B. Riley reiterates Buy on Altimmune, Arrowhead after danuglipron given nod

After Pfizer (PFE) reported that it has identified the preferred modified release formulation of danuglipron once-daily, aimed at conducting further “dose optimization studies” in the second half of this year to inform Phase 3 development beginning as early as Q1 of 2025, B. Riley noted that the Street’s receptivity to Pfizer’s Phase 3 go-forward decision was “mixed,” which can likely be attributed to a lack of precise disclosures around new data and late-stage development plans, as well as an accompanying Chief Scientific Officer departure earlier in the week. The firm, which also pointed out the recent volatility within the small-to-mid-cap obesity stocks’ basket of Viking Therapeutics (VKTX), Structure Therapeutics (GPCR), Corbus Pharmaceuticals (CRBP), Altimmune (ALT), Terns Pharmaceuticals (TERN), Fractyl Health (GUTS), Skye Bioscience (SKYE) and Veru (VERU), reiterates its Buy ratings on Corbus, Altimmune and Arrowhead (ARWR).