--- title: "Wave crashes on obesity drug update; Kodiak’s reboot pays dividends" type: "News" locale: "en" url: "https://longbridge.com/en/news/280855062.md" description: "Shares of Wave Life Sciences fell over 50% after disappointing results for its obesity drug, WVE-007, which showed only modest reductions in body fat and waist size. In contrast, Kodiak Sciences announced it will expedite approval for its eye drug, Zenkuda, following success in a second Phase 3 trial, boosting its shares by over 50%. Pinnacle Medicines raised $89 million in Series B funding for its oral peptide drugs, while Pulmatrix will merge with Eos Senolytix to focus on peptide therapies for age-related diseases, with Eos shareholders owning 94% of the new entity." datetime: "2026-03-28T00:01:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280855062.md) - [en](https://longbridge.com/en/news/280855062.md) - [zh-HK](https://longbridge.com/zh-HK/news/280855062.md) --- # Wave crashes on obesity drug update; Kodiak’s reboot pays dividends _Today, a brief rundown of news from Wave Life Sciences and Kodiak Sciences, as well as updates from Pinnacle Medicines and Pulmatrix that you may have missed._ Shares of **Wave Life Sciences** plummeted by more than 50% Thursday on updated early-stage study results for a drug it’s testing in obesity. When compared to a placebo, a single, 240 milligram dose of the therapy, **WVE-007**, led to a 14% reduction in harmful “visceral” fats and a 3% decline in waist circumference after six months. However, a higher dose didn't appear more to be more potent, and participants lost only 1% of their body weight and 5% of total fat over that timeframe, numbers that fell short of Wall Street benchmarks heading into the results. Still, some analysts rose to Wave’s defense. **Leerink Partners’ Joseph Schwartz** wrote that while the results “may be disappointing on the surface,” the therapy's steady impact on measures of body composition were encouraging. Those effects showcase the drug's “differentiated mechanism,” added **Mizuho Securities' Salim Syed**. _— Ben Fidler_ **Kodiak Sciences** will “accelerate” an approval submission after an experimental eye drug it’s been developing succeeded in a second Phase 3 trial, the company said Thursday. The therapy, **Zenkuda**, had previously stumbled in multiple studies in age-related vision loss. But Kodiak revived the program after promising results in one trial in diabetic retinopathy and, on Thursday, said the drug had hit its marks in a second study. Analysts at the investment bank Jefferies noted before the readout that, while Zenkuda has a “limited” market opportunity in diabetic retinopathy, the new study could boost confidence in a “new formulation” of the drug as well as a following prospect called **KSI-501** that’s in late-stage testing for a form of age-related vision loss. The findings lifted Kodiak shares, which have rocketed more than sixfold over the last year, by over 50%. _— Ben Fidler_ **Pinnacle Medicines**, a biotechnology startup with a presence in China and the U.S., said Thursday it has raised $89 million in Series B funding to bring its lead candidates into clinical testing. Pinnacle is developing oral peptide drugs it hopes can deliver “biologic-level safety and efficacy,” it said in a statement. These kinds of therapies have gained traction with drugmakers in recent years as more convenient alternatives to injectable medications, and one, **Johnson & Johnson** and **Protagonist Therapeutics’** **Icotyde**, gained U.S. clearance this month for psoriasis. Pinnacle has raised $134 million to date. The most recent round was co-led by **LAV** and **Foresite Capital** and involved other investors, among them **OrbiMed** and **RA Capital Management**_. — Delilah Alvarado_ **Pulmatrix** will merge with **Eos Senolytix** in a deal that’ll see the combined company focus on peptide drugs for age-related diseases. The new entity will keep the Eos name and trade on the Nasdaq stock exchange under the ticker symbol "EOSX.” Pulmatrix originally planned to combine with San Diego-based **Cullgen**, but that fell through after Cullgen opted to be bought out by **Gyre Therapeutics**. Following the new deal, Eos shareholders will own 94% of the combined company, with Pulmatrix stockholders owning the remainder. The biotech’s lead drug, **PTC-2105**, currently being tested in sarcopenia — a type of muscle loss associated with aging — and sarcopenic obesity. _— Delilah Alvarado_ ### Related Stocks - [PULM.US](https://longbridge.com/en/quote/PULM.US.md) - [BBH.US](https://longbridge.com/en/quote/BBH.US.md) - [XPH.US](https://longbridge.com/en/quote/XPH.US.md) - [VHT.US](https://longbridge.com/en/quote/VHT.US.md) - [LABU.US](https://longbridge.com/en/quote/LABU.US.md) - [IBB.US](https://longbridge.com/en/quote/IBB.US.md) - [BBC.US](https://longbridge.com/en/quote/BBC.US.md) - [BIB.US](https://longbridge.com/en/quote/BIB.US.md) - [WVE.US](https://longbridge.com/en/quote/WVE.US.md) - [ARKG.US](https://longbridge.com/en/quote/ARKG.US.md) - [SBIO.US](https://longbridge.com/en/quote/SBIO.US.md) - [IXJ.US](https://longbridge.com/en/quote/IXJ.US.md) - [FBT.US](https://longbridge.com/en/quote/FBT.US.md) - [XLV.US](https://longbridge.com/en/quote/XLV.US.md) - [PBE.US](https://longbridge.com/en/quote/PBE.US.md) - [XBI.US](https://longbridge.com/en/quote/XBI.US.md) - [IHE.US](https://longbridge.com/en/quote/IHE.US.md) - [KOD.US](https://longbridge.com/en/quote/KOD.US.md) ## Related News & Research - [Medicare is about to change a drug program that held down the cost of premiums. 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