Core Viewpoint - The stock of Gilead Pharmaceuticals (01672) has risen over 5%, marking a five-day consecutive increase, with a total weekly gain exceeding 30% [1] Group 1: Stock Performance - As of the report, Gilead Pharmaceuticals' stock is up 5.55%, trading at HKD 12.56, with a trading volume of HKD 18.19 million [1] Group 2: Clinical Development - Gilead Pharmaceuticals announced that its next-generation amylin receptor agonist ASC36 and next-generation GLP-1R/GIPR dual-target agonist ASC35 combination formulation have entered clinical development [1] - The company plans to submit a new drug clinical trial application for ASC36 and ASC35 for obesity treatment to the US FDA in the second quarter of 2026 [1] Group 3: Product Characteristics - ASC36 and ASC35 are proprietary ultra-long-acting combination formulations with superior physicochemical stability, showing no aggregation or precipitation at neutral pH levels [1] - Gilead aims to position ASC36 as a cornerstone for monthly therapy targeting cardiac metabolic diseases, including obesity [1] - ASC36 is expected to achieve better efficacy and tolerability compared to GLP-1 therapies and is an ideal candidate for both monotherapy and combination formulations with other long-acting agents like ASC35 or THRβ agonist ASC47 [1]

Core Viewpoint - The stock of Gilead Sciences (01672) has risen over 5%, marking five consecutive days of gains, with a cumulative increase of over 30% this week, currently trading at 12.56 HKD with a transaction volume of 18.19 million HKD [1] Group 1: Clinical Development - Gilead announced that its next-generation amylin receptor agonist ASC36 and next-generation GLP-1R/GIPR dual-target agonist ASC35 combination formulation have entered clinical development [1] - The company expects to submit a new drug clinical trial application for ASC36 and ASC35 for the treatment of obesity to the US FDA in the second quarter of 2026 [1] Group 2: Drug Characteristics - ASC36 and ASC35 are proprietary ultra-long-acting combination formulations with superior physicochemical stability, showing no aggregation or precipitation due to fibrosis at neutral pH [1] - Gilead aims to position ASC36 as a cornerstone for monthly therapies targeting cardiovascular metabolic diseases, including obesity [1] - ASC36 is anticipated to achieve better efficacy and tolerability compared to GLP-1 therapies, making it an ideal candidate for both monotherapy and combination formulations with other long-acting agents like ASC35 or THRβ agonist ASC47 [1]

Core Insights - The article highlights the transformative journey of Gilead Sciences (1672.HK) in the Chinese biotech industry, showcasing its resilience and strategic decision-making in the face of challenges [2][11] - Gilead's shift towards a differentiated pipeline in weight loss drugs has led to a significant market re-evaluation and recovery in its stock price [4][9] Group 1: Company Development - Gilead Sciences was listed on the Hong Kong Stock Exchange in August 2018 at an initial price of 14 HKD, reaching a market capitalization of 16 billion HKD, but faced a decline due to setbacks in its core hepatitis C drug [3][4] - By August 2024, the company's stock price had plummeted to 0.76 HKD, resulting in a market value reduction of over 95% [3][4] - The founder, Dr. Wu Jinzi, demonstrated strategic foresight by pivoting the company's focus to the metabolic disease sector, particularly the weight loss drug market, starting in 2022 [3][5] Group 2: Strategic Shift and Market Response - Following the strategic shift, Gilead's stock price surged from 0.76 HKD in August 2024 to 18.75 HKD by August 2025, representing an increase of over 20 times and restoring its market capitalization to the billion HKD level [4][9] - The market's positive response reflects recognition of Gilead's research team's capabilities and strategic execution [4][9] Group 3: R&D and Competitive Advantage - Gilead has adopted a differentiated approach in drug development, focusing on oral small molecule GLP-1 receptor agonists and ultra-long-acting formulations, rather than following mainstream peptide drug development paths [5][8] - The core pipeline, ASC30, has shown promising clinical results, with a maximum weight reduction of 6.5% in U.S. Phase Ib trials, and is expected to complete Phase IIa trials by the end of the year [5][6] - Gilead is also developing ASC35 and ASC36, which are expected to provide significant advantages in terms of dosing frequency and efficacy compared to existing treatments [6][7] Group 4: Global Competitiveness and Valuation - Despite the stock price recovery, Gilead's current market capitalization is still considered undervalued compared to global peers, as evidenced by recent acquisition bids for similar companies [9][10] - Gilead's diverse pipeline, including multiple formulations with the potential for monthly and quarterly dosing, positions it favorably in the competitive landscape [9][10] Group 5: Lessons and Implications for the Industry - Gilead's successful transformation underscores the importance of strong R&D leadership and strategic vision in navigating industry challenges [11] - The case of Gilead serves as a valuable reference for other Chinese biotech companies seeking to innovate and compete on a global scale [11]

Group 1 - Company repurchased 100,000 shares at a cost of HKD 924,000 on November 5 [1] - The repurchase is part of the company's strategy to manage its capital and enhance shareholder value [1] - The company is preparing for the complete analysis of the ASC30 oral tablet Phase Ib study at the 2025 ObesityWeek® [1] Group 2 - The company is also conducting Phase Ib studies for ASC30 injection and preclinical studies for ASC31 and ASC47 combination therapy [1]

