Madrigal Pharmaceuticals: Perceived Threat From Eli Lilly Is Overblown

seekingalpha02-10

On Tuesday, Feb 6, when Eli Lilly announced their Q4 2023 report, the stocks of NASH (nonalcoholic steatohepatitis) drug developers, including Madrigal Pharmaceuticals, all came under selling pressure...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2410040875?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1399768633/image_1399768633.jpg","is_english":true,"pubTime":"2024-02-10 17:43","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2410040875","market":"us","top_or_hot":-1,"title":"Madrigal Pharmaceuticals: Perceived Threat From Eli Lilly Is Overblown","media":"seekingalpha","content":"<div>\n<p>On Tuesday, Feb 6, when Eli Lilly announced their Q4 2023 report, the stocks of NASH (nonalcoholic steatohepatitis) drug developers, including Madrigal Pharmaceuticals, all came under selling pressure...</p>\n\n<a href=\"https://seekingalpha.com/article/4669262-madrigal-pharmaceuticals-perceived-threat-from-eli-lilly-is-overblown\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Madrigal Pharmaceuticals: Perceived Threat From Eli Lilly Is Overblown</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMadrigal Pharmaceuticals: Perceived Threat From Eli Lilly Is Overblown\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-10 17:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4669262-madrigal-pharmaceuticals-perceived-threat-from-eli-lilly-is-overblown><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>On Tuesday, Feb 6, when Eli Lilly announced their Q4 2023 report, the stocks of NASH (nonalcoholic steatohepatitis) drug developers, including Madrigal Pharmaceuticals, all came under selling pressure...</p>\n\n<a href=\"https://seekingalpha.com/article/4669262-madrigal-pharmaceuticals-perceived-threat-from-eli-lilly-is-overblown\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2264538146.SGD","symbol_name":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","start_time":0,"source_url":"https://seekingalpha.com/article/4669262-madrigal-pharmaceuticals-perceived-threat-from-eli-lilly-is-overblown","article_id":"2410040875","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1399768633/image_1399768633.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2410040875","pubTimestamp":1707558234,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"On Tuesday, Feb 6, when Eli Lilly announced their Q4 2023 report, the stocks of NASH  drug developers, including Madrigal Pharmaceuticals, all came under selling pressure.It seems that the reason for the sell-off was that Eli Lilly's Tirzepatide  reported positive p2 data in NASH.LLY's p2 NASH trial data was well-received. However, I'm unsure how positive the data are and the threat to MDGL's Resmetirom's NASH market opportunity and the 2-day sell-off seems overblown.In this article, I take a look and discuss my thoughts.Gilnature On Tuesday Feb 6, when Eli Lilly  announced their Q4 2023 report, the stocks of NASH  drug developers, e.g. Madrigal Pharmaceuticals , Viking Therapeutics , Akero Therapeutics , Sagimet Biosciences  etc., all come under selling pressure. The reason for the stock market sell-off appears to be the perception that LLY's Tirzepatide 's positive[?","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4588":"碎股","LU0097036916.USD":"贝莱德美国增长A2 USD","LLY":"礼来","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","VKTX":"Viking Therapeutics, Inc.","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU0882574055.USD":"富达全球健康医疗A ACC","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","BK4505":"高瓴资本持仓","IE0002141913.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (USD) ACC","BK4581":"高盛持仓","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","AKRO":"Akero Therapeutics","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","IE00BFTCPJ56.SGD":"Janus Henderson Global Life Sciences A Acc SGD","SGMT":"Sagimet Biosciences Inc.","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","SRPT":"Sarepta Therapeutics","LU2362541273.HKD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (HKD) ACC","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","VRTX":"福泰制药","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU2362541513.USD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (USD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU2491049909.HKD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (HKD) ACC","LU0114720955.EUR":"SUSTAINABLE