in liver fat.
The group dosed with 1.8 mg of pemvidutide saw a 68.5% relative reduction in liver fat at 12 weeks of treatment. This study also saw a mean weight loss of 4.9% in subjects without diabetes receiving the 1.8 mg dose of pemvidutide.