Stock Track | Laekna Shares Surge as Obesity Drug Advances in Clinical Trials

Stock Track10-18

Shares of Laekna Biotechnology Holdings Ltd. (HKG:02105) soared 7.39% on Thursday morning after the company announced a key milestone in the development of its investigational obesity treatment.

Laekna has started dosing patients in a subcutaneous cohort as part of the Phase I clinical trial for LAE102, its novel antibody targeting the ActRIIA protein involved in muscle repair and fat processing. According to the company's filing, as of September 30th, 50% of the planned groups for intravenous injection had already received their doses.

Investors cheered the progress, as LAE102 could potentially offer a new therapeutic option for overweight and obesity by promoting lean muscle growth and reducing fat mass. Successful clinical development and regulatory approval would allow Laekna to tap into a large and lucrative market.

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