‘Impressive’ Altimmune data likely drives strategic interest, says B. Riley

B. Riley views Altimmune’s (ALT) Phase II MOMENTUM obesity trial 48-week interim safety and efficacy results for company’s lead drug pemvidutide as “impressive.” The data fall between the weight loss range previously reported by Novo Nordisk’s (NVO) semaglutide and Eli Lilly’s (LLY) tirzepatide while reaffirming specific areas of differentiation, including robust lipid lowering effect, near-class leading liver reductions, and cardiac safety with no arrhythmia/minimal heart-rate increases as well as strong blood pressure improvements, the analyst tells investors in a research note. The readout likely reignites strategic biopharma interest Altimmune, contends Riley, which reiterates a Buy rating on the shares with an $8 price target.