Altimmune reported top-line data from its Phase IIb Impact study of pemvidutide, a GLP-1/glucagon dual receptor agonist, in metabolic dysfunction-associated steatohepatitis (MASH). The therapy met one primary endpoint—MASH resolution without fibrosis worsening—but did not demonstrate significant fibrosis improvement, leading to a halving of its stock price. Despite this mixed outcome, the peptide showed weight loss potential, but the results have dampened investor confidence amid growing competition in the NASH treatment space.