** Shares of drug developer Altimmune ALT.O rose nearly 3% in extended trading before paring gains
** Company says that it is planning to test its experimental weight-loss drug, pemvidutide, as a treatment for alcohol use disorder and alcohol-associated liver disease
** Plans to begin a mid-stage trial in alcohol use disorder for pemvidutide in Q2 and another mid-stage trial for alcohol-related liver disease in Q3
** Co's drug, pemvidutide, has shown to help patients reduce their weight by 15.6% on average in a mid-stage trial
** As of the last close, stock down 27.9% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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