Core Insights - Company announced multiple reports at the 2025 ObesityWeek in Atlanta, Georgia, showcasing the efficacy and safety of its obesity treatment pipeline, including ASC30, ASC31, and ASC47 [1] Group 1: Clinical Research - The complete analysis of the ASC30 oral tablet in Phase Ib trials was presented [1] - A Phase Ib study of ASC30 as a monthly injection was also reported [1] - Preclinical studies on the combination of ASC31 and ASC47 were highlighted [1] Group 2: Technology and Development - The reports emphasize the promising efficacy and safety characteristics of the company's small molecules and peptides for obesity treatment [1] - The proprietary AI-assisted drug discovery platform (AISBDD) and ultra-long-acting drug development platform (ULAP) were validated through these studies [1] Group 3: Strategic Focus - The company is committed to advancing the clinical development of ASC30, ASC31, and ASC47 while engaging closely with strategic partners [1] - The goal is to better meet the treatment needs of obesity patients globally [1]

Core Insights - The announcement highlights multiple reports presented at the 2025 ObesityWeek in Atlanta, Georgia, focusing on the efficacy and safety of the company's obesity treatment pipeline [1] - The reports include a complete analysis of the ASC30 oral tablet Phase Ib study, the ASC30 monthly injection Phase Ib study, and preclinical studies of ASC31 and ASC47 combination therapy [1] - The company's proprietary technologies, including AI-assisted drug discovery and ultra-long-acting drug development platforms, are emphasized as key components of their research [1] - The CEO expresses a commitment to advancing clinical development while engaging closely with strategic partners to meet global obesity treatment needs [1]

Core Viewpoint - The announcement highlights the promising efficacy and safety characteristics of the diverse obesity pipeline of the company, showcasing its proprietary AI-assisted drug discovery and ultra-long-acting drug development platforms [1] Group 1: Clinical Research Updates - The company presented multiple reports at the 2025 ObesityWeek in Atlanta, Georgia, including a complete analysis of the ASC30 oral tablet Phase Ib study and the ASC30 monthly injection Phase Ib study [1] - Additionally, the company reported on preclinical studies involving ASC31 and ASC47 combination therapy [1] Group 2: Strategic Focus - The CEO emphasized the ongoing clinical development of ASC30, ASC31, and ASC47 while maintaining close consultations with strategic partners to better meet the treatment needs of global obesity patients [1]

Core Viewpoint - The company, Gilead Sciences-B (01672.HK), announced multiple reports to be presented at the 2025 ObesityWeek in Atlanta, Georgia, highlighting the efficacy and safety of its obesity treatment pipeline, including ASC30, ASC31, and ASC47 [1] Group 1 - The reports will include a complete analysis of the Phase Ib study of ASC30, a monthly injection study of ASC30, and preclinical studies of ASC31 and ASC47 combination therapy [1] - The presentations demonstrate the promising efficacy and safety characteristics of Gilead's small molecules and peptides in the obesity treatment pipeline [1] - The CEO, Dr. Wu Jinzi, emphasized the importance of strategic partnerships to better meet the treatment needs of global obesity patients while advancing the clinical development of ASC30, ASC31, and ASC47 [1]

Core Insights - Ascletis Pharma Inc. presented promising data from Phase Ib studies of its obesity treatment candidates, ASC30 and the combination of ASC31 and ASC47, at ObesityWeek 2025, highlighting their efficacy and safety profiles [4][15]. Group 1: ASC30 Oral Tablet - The Phase Ib study of ASC30 oral tablet demonstrated a placebo-adjusted mean body weight reduction of up to 6.5% after 28 days of treatment, with the highest dose (60 mg) showing a maximum reduction of 9.3% [1][8]. - The study reported mild-to-moderate gastrointestinal adverse events (AEs), with no serious adverse events (SAEs) observed across all cohorts [7][8]. - The safety profile of ASC30 was consistent with or better than that of the GLP-1R agonist class, indicating it is safe and well tolerated [8]. Group 2: ASC30 Subcutaneous Injection - The Phase Ib study of ASC30 subcutaneous injection revealed an observed half-life of 46 days for the treatment formulation and 75 days for the maintenance formulation, supporting once-monthly and once-quarterly dosing [2][10]. - Similar to the oral tablet, the subcutaneous formulations were well tolerated, with only mild-to-moderate treatment-emergent adverse events reported [11][9]. - No serious adverse events or significant safety signals were detected, reinforcing the safety of ASC30 formulations [9][10]. Group 3: Combination of ASC31 and ASC47 - The combination of ASC31 and ASC47 significantly outperformed both tirzepatide and ASC31 monotherapy in weight loss, achieving a 44.8% reduction in weight compared to 19.1% for ASC31 alone, representing a 134% greater reduction [12][13]. - The combination also demonstrated superior results in body fat loss and muscle preservation, restoring the body composition of obese mice to that of healthy non-obese mice [13]. - ASC31 is a dual GLP-1R and GIPR peptide agonist, while ASC47 is designed for targeted delivery to adipose tissue, showcasing Ascletis' innovative approach in obesity treatment [12][13].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Ascletis Pharma Inc. 歌禮製藥有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1672） 本公告乃歌禮製藥有限公司（「本公司」或「歌禮」，連同其附屬公司稱為「本集 團」）自願作出，以使本公司股東及潛在投資者了解本集團的最新業務發展。 本公司董事（「董事」）會（「董事會」）宣佈在美國佐治亞州亞特蘭大舉行的2025年 肥胖周（ObesityWeek®）以壁報形式進行多項報告，包括ASC30每日一次口服片Ib 期研究的完整分析、ASC30每月一次注射劑Ib期研究以及ASC31與ASC47聯合用 藥臨床前研究。 1 自願性公告 歌禮在2025年肥胖周（ObesityWeek®）報告ASC30口服片 Ib期研究的完整分析、ASC30注射劑Ib期研究 以及ASC31與ASC47聯合用藥臨床前研究 － ASC30口服片Ib期研究的積極數據顯示，安慰劑校準後的平均體重下降高達 6.5%；在所 ...