Ascletis Pharma-B (01672) surged more than 5% before noon. As of the time of writing, the stock was up 5.12%, trading at HK$13.56, with a turnover of HK$13.2847 million. On the news front, Ascletis Pharma previously announced positive data from its US Phase IIa study of the oral GLP-1 drug ASC30 for the treatment of obesity.

A Citigroup research report stated that this data further demonstrates ASC30's best-in-class potential and strengthens confidence in future collaborations. The report anticipates a positive reaction in the share price, reiterating a "Buy/High Risk" rating with a target price of HK$32.

Oriental Securities noted that ASC30's weight loss data is superior, its safety profile is favorable, and its molecular patent has been granted in the US, indicating significant business development (BD) potential. Furthermore, the subcutaneous injection formulation of ASC30, developed by Ascletis based on its Ultra-Long-Acting Platform (ULAP) for weight loss and maintenance therapy, demonstrates apparent half-lives of 46 days and 75 days, respectively.

This significantly exceeds the half-lives of other ultra-long-acting GLP-1 drugs, while also offering superior safety advantages.