速递｜众多头部机构加持，GLP-1新药明星企业今天敲锣上市

Core Viewpoint - PegBio Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, with an opening price of HKD 13.00 per share and a market capitalization of HKD 50.17 billion [1]. Company Overview - Established in 2008 and headquartered in Suzhou, Jiangsu Province, PegBio focuses on the development of innovative therapies for chronic diseases, particularly in the area of metabolic disorders [3]. - The company has developed a core product and has five candidate drugs targeting common chronic diseases and metabolic disorders, including Type 2 Diabetes Mellitus (T2DM), obesity, non-alcoholic fatty liver disease (NASH), opioid-induced constipation (OIC), and congenital hyperinsulinism [3][5]. Financial Performance - In 2023, PegBio reported revenue of RMB 9.081 million and a net loss of RMB 187 million, with R&D expenses accounting for 84.3% of total expenditures [3]. - For the first eight months of 2024, the company generated revenue of RMB 5.049 million, with net losses widening to RMB 202 million [3]. Product Pipeline - PegBio's core product, PB-119, is a long-acting GLP-1 receptor agonist for the first-line treatment of T2DM and obesity, nearing commercialization. It has shown promising results in clinical trials for blood sugar control, cardiovascular health improvement, and weight management [3]. - The New Drug Application (NDA) for PB-119 was accepted by the National Medical Products Administration of China in September 2023 [3]. - Other clinical-stage candidates include PB-718 for weight loss and liver fat reduction, PB-1902, the only oral drug in China for OIC, and PB-722 for congenital hyperinsulinism, which has received orphan drug designation from the FDA [5]. - The company is also developing PB-2301 and PB-2309, dual and triple receptor agonists targeting T2DM, NASH, and obesity, which are expected to be best-in-class treatment options [5].