Shares of ASCLETIS-B (HKEX: 01672) have risen more than 7%. At the time of writing, the stock is up 7.2%, trading at HK$10.42 with a turnover of HK$13.24 million.
The company has announced that it has recently received approval from the U.S. Food and Drug Administration (FDA) for an Investigational New Drug (IND) application to commence a Phase I study for ASC35. ASC35 is a potential best-in-class peptide dual agonist targeting both the GLP-1 receptor (GLP-1R) and the GIP receptor (GIPR), designed for subcutaneous administration once a month for the treatment of obesity.
In vitro studies indicate that ASC35's agonist activity on both GLP-1R and GIPR is approximately four times stronger than that of tirzepatide. Based on all preclinical research, ASC35 demonstrates superior efficacy compared to tirzepatide on a per-milligram peptide basis.
GIC Investment Activity
Notably, the latest data from the Hong Kong Stock Exchange reveals that on June 23, GIC Private Limited increased its stake in ASCLETIS-B by 4.797 million shares at an average price of HK$9.9841 per share, involving a total sum of approximately HK$47.89 million.
Following this purchase, GIC's total shareholding stands at 89.353 million shares, representing an 8.36% ownership stake. This marks the third disclosed increase in its holding of ASCLETIS-B shares this year, with previous purchases occurring in February and May.
The consistent share purchases by GIC throughout the year reflect the sustained attention from international capital markets on the value of ASCLETIS-B's innovative drug pipeline.
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