Two biopharmaceutical companies, Altimmune and MindMed, have been added to the Nasdaq Biotechnology Index (NBI), effective December 23, 2024. This inclusion recognizes their achievements and potential within the biotechnology sector. Both companies are gearing up for significant clinical data readouts in 2025 that could redefine their market positions.
Altimmune's Pemvidutide Phase 2b Trial in MASH
Altimmune (Nasdaq: ALT) is focused on developing peptide-based therapeutics, with its lead candidate, pemvidutide, targeting obesity and metabolic dysfunction-associated steatohepatitis (MASH). The company's President and CEO, Vipin K. Garg, Ph.D., noted that the NBI inclusion marks the culmination of a year of substantial progress. The company is anticipating topline data from the Phase 2b IMPACT trial of pemvidutide in MASH in the second quarter of 2025.
Pemvidutide is a GLP-1/glucagon dual receptor agonist. It is designed to mimic the effects of diet and exercise by suppressing appetite (via GLP-1 receptor activation) and increasing energy expenditure (via glucagon receptor activation). Glucagon is also believed to directly impact hepatic fat metabolism, potentially leading to reduced liver fat and serum lipids. Pemvidutide has received Fast Track designation from the U.S. FDA for the treatment of MASH.
MindMed Advances MM120 for Brain Health Disorders
MindMed (Nasdaq: MNMD) is a clinical-stage biopharmaceutical company focused on developing treatments for brain health disorders. Rob Barrow, Chief Executive Officer of MindMed, stated that the inclusion in the NBI validates the company's potential to deliver long-term value to shareholders. MindMed is currently conducting a Phase 3 study of MM120 ODT (orally disintegrating tablet) for generalized anxiety disorder (GAD), with initial results expected in the second half of 2025. The company dosed its first patient in the Phase 3 Voyage study of MM120 ODT, evaluating its efficacy and safety versus placebo in approximately 200 participants in the United States.
MM120 has received Breakthrough Therapy designation from the FDA for GAD. MindMed is also exploring its potential in treating major depressive disorder (MDD). The company's prelaunch strategy for MM120 includes partnerships with clinics, education on unmet needs in GAD and MDD, and alignment with existing reimbursement frameworks, targeting the prescribers of esketamine (Spravato) and their certified centers.
Nasdaq Biotechnology Index (NBI) Criteria
The NBI tracks the performance of companies listed on the Nasdaq Stock Market that are classified as biotechnology or pharmaceutical, according to the Industry Classification Benchmark (ICB). Eligibility requirements include minimum market capitalization, average daily trading volume, and public company seasoning. The index is reevaluated annually in December.
