Ascletis Pharma-B (01672) experienced a surge of over 6% in afternoon trading. As of the time of writing, the stock was up 6.14%, trading at HK$13.66, with a turnover of HK$35.85 million. The movement follows the company's previous announcement of positive data from its US Phase IIa study for the oral GLP-1 drug ASC30, aimed at treating obesity. A Citigroup research report noted that this data further demonstrates ASC30's best-in-class potential and bolsters confidence in future collaborations, anticipating a positive reaction in the share price; the bank reiterated its "Buy/High Risk" rating with a target price of HK$32. Notably, Ascletis previously announced that its board believes the company's current share price is undervalued and, on December 15, resolved to increase the maximum amount for share buybacks from HK$300 million to HK$500 million, a decision based on significant progress across multiple core pipelines.