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GLP-1 agonists have the potential to become some of the best selling drugs of all time Targeting very large and rapidly growing markets Potential differentiation in dual-acting mechanism, biased signaling, and oral delivery GLP-1/GIP dual agonists have demonstrated greater weight loss than GLP-1 mono-agonists Positive early clinical data Weight loss observed in early clinical trials of CT-388 appears to be lower than that of approved GLP-1 and GLP-1/GIP agonists Will need to demonstrate some level of clinical differentiation, or comparable clinical activity and lower cost, to garner significant revenue Late-stage trials in Type 2 Diabetes and obesity are very expensive Drugs will need to generate billions in annual sales to justify price paid Carmot Therapeutics was acquired by Roche for $2.7 billion in December 2023