Altimmune has ‘ideal lifestyle anti-obesity drug,’ says B. Riley

B. Riley says Altimmune’s Q4 earnings were headlined by two additional Phase II MOMENTUM obesity study findings, in follow-up to previously reported positive top-line data. The new body composition sub-study data noted better quality of weight loss attained relative to more advanced weight loss drugs as only 25.5% of total weight loss was attributed to lean mass, which is comparable to normal diet-driven weight loss, the analyst tells investors in a research note. In addition, new liver fat reduction data showed up to 79% subjects attained liver fat normalization, which reaffirms the “material de-risking” of the company’s ongoing Phase II IMPACT 24-week liver biopsy metabolic dysfunction-associated steatohepatitis study readout anticipated in Q1 of 2025, says the firm. Riley believes the 25% lean mass reduction makes pemvidutide an “ideal lifestyle anti-obesity drug.” It reiterates a Buy rating on Altimmune with a $20 price target.