Altimmune on Wednesday said its experimental drug helped patients shed weight but also minimized the loss of muscle mass in a midstage trial, a finding that could set it apart in a potentially crowded market.
Altimmune is one of several smaller biotech companies that are pushing to compete directly with Novo Nordisk and Eli Lilly in the growing weight loss drug space, or to get scooped up by larger drugmakers that can help bring their treatments to market.
The results are an early sign that the biotech company can address a major concern around those treatments, which have drawn unrelenting demand and investor interest over the last year.