GLOBAL HEALTH CARE \"A\" INC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU2491050071.SGD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (SGDHDG) ACC","FWD":"AB DISRUPTORS ETF","MDGL":"Madrigal Pharmaceuticals, Inc.","LU2491050154.USD":"WELLINGTON SUSTAINABLE OUTCOMES \"A\" (USD) ACC","LU0079474960.USD":"联博美国增长基金A","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","IE0009355771.USD":"骏利亨德森环球生命科技A Acc","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4139":"生物科技","LU2362540622.SGD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (SGDHDG) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","NVO":"诺和诺德","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0109394709.USD":"富兰克林生物科技新领域基金A (acc)","ICPT":"Intercept Pharmaceuticals"},"translate_title":"牧歌制药：来自礼来公司的威胁被夸大了","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VRTX":1,"AKRO":1,"LLY":1,"MDGL":1,"NVO":1,"ICPT":1,"FWD":1,"SGMT":1,"SRPT":1,"VKTX":1},"content_text":"On Tuesday, Feb 6, when Eli Lilly announced their Q4 2023 report, the stocks of NASH (nonalcoholic steatohepatitis) drug developers, including Madrigal Pharmaceuticals, all came under selling pressure.It seems that the reason for the sell-off was that Eli Lilly's Tirzepatide (their drug for Type 2 diabetics and weight loss) reported positive p2 data in NASH.LLY's p2 NASH trial data was well-received. However, I'm unsure how positive the data are and the threat to MDGL's Resmetirom's NASH market opportunity and the 2-day sell-off seems overblown.In this article, I take a look and discuss my thoughts.Gilnature On Tuesday Feb 6, when Eli Lilly (LLY) announced their Q4 2023 report, the stocks of NASH (nonalcoholic steatohepatitis) drug developers, e.g. Madrigal Pharmaceuticals (NASDAQ:MDGL), Viking Therapeutics (VKTX), Akero Therapeutics (AKRO), Sagimet Biosciences (SGMT) etc., all come under selling pressure. The reason for the stock market sell-off appears to be the perception that LLY's Tirzepatide (their obesity drug)'s positive[?] p2 NASH data is a material threat to the NASH potential of MDGL's Resmetirom. MDGL 5-day chart ended on 2024-2-8 (Seeking Alpha) Safety data For any reader who is new to the space, please refer to this May 2023 FDA briefing document for an Advisory Committee meeting reviewing Intercept Pharmaceuticals (ICPT) NASH drug application; as well as the FDA 2018 draft guidance for NASH drug developers. Both are informative for any who wish to learn about NASH and the FDA's regulatory standards for the industry. On safety data, there was a post on X that mentions about possible \"class-effect mediated effect on sex hormones with unclear long-term implications.\" Here is what MDGL's Feb 8 PR announcing the publication of their P3 data in New England Journal of Medicine stated regarding the safety data:  The incidence of serious adverse events was similar across the treatment groups, 10.9%, 12.7%, and 11.5% in 80 mg, 100 mg and placebo groups respectively. Transient diarrhea and nausea were more frequent with resmetirom at the beginning of therapy. No increase in the incidence of diarrhea and nausea was noted among resmetirom-treated patients relative to placebo-treated patients after the first few weeks of treatment. There was no incidence of drug-induced liver injury. There were no increases in bone fractures, or fracture risk score with resmetirom or increase in adverse events related to thyroid hormone effects outside the liver such as heart rate changes or sex hormone abnormalities. (Source; bold & italic emphasis added)  In summary, the noted changes in sex hormone or \"sex hormone abnormalities\" has not shown to be associated with increase in adverse events in MDGL's P3 NASH trial so far. FDA's guidance on NASH efficacy endpoints I will focus in this paragraph on \"efficacy endpoints\" required by the FDA. Such efficacy endpoints requirements can be find on the page 7-8 of the FDA 2018 draft guidance document:   [On page 7] \"Trial design and efficacy endpoints Sponsors should consider the following trial design and efficacy endpoints for clinical trials in drug development for treatment of noncirrhotic NASH with liver fibrosis: • Sponsors should evaluate drugs for the treatment of NASH in double-blind, placebo controlled clinical trials of sufficient duration and size. • The ultimate goal of NASH treatment is to slow the progress of, halt, or reverse disease progression and improve