24/7 Market News Snapshot 03 October, 2024 – Elevai Labs, Inc. Common Stock (NASDAQ:ELAB)

October 3, 2024

DENVER, Colo., 03 October, 2024 (247marketnews.com) – (NASDAQ:ELAB) are discussed in this article.
Elevai Labs, Inc. (ELAB) is experiencing significant market attention, evidenced by a substantial increase in its stock price during pre-market trading. The shares have surged to $0.111, representing a remarkable 30.28% rise from the previous close of $0.085. This growing investor enthusiasm is reflected in a trading volume of 27.39 million shares, signaling strong market sentiment and potential for continued upward momentum in response to the firm’s innovative developments.

In addition to this market activity, Elevai Labs has announced the filing of two patent applications for its pioneering lead candidate, EL-22, aimed at combating muscle loss in obese patients. These applications not only cover the use of EL-22 as a standalone therapy but also for combination therapies alongside GLP-1 receptor agonists, thus expanding the treatment options available for obesity management.

The filing is a crucial advancement for Elevai Labs as it seeks to address a key issue in obesity treatment: the preservation of muscle mass during weight loss. EL-22, designed to express myostatin, has shown promise in maintaining muscle while promoting fat reduction. Following a successful Phase 1 clinical trial that verified its safety and tolerability among healthy volunteers, the company is now preparing to evaluate the efficacy of EL-22 in combination with established weight-loss medications.

Deniel Mero, Co-Founder of Elevai Biosciences, emphasized the importance of developing therapies that not only assist in weight loss but also contribute to overall health by preserving vital muscle mass. With a growing intellectual property portfolio that now includes four patent applications and five issued patents, Elevai Labs is reinforcing its commitment to innovating solutions in the obesity treatment landscape. The unique mechanism of EL-22 positions the company to make substantial contributions to the future of obesity care, ultimately enhancing patient health and quality of life.

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