智通财经APP讯，来凯医药-B(02105)发布公告，LAE102针对治疗肥胖症在中国进行的I期多剂量递增研 究(MAD研究)取得积极初步结果。 MAD研究是一项随机、双盲、安慰剂对照研究，旨在评估皮下给药的LAE102在超重╱肥胖受试者中的 安全性、耐受性、药代动力学和药效学特征。该MAD研究入组了平均身体质量指数(BMI)为29.4kg/m2 的超重╱肥胖受试者，包含3个剂量递增皮下注射组(分别为2mg/kg、4mg/kg和6mg/kg剂量组，每周皮下 给药一次，持续4周)。初步结果展现出令人鼓舞的增肌减脂趋势。在第5周时，LAE1026mg/kg剂量组的 受试者平均瘦体重较基线增加了1.7%，同时平均脂肪质量也减少了2.2%。经安慰剂对照组调整后，平 均瘦体重增加达4.6%，而平均脂肪质量则减少了3.6%。 此外，MAD研究的积极结果为LAE102继续开展针对肥胖症治疗的临床开发提供了支持。目前，集团正 积极与多家潜在合作伙伴进行磋商，计划寻求具备严肃承诺和资金实力，且意愿将此项目列为优先的合 作伙伴，以加速LAE102的临床开发与商业化进程。集团维持稳健的财务状况，使公司能够在评估潜在 合作架构时保持 ...

Summary of Fractyl Health's REMAIN1 Midpoint Cohort Data Call Company Overview - **Company**: Fractyl Health (NasdaqGM: GUTS) - **Industry**: Obesity treatment and metabolic disease management Key Points and Arguments 1. **Milestone Presentation**: Fractyl Health presented the first prospective randomized double-blind control data from the REMAIN1 midpoint cohort, demonstrating that Revita prevented weight regain three months after discontinuation of GLP-1 drugs [5][6] 2. **Therapeutic Category**: The results indicate a new potential therapeutic category in obesity post-GLP-1 weight maintenance, positioning Fractyl to lead in this area [5][6] 3. **Future Milestones**: The company anticipates four weight maintenance data readouts in the next year, with pivotal data and potential PMA filing expected in the second half of 2026 [5][18] 4. **Cash Flow**: Fractyl expects to have sufficient cash to fund operations into early 2027 [5] 5. **Revita's Mechanism**: Revita targets duodenal dysfunction as a root cause of obesity, aiming to restore normal signaling and create a durable metabolic reset [6][15] 6. **Clinical Efficacy**: In the REMAIN1 midpoint cohort, Revita patients lost 2.5% more body weight compared to sham patients, who regained 10% of their weight, resulting in a clinically significant treatment difference of 12.5% [9][14] 7. **Safety Profile**: Revita demonstrated an excellent safety and tolerability profile, with no serious device-related adverse events reported [10][15] 8. **Patient Demographics**: The study included 45 adults with obesity, mirroring the real-world GLP-1 population, with an average BMI of 37.1 kg/m² [13] 9. **Weight Loss Maintenance**: Revita patients lost an additional 2 kg after stopping tirzepatide, while sham patients regained 8 kg, highlighting Revita's effectiveness in maintaining weight loss [14][15] 10. **Market Demand**: There is significant demand for a durable alternative to GLP-1 drugs, with many patients eager to find solutions for weight maintenance after stopping medications [19][20] Additional Important Content 1. **Regulatory Designation**: Revita received FDA Breakthrough Device designation for post-GLP-1 weight maintenance, emphasizing its potential in a hard-to-treat patient population [7][10] 2. **Commercial Strategy**: If approved, Revita could fit seamlessly into existing endoscopy practices, with a sales model targeting hospitals and endoscopy centers [20][21] 3. **Payer Interest**: Early feedback from health plans indicates interest in a sustainable solution for long-term weight maintenance, which Revita could provide [20] 4. **Clinical Trial Design**: The REMAIN-1 program was designed to replicate pivotal cohort protocols, ensuring consistency in patient selection and treatment [10][18] 5. **Future Data Expectations**: Upcoming data releases include six-month results from the midpoint cohort and open-label data from the REVEAL-1 cohort, which will further validate Revita's efficacy [22][36] This summary encapsulates the critical insights from Fractyl Health's recent conference call, highlighting the company's innovative approach to obesity treatment and the promising data surrounding its product, Revita.