clinical outcomes (i.e., prevent progression to cirrhosis and cirrhosis complications, reduce the need for liver transplantation, and improve survival). • Because of the slow progression of NASH and the time required to conduct a trial that would evaluate clinical endpoints such as progression to cirrhosis or survival, the FDA recommends sponsors consider the following liver histological improvements as endpoints reasonably likely to predict clinical benefit to support accelerated approval under the regulations:  - Resolution of steatohepatitis on overall histopathological reading and no worsening of liver fibrosis on NASH CRN fibrosis score. Resolution of steatohepatitis is defined as absent fatty liver disease or isolated or simple steatosis without steatohepatitis and a NAS score of 0-1 for inflammation, 0 for ballooning, and any value for steatosis OR - Improvement in liver fibrosis greater than or equal to one stage (NASH CRN fibrosis score) and no worsening of steatohepatitis (defined as no increase in NAS for ballooning, inflammation, or steatosis);  [On page 8] OR  - Both resolution of steatohepatitis and improvement in fibrosis (as defined above).\"  Click to enlarge (Source: page 7-8; Bold & italic emphasis added by author). In summary: the efficacy endpoints which the FDA views \"reasonably likely to predict clinical benefit to support accelerated approval\" are: 1. NAS score improvement without worsening of liver fibrosis [scarring], OR 2. liver fibrosis improvement greater or equal to one stage, without worsening of NAS; OR 3. meeting both these efficacy endpoints. Efficacy data from MDGL, LLY, and Novo Nordisk (NVO) Let's now turn to the reported NASH efficacy data. The table below lists the three companies' NASH trial efficacy data. MDGL's is from their phase 3 and the other two are from their phase 2. (Color boxes and texts are added for emphasis).   MDGL's P3 NASH efficacy data: Statistically-Significant in meeting BOTH efficacy endpoints MDGL Jan 2024 Presentation(Source: slide 9)   LLY's P2 NASH efficacy data: no statistical p values disclosed for either endpoint; fibrosis improvement without worsening NAS is described as \"clinically-meaningful.\" LLY Q4 2023 report(Source: slide 17*) *More discussion on LLY's NASH p2 efficacy data to follow)     NVO's two P2 NASH trials efficacy data: Trial#1: \"71 patients were enrolled between June 18, 2019, and April 22, 2021; 49 (69%) patients were female and 22 (31%) were male. Patients had a mean age of 59·5 years (SD 8·0) and mean BMI of 34·9 kg/m2 (SD 5·9); 53 (75%) patients had diabetes. 47 patients were randomly assigned to the semaglutide group and 24 to the placebo group. After 48 weeks, there was no statistically significant difference between the two groups in the proportion of patients with an improvement in liver fibrosis of one stage or more without worsening of NASH (five [11%] of 47 patients in the semaglutide group vs seven [29%] of 24 in the placebo group; odds ratio 0·28 [95% CI 0·06-1·24; p=0·087). There was also no significant difference between groups in the proportion of patients who achieved NASH resolution (p=0·29).\" NVO failed to meet either efficacy endpoint in this p2 trial! (Source)   Trial#2: \"The authors found that the percentage of patients that achieved the primary endpoint was significantly higher in the semaglutide groups than in the placebo groups with the highest percentage observed in the 0.4 mg group (59% vs. 17%; OR 6.87; 95% CI: 2.60-17.63; P<0.001). However, semaglutide did not show any improvement of at least one fibrosis stage without worsening of NASH in patients who received semaglutide 0.4 mg compared to the placebo group (OR 1.42; 95% CI: 0.62-3.28; P=0.48). The main analysis included only patients with fibrosis stage of F2 or F3 (n=230).Here, NVO's p2 trial meet the NASH resolution without worsening fibrosis; but not improving the liver fibrosis, without worsening of NASH. (Source)     Click to enlarge *Note: It was said in the LLY's Q4 earning call, that not achieving a statistically significant fibrosis improvement endpoint was due to the fact that their P2 trial was not \"powered\" to do so [though I wonder if the NASH resolution improvement without worsening fibrosis is also not statistically significant either, as LLY did not disclose the p values) There are recent SA articles (#1, #2) that seem to estimate that LLY's NASH p2 data is positive enough to pose a credible threat