PEGBIO CO-B (02565) surged over 15% in afternoon trading, reaching an intraday high of HK$24.14, setting a new record since listing. As of press time, the stock was up 14.82% to HK$23.24, with a trading volume of HK$20.32 million.

According to PEGBIO CO-B's prospectus, PB-119 for treating T2DM (Type 2 Diabetes Mellitus) is expected to receive NDA (New Drug Application) approval in 2025 and will be commercialized in China. Meanwhile, PB-119 has initiated Phase Ib/IIa clinical trials for obesity treatment, completing patient recruitment in June 2024.

Beyond T2DM and obesity, PEGBIO stated that it will explore PB-119's therapeutic potential in combination therapies to further expand its indication scope.

Notably, the weight loss drug sector has been trending in recent years, with GLP-1 receptor agonists represented by semaglutide gaining global popularity. Analysts noted that weight loss consumption exhibits typical self-indulgent consumption characteristics, easily generating blockbuster products. Against the backdrop of overseas manufacturers like Novo Nordisk and Eli Lilly exceeding performance expectations and accelerated domestic R&D progress, the industry trend for weight loss drugs is expected to become more defined. It is anticipated that with subsequent drug approvals, China's weight loss drug market is poised for rapid growth.