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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.