BUZZ-China's Ascletis hits 6-year peak on good results for weight loss drug
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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%.
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