Shares of biotech startup Structure Therapeutics surge more than 30% on promising obesity pill data
Publishing timestamp: 2023-09-29 12:09:28
Summary
Structure Therapeutics' experimental obesity pill showed promising results in a small early-stage trial, leading to a surge in the company's shares. The pill, which belongs to the same class of drugs as Novo Nordisk's Ozempic and Wegovy, helped overweight or obese participants lose an average of 10 pounds after four weeks of treatment. Structure plans to conduct further trials for diabetes and obesity treatment. The obesity drug industry is expected to be a $100 billion global market, and Structure's pill could potentially compete with other oral obesity drugs from Eli Lilly, Novo Nordisk, and Pfizer. The availability of cheaper and more convenient pill versions of GLP-1s could increase access for patients and expand the market for obesity drugs.
Sentiment: POSITIVE
Tickers: UNDEFINED, NOVO.B-DK, LLY, PFE,
Keywords: business, biotechnology, novo nordisk a/s, structure therapeutics inc, pfizer inc, pharmaceuticals, business news, biotech and pharmaceuticals, breaking news, eli lilly and co, health care industry,
Source: https://www.cnbc.com/2023/09/29/obesity-pill-data-boosts-structure-therapeutics-shares.html