Elevai Labs (ELAB) said Thursday that its Elevai Biosciences subsidiary filed two patent applications for its lead candidate, EL-22, to treat muscle loss in obese patients.

The applications cover both standalone and combination therapies with GLP-1 receptor agonists, according to the company.

A phase 1 study of EL-22 in South Korea has been completed, showing safety and tolerability in healthy volunteers, Elevai said, adding it plans to evaluate the investigational drug's efficacy in combination with GLP-1 to counteract muscle wasting associated with the medications while promoting weight loss.

Shares of the drug developer rose more than 30% in recent premarket activity.

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