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Roche Announces Positive Phase I Results for CT-996 Obesity Drug, Shares Rise 7.5%

Jul 17, 2024, 10:22 AM

Roche has announced positive early results from a Phase I clinical trial of its oral GLP-1 receptor agonist, CT-996, aimed at treating obesity. The trial demonstrated meaningful weight reduction in patients with obesity, showing a placebo-adjusted mean weight loss of 6.1% within four weeks. The drug, which can potentially be dosed without regard to meal timing, is seen as a promising candidate for oral weight maintenance therapy following weight loss induced by injectables. Following the announcement on Wednesday, Roche's shares (RHHBY, ROG.CH) rose by 7.5% in premarket trading. Conversely, shares of competitors Novo Nordisk and Eli Lilly fell by 3.1% and 3.4% respectively. The drug was acquired as part of Roche's $3.1 billion takeover of Carmot.