Viking Therapeutics MC – $7 billion
Zealand Pharmaceuticals MC – $9 billion
Madrigal Pharmaceuticals MC – $5.5 billion
Altimmune MC – $493 million
Can someone explain this discrepancy to me?
Pretty much all of these companies are in almost the same phase of clinical trials for their Obesity/MASH drugs aside from Madrigal.
Madrigal has an FDA approved drug for MASH, however the data from Altimmune for it's MASH drug is actually BETTER than Madrigal's drug, however, Altimmune is only in Phase 2 trials.
Also Altimmune's drug Pemvidutide has BETTER data than Zealand Pharmacueticals ($9 billion market cap) for MASH –
Survodutide (Zealand Pharma) reduces LFC by 30% in 90.9% of subjects in 28 weeks compared to 25% of placebo.
Pemvidutide (Altimmune) reduces LFC by 30% in 94.4% of subjects in 12 weeks compared to 4.2% of placebo
Altimmune's drug for obesity also has the best lean muscle mass preservation of ANY of these drugs. 80% fat loss with only 20% muscle loss. Compared to others who have 30-40% muscle loss.
Altimmune is class leading in both MASH and muscle mass preservation of any GLP-1 drug in the world. Better than Ozempic, Zepbound, Wegovy, you name it
Both Viking and Altimmune are in Phase 2 clinical trials for their obesity drugs, yet Viking is worth 15x as much valuation, even though they have very similar drug data. Yes Viking has an oral version in the pipeline, but so does Altimmune. Altimmune's drug is also more likely to approved by insurance since it's focus isn't PURELY weight loss, but for heart disease, fatty liver disease, pre-diabetes, and further indicications to come for sleep apnea and alzheimer's and parkinson's disease. Yes GLP-1 drugs have been scientifically proven to help with neurodegenerative decline! How does this make any sense?
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