to MDGL's market potential in NASH. Suffice to say, I don't share such a view and find LLY's explanation of p2 being \"under-powered\" un-convincing for a mega-cap company such as LLY, that in comparison [to MDGL], have almost unlimited financial resources to run sufficiently-powered trials, e.g. NVO's NASH p2 trials. If this excuse has come from small companies, their so-called positive-but-not statistically-significant data would have been received with much skepticism. Apparently, LLY was given a free pass in this case. In contrast, NVO did not excuse their NASH P2 data with the same excuse that LLY used. Namely, one P2 failed in both efficacy endpoints, while the other failed in liver fibrosis improvement, without worsening of NASH resolution. Regardless, even if LLY and NVO press on with their NASH programs, based off their respective mixed or failed p2 efficacy data, it would take both these companies at least 3-5 years to complete their p3 trials, submit applications and for the FDA to review their applications. This best-case scenario hinges entirely on the success of their p3 NASH trials, which is by no means a shoo-in, in my opinion. All this suggests that the perceived threat of LLY's entry into the NASH market, based on their p2 data, is premature and overblown. MDGL's March 14, 2024 PDUFA date in NASH As I discuss above, MDGL is the only company, regardless of current market cap, that has met both NASH efficacy endpoints, and is expecting the FDA's decision in this serious un-met medical need. The company states that if approved, they will first target the F2/F3 NASH patients in the US (315,000 patients; see slide 5 below). MDGL Jan 2024 Presentation ICER has estimated the drug, if approved/launched, is cost effective between $39,600 to $50,100). A back-of-the-envelope calculation would look something like this: ~10% of 315000 (or 30K) and $40K annual cost would implies a annual sale of $1.2B or $1B, which is what a recent SA article opined to be the base case. I understand that valuation for a clinical-stage, newly-turned-commercial-stage company, such as MDGL, is perhaps more like art [value in the eye of the beholders] than exact science. However, given other commercial-stage biotech's valuations (see table below), I'd argue that a base-case of $1B is no reason for pessimism, considering MDGL will most likely become the first, and only safe & effective NASH drug, where success has eluded many companies' prior attempts.   Ticker  PE (FWD)*/MC ($B) per SA on 2024-2-8    LLY 58/$652 B   NVO 35/$529 B   Vertex Pharmaceuticals (VRTX) 25/$108 B   Sarepta Therapeutics (SRPT) N/A*; 2023 sale=$1.45B/$12B    MDGL N/A*; from 2026 to 2028 sales estimated >$1B (See below)   Click to enlarge Global X 2024 Market Research (Source: color box added; slide 111) As can be seen, LLY, NVO, VRTX all are highly richly valued, i.e. having a very high P/E (FWD) ratio, which is likely beyond reach for MDGL in the near term. However, if using SPRT's as an example, a multiple of 8=12/1.45 would suggest a MC of $8B can be supported with an annual sale of $1B. In other words, MDGL's potential upside can be up to ~240% [=($8B/$3.38B)x100%] or higher, if/when their NASH drug is successfully approved and launched, and the market values them in line with how other commercial-stage companies are valued. Financials In the Q3 2023 filing, MDGL reported a Quarterly net loss of $99M, and as of Sep 30, 2023, the cash and cash equivalent is $359M (see page 12), which implies a cash runway of 3-4 quarters. Conclusion MDGL is certainly a high-risk and higher reward, speculative biotech investment opportunity. Like many others in this space, the volatility and the risks can make it not a good fit for many investors. Furthermore, the probability of a sizable equity raise near or after approval is high, given this is a highly-anticipated launch in a highly competitive health care space. However, in my experience, the fears of sell-the-[approval]-news or offering-sell offs, are often short-lived and immaterial for long-term investors, e.g. LLY, NVO, VRTX. As far as LLY or NVO's weight loss drugs for NASH, I applaud their efforts, and root for their or any other NASH players potential successes in this indication. Thanks for reading. I hope that this article is clear and helpful for your research. All the best!  Submitted on the evening of Feb 8, 2024","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2410040875"}