Ascletis leaps on positive oral obesity candidate progress
Hong Kong-based Ascletis Pharma HKEX:1672) today announced positive interim results from the first two cohorts of its randomized, double-blind, placebo-controlled Phase Ib multiple ascending dose (MAD) study, conducted in the USA, of ASC30 oral once-daily tablet in patients with obesity (body mass index (BMI): 30-40 kg/m2).
Ascletis shares rocketed more than 29% to HK$6.19, as the drug demonstrated a future as an oral candidate in the ever-growing weight management space that is attracting more attention. The latest estimate from GlobalData suggests that sales of obesity medications will reach $173.5 billion in the seven major markets (7MM: USA, France, Germany, Italy, Spain, UK and Japan) by 2031.
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