[Special Stock] Olipass, Obesity Treatment Burning Fat in Muscles on Track... "Effect of Maintaining Healthy Body Shape"

RNA therapeutic platform company Olipass is rebounding. Expectations for its new pipeline, the obesity treatment program ‘ACC2 selective inhibitor,’ appear to be influencing the stock price. This obesity treatment burns fat in muscles, producing effects similar to muscles exercising. It is also interpreted that low-price buying has been inflowing following the recent sharp decline in stock price.

As of 11:40 AM on the 23rd, Olipass is trading at 878 KRW, up 16.45% from the previous day.

Olipass initially developed the ACC2 selective inhibitor as an injectable drug but is now developing it as a transdermal patch to improve drug delivery efficiency to muscles. Additionally, since it does not burn fat in the liver, Olipass expects it can be repurposed as a non-alcoholic steatohepatitis (NASH) treatment without liver toxicity.

Unlike recently spotlighted appetite suppressant-type obesity treatments targeting severely obese patients, Olipass’s obesity treatment is differentiated by targeting a broader group of overweight individuals to help maintain a healthy body shape.

This year, Olipass expects to generate over 5 billion KRW in research and development revenue from joint research partners. They hope that additional new drug development platform joint research contracts and technology exports for ALS treatments will translate research achievements into financial results.

On the same day, Olipass expressed apologies to shareholders for causing concern due to excessive damage to the company’s market value related to the Phase 2a clinical trial results of the gene therapy-based non-opioid analgesic ‘OLP-1002.’ Olipass CEO Jeongshin added that based on all research and clinical experience, they have very strong confidence in the potent analgesic efficacy and safety of OLP-1002.

Olipass plans to investigate the circumstances surrounding the Phase 2a clinical trial results of OLP-1002 and take necessary measures. Primarily, they intend to promote joint development of OLP-1002 through close consultations with multinational pharmaceutical companies currently in discussion. However, internal R&D activities to extend the patent exclusivity period of OLP-1002 will continue.

Olipass possesses platform-based RNA therapeutic new drug development technology. Besides OLP-1002, it is developing multiple pipelines and achieving research and financial results. The joint research and development using Olipass’s new drug development platform technology with the U.S. pharmaceutical company Vanda, signed in the second half of 2022, is progressing smoothly, and business development for the ALS (Lou Gehrig’s disease) treatment program is advancing rapidly.