Alvotech (ALVO) Announces Strong Results for Clinical Trial for AVT80

​Alvotech (NASDAQ:ALVO) is one of the Best Penny Stocks That Will Skyrocket. On February 5, Alvotech (NASDAQ:ALVO) announced strong initial results from a key clinical trial for AVT80. AVT80 is a potential biosimilar to the blockbuster drug, Entyvio, from Takeda.

​Management noted that the randomized, double-blind study successfully fit all primary goals, including proving AVT80 matches Entyvio’s pharmacokinetics. The trial also passed all safety, tolerability, and immune response criteria.

​“We are very pleased with this result, which is an important milestone in the development of our proposed biosimilar to Entyvio, allowing us to proceed towards regulatory submissions,” noted Joseph McClellan, Chief Operating Officer.

Management also highlighted that the potential approval targets a significant market opportunity. The combined worldwide revenue for Entyvio in 2025 was roughly around $6.4 billion. Biosimilars like AVT80/AVT16 could slash costs for patients and payers once approved.

​Alvotech (NASDAQ:ALVO) is a biotechnology company specializing in the development, manufacturing, and commercialization of biosimilar medicines to provide affordable biologic alternatives globally.

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Disclosure: None. This article is originally published at Insider Monkey.