07:53 AM EDT, 07/11/2024 (MT Newswires) -- Pfizer ( PFE ) said Thursday it will conduct dose optimization studies of danuglipron in the second half of the year after selecting a once-daily, modified-release formulation of the drug candidate, intended to maintain healthy blood sugar levels and address obesity.

According to the company, the decision was based on results from an ongoing pharmacokinetic study evaluating immediate- and modified-release formulations of danuglipron administered orally in healthy adults of at least 18 years old. Pfizer ( PFE ) said the study's results demonstrated "encouraging" data that support once-daily dosing, and the planned dose optimization studies are expected to inform the registration-enabling studies.

Shares of Pfizer ( PFE ) were up over 2% premarket.

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