Hinova Pharmaceuticals (SH:688302) Xin Lang Cai Jing·2025-11-04 08:52Core Viewpoint - Haichuang Pharmaceutical has completed the enrollment of the first participants in the Phase II clinical trial for its drug HP515, aimed at treating Metabolic Associated Steatotic Hepatitis (MASH), with no similar products approved in the domestic market [1] Group 1: Clinical Trial Progress - The Phase II clinical trial for HP515, a highly selective THR-β agonist, has recently completed the enrollment of its first participants [1] - The study aims to evaluate the efficacy, safety, pharmacokinetics, and pharmacodynamics of HP515 in participants with MASH [1] Group 2: Product Development and Market Position - HP515 is an oral medication developed by the company, and it is currently the only product targeting this specific mechanism that has not been approved in the domestic market [1] - The company is also conducting research on HP515 in combination with GLP-1R agonists for obesity, with related preclinical data presented at international conferences [1] Group 3: Business Impact and Industry Characteristics - The completion of this research is not expected to have a significant impact on the company's recent operating performance [1] - The pharmaceutical products in this sector are characterized by high technology, high risk, and high added value, with uncertainties surrounding clinical trial progress, results, and future market competition [1]