The pharmaceutical company Alvotech revealed promising outcomes from a pharmacokinetic (PK) study for its biosimilar drug candidate, AVT03, on Monday. This particular drug is a biosimilar for both Prolia and Xgeva, which contain the active ingredient denosumab. Following this announcement, Alvotech's share prices rose by over 10 percent in the pre-market session, peaking at $14.65 per share.
Alvotech, a specialty and generic drug manufacturer based in Iceland, noted significant positive results in the primary endpoints of its PK study, AVT03-GL-P01. This trial assessed the pharmacokinetics, safety, and tolerability of AVT03 against Prolia in robust adult participants. Confirmation of the efficacy of AVT03 in patients is currently pending, as is another PK study that compares AVT03 to Xgeva among healthy adults.
Medical professionals prescribe Prolia for the treatment of osteoporosis in postmenopausal women and for countering bone loss in men and women who are at an elevated risk of fractures. Despite containing the same active ingredient, Xgeva comes in a different form and serves a different purpose. It is used to avert skeletal-related events such as pathological fractures in adults, particularly those suffering from advanced bone-centric malignancies.
