NVO - If These 3 Words Are True Altimmune's Weight Loss Candidate Could Beat Novo Nordisk's Wegovy
2024-06-29 11:34:00 ET
For most of its existence, Altimmune (NASDAQ: ALT) has been a little-known biotech aspiring to compete in a world dominated by whales like Novo Nordisk (NYSE: NVO) , the maker of the hit weight loss drug Wegovy and the blockbuster Ozempic for type 2 diabetes.
But if management's three-word hunch about the company's lead program is right -- and there's at least one critical piece of evidence hinting that it is -- Wegovy's reign could face a serious challenge within the next few years. Let's explore their outlook to see how it might affect your thinking about the stock.
While it doesn't have any products on the market yet, Altimmune has two clinical-stage programs, both of which are in phase 2 trials, and both of which are testing the usefulness of the same molecule, pemvidutide. One aims to treat obesity, and the other is seeking an indication for treating metabolic-associated steatohepatitis (MASH, formerly known as NASH).
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If These 3 Words Are True, Altimmune's Weight Loss Candidate Could Beat Novo Nordisk's Wegovy