Ascletis leaps on positive oral obesity candidate progress

Hong Kong-based Ascletis Pharma HKEX:1672) today announced positive interim results from the first two cohorts of its randomized, double-blind, placebo-controlled Phase Ib multiple ascending dose (MAD) study, conducted in the USA, of ASC30 oral once-daily tablet in patients with obesity (body mass index (BMI): 30-40 kg/m2).

Ascletis shares rocketed more than 29% to HK$6.19, as the drug demonstrated a future as an oral candidate in the ever-growing weight management space that is attracting more attention. The latest estimate from GlobalData suggests that sales of obesity medications will reach $173.5 billion in the seven major markets (7MM: USA, France, Germany, Italy, Spain, UK and Japan) by 2031.

The results of cohort 2 were in-line with that of Roche's (ROG: SIX) oral hopeful CT-996, a recent entrant, which showed placebo-adjusted mean weight loss of 6.1% at week four in a Phase I study. Eli Lilly (NYSE: LLY), the front-runner in the oral incretin space, and owner of the blockbuster tirzepatide (trade names Zepbound and Mounjaro) is expected to announce highly anticipated Phase III weight-loss results for orforglipron in the second quarter .