Altimmune (NASDAQ:ALT) stock is rising higher on Monday but it’s not actually due to any news from the clinical-stage biopharmaceutical company.
Instead, a clinical trial update from rival Zealand Pharma is behind the increase in ALT stock today. That comes after the company provided results from a Phase 2 clinical trial of liver disease treatment and weight loss drug survodutide.
The big news here is that the 6mg dose of the drug was found to be safe during the MASH liver disease clinical trial. That’s a highlight as the company is using this same dosage in its Phase 3 clinical trial of survodutide as a weight loss drug.
What This Means for ALT Stock
The weight loss market is booming right now as several companies are pushing to provide the next big drug to treat obesity. This has some companies in that sector rallying higher today alongside Zealand Pharma’s clinical trial news.
ALT stock is among these with the company’s shares seeing strong trading today. That has more than 2 million units changing hands during pre-market trading this morning. That’s still below its daily average trading volume of about 12 million shares.
ALT stock is up 14.1% as of Monday morning but was down 12.6% year-to-date when markets closed on Friday.
Investors seeking out even more of the most recent stock market stories will want to stick around!
We have all of the hottest stock market news that traders need to know about on Monday! Among that is what’s happening with shares of Intuitive Machines (NASDAQ:LUNR), Aclarion (NASDAQ:ACON) and Freight Technologies (NASDAQ:FRGT) stock this morning. All of this news is ready to go at the links below!
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On the date of publication, William White did not have (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.
