NEWPORT BEACH, Calif. - Elevai Biosciences Inc., a subsidiary of Elevai Labs Inc. (NASDAQ:ELAB), today announced past preclinical findings from 2022, showing that its experimental drug EL-32 may enhance muscle preservation and fat loss in obesity treatments. The study, conducted on aged C57BL/6J mice, demonstrated significant improvements in grip strength, motor function, and body composition.
The research highlighted the dual-action blocker's ability to target myostatin and activin-A, which are important in muscle regulation. Over a 15-week period, mice treated with EL-32 showed increased grip strength and improved motor performance as measured by longer rotarod latency durations. Additionally, DEXA scans revealed optimized body composition changes.
Deniel Mero, Co-founder of Elevai Biosciences, noted the potential of EL-32 to treat obesity while preserving muscle mass, especially when used with GLP-1 receptor agonists such as Ozempic and Mounjaro, which are known to cause muscle loss. Mero emphasized the importance of myostatin and activin-A as validated targets in muscle mass and strength building.
Elevai is planning further animal studies to progress EL-32 towards an Investigational New Drug (IND) application. The company aims to share the full preclinical data at a future scientific conference.
Elevai Labs Inc., the parent company of Elevai Biosciences, specializes in medical aesthetics and biopharmaceutical drug development, with a focus on skin aesthetics and obesity and metabolic health treatments. Its diverse portfolio includes wholly-owned subsidiaries in the medical aesthetics and biopharmaceutical sectors.
This news is based on a press release statement and contains forward-looking statements that involve inherent uncertainties. Investors are cautioned that actual results may differ materially from those anticipated. Elevai Labs has provided no obligation to update these statements, and investors are urged to consider the associated risks detailed in the company's SEC filings.
The information presented here does not constitute an endorsement of EL-32's efficacy or potential market success, as further research and regulatory approvals are pending.
In other recent news, Elevai Labs has made significant strides in various areas of medical aesthetics and biopharmaceuticals. The company recently filed two patent applications for its lead candidate, EL-22, targeting muscle loss in obese patients, marking a potential advancement in obesity treatment. In addition, Elevai Labs has commenced a clinical study to evaluate the efficacy of their exosome-based skincare products and has priced its public offering at $8 million, aiming to raise this amount before fees and expenses.
The company has also released findings suggesting its exosome-based products may enhance the effects of laser therapy in treating melasma. Elevai Labs has reported promising results from a hair restoration study conducted in partnership with the National Hair Loss Medical Aesthetics and has filed two patents for new hair and scalp care technology in collaboration with Yuva Biosciences.
Furthermore, Elevai Labs has reported positive results from a skincare study using its product, Elevai enfinity™, indicating significant improvement in various skin appearance metrics. On the corporate side, Elevai Labs has modified its license agreement with INmune Bio Inc., secured a $200,000 unsecured credit line from NorthStrive Fund II LLP, and announced the formation of two wholly owned subsidiaries. The company has acquired exclusive licensing rights for two novel drug candidates from South Korean company MOA Life Plus Co., Ltd., and entered into an exclusive distribution agreement with ILIA International Ltd. for its exosome-based skincare products in Taiwan. These are recent developments from Elevai Labs.
InvestingPro Insights
Elevai Labs Inc. (NASDAQ:ELAB) is navigating challenging financial waters as it pursues its ambitious research goals. According to InvestingPro data, the company's market capitalization stands at a modest $4.6 million, reflecting its early-stage status in the biopharmaceutical industry. Despite impressive revenue growth of 140.04% over the last twelve months, Elevai Labs is not yet profitable, with an operating income margin of -195.46%.
An InvestingPro Tip highlights that Elevai Labs is "quickly burning through cash," which is not uncommon for biotech companies in the research and development phase. This aligns with the company's focus on advancing EL-32 towards an IND application, a process that typically requires significant investment.
Another InvestingPro Tip notes that the stock "generally trades with high price volatility," which is evident in its recent performance. The stock has experienced a substantial decline, with a one-year price total return of -97.26%. This volatility underscores the speculative nature of early-stage biotech investments and the market's reaction to the company's developmental progress.
Despite these challenges, Elevai Labs boasts "impressive gross profit margins" of 69.25%, according to InvestingPro data. This suggests that if the company can successfully bring products like EL-32 to market, it has the potential for strong profitability.
Investors considering Elevai Labs should be aware that InvestingPro offers 12 additional tips for this stock, providing a more comprehensive analysis of its financial health and market position. These insights can be valuable for those looking to make informed decisions in the volatile biotech sector.
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