Shares of Laekna Biotechnology Holdings Ltd. (HKG:02105) surged over 17% on Thursday after the company announced a key milestone in the clinical development of LAE102, its investigational treatment for overweight and obesity.

LAE102 is a novel antibody that targets the ActRIIA protein, which plays a crucial role in muscle repair and fat processing in the body. By inhibiting ActRIIA, the drug aims to promote lean muscle growth while reducing fat mass, potentially offering a new therapeutic approach for obesity.

In a filing with the Hong Kong bourse, Laekna revealed that it has started dosing patients in a subcutaneous cohort as part of the ongoing Phase 1 clinical trial for LAE102. As of September 30th, 50% of the planned groups for intravenous injection had already received their doses, marking significant progress in the study. With obesity rates on the rise globally, a safe and effective treatment like LAE102 could have substantial market potential if it successfully navigates the clinical and regulatory process.