On September 18th during trading, shares of Chongqing Zhifei Biological Products Co.,Ltd. surged over 6% intraday following positive news announced the previous evening.
The company disclosed that CA111 injection, developed by its subsidiary Chongqing Chen'an Biological Pharmaceutical Co., Ltd., has received clinical trial approval from the National Medical Products Administration (NMPA). The regulatory approval allows the company to conduct clinical trials in adults who are overweight or obese.
CA111 injection is a dual agonist targeting both glucose-dependent insulinotropic polypeptide (GIP) receptors and glucagon-like peptide-1 (GLP-1) receptors. According to the company's announcement, as of the disclosure date, only tirzepatide injection has been approved for market launch in China. Based on publicly available information, no other domestic products targeting the same mechanism have received market approval.
In the same announcement, Chongqing Zhifei Biological Products Co.,Ltd. noted that while the clinical trial approval for CA111 injection will not have a significant impact on the company's near-term performance, it will help strengthen the company's research and development capabilities and enhance its pipeline of investigational products.
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