Shares of LAEKNA-B, the biotech firm traded on the Hong Kong exchange, surged 5.77% in Thursday's intraday trading session. The stock's rally came after the company announced the commencement of an investigational new drug-enabling study for its muscle weakness treatment candidate LAE123.
LAE123 is a novel drug that inhibits activin type II receptors ActRIIA/IIB, which play a key role in preventing sarcopenia or age-related muscle loss and weakness. By targeting these receptors, Laekna aims to develop an effective therapy for combating muscle wasting conditions that impact many elderly patients.
The initiation of this key study marks an important milestone for LAE123, as Laekna has now advanced the promising drug candidate to the pre-clinical development stage. Positive data from these studies could pave the way for future clinical trials and potential regulatory approvals down the line.
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