医药生物行业周报：ScholarRock公布EMBRAZE实验结果，瘦体重保持率54.9%，肌肉保持效果明显-20250625

Investment Rating - The report maintains an "Increase" rating for the pharmaceutical and biotechnology industry [6]. Core Insights - Scholar Rock's EMBRAZE trial results show a significant preservation of lean body mass at 54.9% when Apitegromab is used in combination with Tirzepatide, indicating a notable advancement in muscle preservation during weight loss [2][15][20]. - The safety profile of the combination therapy is comparable to that of Tirzepatide alone, alleviating previous concerns regarding the safety of Bimagrumab in comparison to placebo [4][20]. - The report suggests focusing on companies involved in muscle preservation and growth, specifically mentioning LaiKai Pharmaceutical-B and Genscript Biotech-B as potential investment opportunities [4][20]. Market Review - During the week of June 16-20, 2025, the A-share pharmaceutical and biotechnology sector declined by 4.35%, underperforming the CSI 300 index by 3.9 percentage points [21]. - The Hang Seng Healthcare Index fell by 7.78%, also lagging behind the Hang Seng Index by 6.27 percentage points [21]. Company Dynamics - Recent announcements include the approval of a clinical trial for a tetanus vaccine by Zhifei Biological and the registration of a CO2 testing kit by New Industry [30]. - The report also details the unlocking dynamics of various companies, including Boji Pharmaceutical and Jiutian Pharmaceutical, with significant numbers of shares being released [31].