HK Stock Market Move | INNOVENT BIO (01801) rose nearly 3% in after-hours trading. The company will submit a new drug application for Marsteadapeptide 9mg for adult weight control.

INNOVENT BIO (01801) rose nearly 3% in the final trading session, with a 2.62% increase at the time of writing, reaching 92 Hong Kong dollars with a trading volume of 747 million Hong Kong dollars. On the news front, on November 20th, INNOVENT BIO announced that the Phase III clinical study (GLORY-2) of the injection IBI362 in Chinese overweight and obese population has achieved the primary endpoint and all key secondary endpoints. INNOVENT BIO will soon submit a new drug application for the use of 9mg IBI362 for adult weight control to regulatory authorities. Public information shows that IBI362 is a glucagon-like peptide-1 (GLP-1) dual receptor agonist developed by INNOVENT BIO and Eli Lilly, and is the world's first approved GCG/GLP-1 dual receptor agonist. The drug has been approved for two indications in China, for long-term weight control in overweight or obese adults and for blood sugar control in adults with type 2 diabetes.