PMGC Holdings Soars 10.36% on FDA Encouragement for Obesity Drug

On April 25, 2025, PMGC Holdings saw a significant rise of 10.36% in pre-market trading, driven by positive developments surrounding its subsidiary, Northstrive Biosciences.

Northstrive Biosciences received encouraging feedback from the FDA regarding its novel obesity drug, EL-22. The FDA's responses indicated that Northstrive's pharmacology and nonclinical studies support the safety and activity of EL-22, which is designed to preserve muscle during weight loss treatments. This positive regulatory outlook has strengthened the case for EL-22's development and paved the way for a Phase 2 clinical trial.

Northstrive Biosciences is actively preparing for the production of EL-22 in collaboration with cGMP manufacturing partners, demonstrating its readiness to advance to clinical trials. The company aims to file an Investigational New Drug application in 2025, marking a significant step forward in its efforts to address the unmet need in obesity management.