Core Viewpoint - Fizer's acquisition of experimental obesity drugs positions the company as a credible competitor in the obesity treatment market, enhancing its growth potential and market presence [1][2]. Company Insights - Fizer's entry into the obesity market has been anticipated, with the potential to make a significant impact, especially with their once-monthly treatment options that differ from competitors like Lily and Novo [2][4]. - The oral peptide developed by Fizer does not require fasting, which could improve patient compliance compared to existing treatments [3]. - The obesity drug market is expected to be large enough to accommodate multiple competitors, suggesting that Fizer's new offerings could find a place alongside established players [4][6]. Market Dynamics - The obesity treatment market is projected to be driven by volume rather than price, with existing competitors facing pricing pressures [5]. - Fizer's once-monthly and oral treatment options may provide a competitive edge against established products from Lily and Novo [5]. - The infrastructure required for successful market entry includes a large sales force and complex contracts with payers, indicating significant investment needs for new entrants [7]. Investor Sentiment - Recent data from diabetes meetings has shifted investor sentiment positively towards Novo, highlighting a valuation disconnect between Novo and Lily, which may influence market dynamics [8][9]. - Investors are particularly interested in new trials, such as the Evoke trial examining oral simaglletide for Alzheimer's disease, indicating a broader interest in innovative treatments [9][10].

Core Viewpoint - The stock of Gilead Sciences-B (01672) increased by over 8%, reaching HKD 11.57 with a trading volume of HKD 23.73 million, following the announcement of significant clinical trial results for its weight loss drug ASC47 combined with semaglutide [1] Group 1: Clinical Trial Results - Gilead announced that in a study conducted on obese participants (BMI ≥ 30 kg/m²), the combination of ASC47 and semaglutide showed a weight loss effect that was 56.2% greater compared to the placebo combined with semaglutide [1] Group 2: Future Research Implications - The CEO of Gilead, Wu Jinzi, stated that this research provides important concept validation data, which will serve as a critical basis for the design of subsequent Phase IIb combination therapy studies targeting various metabolic diseases, including obesity and metabolic-associated fatty liver disease (MASH) [1]

Core Viewpoint - The stock of Gilead Sciences-B (01672) increased by over 8%, reaching HKD 11.57, with a trading volume of HKD 23.73 million, following the announcement of significant weight loss results from its candidate drug ASC47 in combination with semaglutide [1] Group 1: Company Announcement - Gilead Sciences announced that, on day 29, the weight loss effect of ASC47 combined with semaglutide in obese subjects (BMI ≥ 30 kg/m²) was enhanced by up to 56.2% compared to the placebo combined with semaglutide [1] - The founder, chairman, and CEO of Gilead Sciences, Wu Jinzi, stated that this study provides important proof-of-concept data, which will serve as a critical basis for the design of subsequent Phase IIb combination therapy studies for various metabolic diseases, including obesity and metabolic-associated fatty liver disease (MASH) [1]

Group 1 - Novo Nordisk plans to apply for U.S. regulatory approval for a high-dose version of its weight loss therapy "Wegovy," aiming to compete against Eli Lilly's Zepbound in the growing obesity treatment market [1] - The company's Chief Scientific Officer, Martin Holst Lange, stated that the high-dose Wegovy has comparable weight loss potential to Eli Lilly's offering, providing new treatment options for patients [1] - Novo Nordisk is building a diversified product portfolio around the active ingredient semaglutide, which includes both high-dose injections and an oral tablet version of Wegovy [1] Group 2 - Earlier this year, Novo Nordisk submitted an application for the high-dose Wegovy in Europe [2] - The company reiterated plans to conduct late-stage clinical trials for the experimental compound cagrilintide, which operates through a different mechanism than semaglutide [2] - Novo Nordisk is adjusting its R&D strategy following underwhelming results from its next-generation obesity therapy CagriSema, planning to test cagrilintide's efficacy separately and optimize CagriSema's positioning through new clinical trials [2]

