Obesity has been linked to development of a range of diseases and unfortunately, cancer. More specifically, the National Cancer Institute estimated that colorectal cancer is 1.3 times more likely in obese individuals. Therefore, this is a highly lucrative segment for pharmaceutical companies. Yet, the big pharma giant, Pfizer Inc (NYSE: PFE) abandoned its obesity drug that failed during the phase 2 trial due to exhibited side-effects. But a clinical-stage company, Altimmune Inc (NASDAQ: ALT), announced positive top-line results from the 48-week phase II MOMENTUM study of its obesity drug candidate. Roche Holding AG (OTC: RHHBY) also entered this lucrative market as it announced its acquisition of obesity drug maker for $2.7 billion. A molecular genetics diagnostic company specializing in the early detection of cancer, Mainz Biomed N.V. (NASDAQ: MYNZ) reported groundbreaking results from U.S. eAArly detect study that evaluated the use of novel mRNA biomarkers in the next version of its test for colorectal cancer, which is a major breakthrough in CRC diagnostics.
Pfizer faced a setback, but it is still in the race for finding a cure for obesity.
On Friday, Pfizer dropped its twice-daily obesity oral pill as most patients dropped out of its midstage trial due to side effects that include nausea and vomiting. But Pfizer is still developing its once-daily version of the weight-loss pill, but early data on this formulation won’t be available until the first half of 2024. Although the setback is not the outcome Pfizer hoped for, the pharma giant is not giving up on its $10-billion-a-year product, as stated by Pfizer CEO Albert Bourla.
Altimmune advances with its obesity drug candidate.
While Pfizer faced a setback, a small company with a market value of less than $200 million reported on Thursday that its experimental obesity drug helped reduce weight by as much as 15.6% over a midstage trial that lasted 48 weeks and included 391 patients. Upon its good news, Altimmune shares rose more than 45% at $4.61.
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