The analyst rating for ASCLETIS-B (01672.HK) is a Buy/High Risk, based on the positive data from the US Phase 2a study of its oral GLP-1 drug ASC30 for obesity treatment. The study showed significant weight reduction in the medium/high dosage groups, exceeding Citi's expectations, and demonstrated good tolerability with low discontinuation rates due to adverse events. Additionally, the absence of liver safety signals further supports the drug's potential. Citi believes these results enhance confidence in future collaborations and anticipate a positive stock price reaction, leading to the reiterated rating and a target price of HKD32.