Core Viewpoint - The article discusses the potential of multi-receptor agonists, specifically LY3437943, in improving health outcomes for patients with type 2 diabetes and obesity, highlighting its efficacy in blood sugar control and weight loss over a 12-week treatment period [5][10]. Group 1: Study Overview - LY3437943 is an innovative tri-agonist peptide designed to target GIP, GLP-1, and glucagon receptors, specifically for the treatment of type 2 diabetes and obesity [5]. - A 12-week study published in The Lancet evaluated the safety and pharmacological characteristics of LY3437943 in type 2 diabetes patients, showing significant improvements in blood sugar control and weight loss [5][10]. Group 2: Study Design and Methodology - The study was a randomized, double-blind, placebo-controlled phase 1b trial conducted from December 2019 to December 2020 across four research centers in the U.S., involving 72 eligible adult patients with type 2 diabetes [6]. - Patients were randomly assigned in a 9:3:1 ratio to receive different doses of LY3437943, a placebo, or a control group receiving 1.5 mg of dulaglutide, with treatment lasting 12 weeks [6]. Group 3: Safety and Efficacy Results - The primary assessment focused on the safety and tolerability of LY3437943, while secondary assessments looked at its pharmacodynamics and pharmacokinetics [7]. - Adverse events were reported in 63% of the LY3437943 group, 60% in the dulaglutide group, and 54% in the placebo group, with gastrointestinal symptoms being the most common adverse reactions [7]. - Pharmacokinetic analysis indicated a positive correlation between LY3437943's pharmacological parameters and dosage, with a half-life of approximately 6 days [8]. Group 4: Blood Sugar and Weight Loss Outcomes - After 12 weeks, average daily blood glucose levels significantly decreased in the high-dose LY3437943 groups compared to baseline, with reductions of 2.8 mmol/L, 3.1 mmol/L, and 2.9 mmol/L for the respective high-dose groups [8][10]. - Hemoglobin A1c levels also improved significantly in the high-dose groups, with reductions of 1.4%, 1.6%, and 1.2% for the respective groups [10]. - Weight loss was dose-dependent, with the highest dose group achieving an average weight reduction of 8.96 kg [10]. Group 5: Conclusion and Future Research - The findings suggest that LY3437943 exhibits safety characteristics comparable to existing incretin-based therapies while significantly improving blood glucose control and weight status over the 12-week treatment period, laying a solid foundation for phase 2 clinical studies in type 2 diabetes and obesity [10].

Core Insights - The company announced promising preclinical efficacy results for its obesity treatment candidate ASC47 in combination with the dual-target peptide ASC31 [1][2] - ASC31 is a novel GLP-1R and GIPR dual-target agonist peptide developed by the company, showing favorable pharmacokinetic characteristics and positive in vivo efficacy in DIO mice [1][2] - ASC47 is a selective small molecule agonist of thyroid hormone receptor β (THRβ) designed for monthly subcutaneous injection, targeting fat tissue to achieve high drug concentrations [1] Clinical Study Results - A study comparing low-dose ASC47 (9 mg/kg, subcutaneous) combined with ASC31 (3 nmol/kg, subcutaneous) versus ASC47 combined with terzepatide (3 nmol/kg, subcutaneous) over 14 days showed that the ASC47 and ASC31 combination resulted in an average weight loss of 44.8%, which is 17.6% more than the ASC47 and terzepatide combination (38.1%) [2] - The CEO highlighted the significant differentiation potential of the new therapy compared to existing weight loss drugs and other candidates in development, indicating a robust pipeline for obesity treatments that includes both small molecules and peptides [2]

Core Insights - The company announced promising preclinical efficacy results for its obesity treatment candidates ASC47 and ASC31, which are a combination of a novel GLP-1R/GIPR dual agonist and a selective THRβ agonist [1][2] Group 1: Drug Candidates - ASC31 is a novel GLP-1R and GIPR dual agonist peptide developed by the company, showing good pharmacokinetic characteristics in non-human primates and positive in vivo efficacy in DIO mice [1] - ASC47 is a fat-targeting, once-monthly subcutaneous THRβ selective small molecule agonist, which achieves high drug concentrations in adipose tissue in a dose-dependent manner [1] Group 2: Clinical Study Results - A study comparing low-dose ASC47 (9 mg/kg, subcutaneous) combined with ASC31 (3 nmol/kg, subcutaneous) versus ASC47 combined with teriparatide (3 nmol/kg, subcutaneous) over 14 days showed that the ASC47 and ASC31 combination resulted in an average weight loss of 44.8%, which is 17.6% more than the 38.1% weight loss observed with ASC47 and teriparatide [2] - The CEO highlighted the significant differentiation potential of the new therapy compared to existing weight loss drugs and other candidates in development, indicating a robust pipeline of obesity treatment options that include both small molecules and peptides [2]

Core Insights - The company, Gilead Sciences, has announced promising preclinical efficacy results for its obesity treatment candidates ASC47 and ASC31, which are a combination of a dual receptor agonist and a selective small molecule agonist [1][2] Group 1: Drug Development - ASC31 is a novel GLP-1R and GIPR dual receptor agonist peptide developed by the company, showing favorable pharmacokinetic characteristics in non-human primates and positive in vivo efficacy in DIO mice [1] - ASC47 is a selective small molecule agonist of thyroid hormone receptor β (THRβ) that targets fat and is designed for monthly subcutaneous injection, achieving high drug concentrations in adipose tissue [1] Group 2: Market Potential - The combination of ASC31 and ASC47 demonstrates superior weight loss effects in animal models compared to existing weight loss drugs and other candidates in development, indicating significant differentiation potential in the obesity treatment market [2] - The company is building a robust pipeline of potential obesity therapies that includes both small molecules and peptides, with expectations for future progress updates [2]