Roche's Obesity Drug Shows Positive Phase I Results, Shares Rise 4.7% After 18.8% Weight Loss

May 16, 2024, 09:25 AM

Roche has reported positive Phase I results for its experimental obesity drug, developed by newly acquired Carmot Therapeutics. The trial showed an average weight loss of approximately 18.8%, leading to a 4.7% increase in Roche shares at the market open on Thursday. The company described the results as 'encouraging' amidst growing competition in the obesity drug market. This marks the first clinical readout since Roche acquired Carmot Therapeutics for $2.7 billion.