BUZZ-China's Ascletis hits 6-year peak on good results for weight loss drug
Shares of Ascletis Pharma Inc surged 8.7% to HK$7.99, marking a six-year peak following positive Phase 1B results for its weight loss drug ASC47. The stock is on track for its largest one-day gain since March 3 and has risen for three consecutive sessions. The U.S. FDA has approved the Investigational New Drug application for ASC47 in combination with semaglutide for obesity treatment. Year-to-date, the stock has increased by 144.2%. Meanwhile, Hong Kong's healthcare index and Hang Seng Index both fell by 0.1%.
Shares of Chinese pharmaceutical products developer Ascletis Pharma Inc (1672.HK) jump 8.7% to HK$7.99, their highest since March 2019
Stock on course for the biggest one-day gain since March 3; on track for third straight session of rise
Ascletis announces positive topline results of Phase 1B studies of weight loss drug candidate ASC47 monotherapy in Australia
Says U.S. Food and Drug Administration has cleared the U.S. Investigational New Drug application for ASC47 in combination with semaglutide for the treatment of obesity
Hong Kong’s healthcare index (.HSCIH) and Hang Seng Index (.HSI) both slip 0.1%
Stock up 144.2% YTD
