Altimune (NASDAQ:ALT) stock is falling hard on Wednesday even after reporting positive results from a Phase 1b clinical trial this morning.
That clinical trial concerns the use of pemvidutide in treating patients with non-alcoholic fatty liver disease (NAFLD). The treatment was tested across 94 patients with three different dose groups, as well as versus a placebo group.
The big news here is the clinical trial met its primary endpoint of a significant reduction in liver fat across all dose groups. It also met its secondary endpoint of mean weight losses of 4.9% in patients without diabetes and 4.4% in patients with diabetes.
Adding to this is the positive safety data from the clinical trial; there were no serious adverse events during the 12 weeks of treatment. Rather, mild adverse events during the trial were gastrointestinal, events which saw two patients withdraw during the treatment period.
Principal Investigator Dr. Stephen Harrison said the following about the results in a press release:
“The marked decreases in both liver fat and serum ALT, together with approximately 5% weight loss in just 12 weeks in this NAFLD patient population, highlight pemvidutide as potentially a promising therapeutic for both NASH and obesity.”
It’s unclear why ALT stock is dropping today alongside the positive results, but it is seeing heavy trading. As of this writing, more than 22 million shares have changed hands. That’s a major surge compared to the daily average trading volume of about 1.7 million shares.
ALT stock is down 33% as of Wednesday morning.
Investors looking for more of the latest market news are in the right place!
InvestorPlace is home to all of the most recent stock market news for Wednesday! Among that is an upcoming social security increase, why Akerna (NASDAQ:KERN) stock is on the move and the latest news on Meta Platforms (NASDAQ:META) stock. You can find all of that news at the following links!
More Wednesday Stock Market News
- Social Security Increase 2023: How Much More Can Retirees Expect?
- What Is Going on With Akerna (KERN) Stock Today?
- What Is Going on With META Stock Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
