Pricing shares at $20 each, below the intended price range, insulin delivery company Minimed Group Inc. debuted with an IPO on Nasdaq March 6, raising $560 million. The company offered a total of 28 million shares, which would have brought the Northridge, Calif.-based company $742 million in gross proceeds if the IPO had priced at the midpoint of the $25-to-$28 price range disclosed in February.
Investors looking for midteen percentage weight loss findings in Zealand Pharma A/S’s phase II study of once-weekly amylin analogue petrelintide were clearly disappointed by the actual 10.7% mean body weight reduction, as shares (Copenhagen:ZEAL) fell 36% March 6. But from the company’s standpoint, the combination of efficacy and safety data from the Zupreme-1 study bode well for a phase III trial expected to start later this year.
China Medical System Holdings Ltd. has received clinical trial approval from China’s National Medical Products Administration (NMPA) for CMS-D008 injection for overweight or obese individuals.
A new study has reinforced that GLP-1 receptor agonists are unlikely to produce durable weight loss, but indicates that rather than returning to the starting weight, individual weight gain will plateau at 75.5% of the weight lost.
Pfizer Inc. has discovered substituted pyridine compounds acting as sodium-dependent neutral amino acid transporter B(0)AT1 (SLC6A19) inhibitors and thus described as potentially useful for the treatment of diabetes, chronic kidney disease, nonalcoholic fatty liver disease (NAFLD; MASLD), phenylketonuria, metabolic syndrome, obesity, neurodevelopmental and autism-spectrum disorders, among others.
Sinopia Biosciences Inc. has entered into a target discovery collaboration with Ono Pharmaceutical Co. Ltd. focused on a group of rare metabolic disorders with significant unmet medical need.
China’s National Medical Products Administration has accepted for review Jiuyuan Genetic Biopharmaceutical Co. Ltd.’s drug application for Jikeqin, a biosimilar product to Novo Nordisk A/S’s Wegovy (semaglutide) for obesity.
Boehringer Ingelheim GmbH is stopping development of OSE Immunotherapeutics SA’s BI-770371 in metabolic dysfunction-associated steatohepatitis (MASH), after the SIRPα antagonist failed to show efficacy in a phase II study. Codevelopment of BI-770371 will continue for oncology indications, however, which was the initial target of the duo’s €1.4 billion (US$1.6 million) partnership in 2018.
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