PMGC Holdings Shares Are Up Today: What's Going On?

PMGC Holdings Inc. ELAB shares are trading higher Friday after the company announced that its subsidiary, Northstrive Biosciences, will present at an upcoming UCLA symposium on anti-obesity treatments.

What To Know: The presentation will highlight Northstrive’s lead asset, EL-22, a first-in-class engineered probiotic designed to preserve muscle mass in patients undergoing weight-loss treatments, including GLP-1 receptor agonists.

The symposium, organized by UCLA’s Metabolism Theme at the David Geffen School of Medicine, will bring together leading clinicians, researchers and drug developers to address the challenges posed by weight loss therapies, particularly muscle and bone loss associated with GLP-1 receptor agonists.

Studies indicate that 30-50% of body weight lost through GLP-1 therapy consists of lean muscle mass. This is a significant issue that lacks an approved treatment. Northstrive’s EL-22 aims to fill this gap by offering a potential combination therapy to mitigate muscle loss.

The announcement may have sparked investor enthusiasm, as the company’s participation in the symposium is expected to provide exposure to key stakeholders in the obesity treatment sector, including potential investors and pharmaceutical partners.

Price Action: PMGC shares were up 61.1% at $3.19 at the time of writing, according to Benzinga pro.

Read Next:

• UnitedHealth Announces Replacement For Murdered Executive: Here’s Who Will Lead Insurance Unit

Image Via Shutterstock.