-- Caliway Biopharmaceuticals (TPE:6919) completed a U.S. FDA IND submission for the phase three clinical trial for a fat reduction drug, according to a Monday Taiwan Exchange filing.
Shares rose about 5% in Tuesday's afternoon trade.
The study will evaluate the drug, dubbed CBL-514, for abdominal subcutaneous fat reduction.
The randomized, double-blind, placebo-controlled trial will enroll about 320 participants across the U.S., Canada and Australia.
The company said the application was submitted on Monday and is currently under review, the filing said.