Caliway Biopharmaceuticals C, TW0006919004

Caliway Biopharmaceuticals stock reports phase 2 obesity data

Published on 10/07/2026 at 10:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Caliway Biopharmaceuticals stock faces a phase 3 test after 69.6 percent of treated participants cut subcutaneous fat by at least 150 mL on October 2, 2026. The stock was last at TWD 78.10 on October 7, 2026, while Q2 revenue missed forecast by 99.94 percent.

Caliway Biopharmaceuticals C, TW0006919004, Illustration mit AI erstellt.

Caliway Biopharmaceuticals stock was last at TWD 78.10 on the Taiwan Stock Exchange on October 7, 2026 at 1:30 p.m. TST, down 0.51 percent from TWD 78.50. The company's CBL-514 obesity program has moved into phase 3 after phase 2 data presented at the European Association for the Study of Diabetes meeting.

CBL-514 moves into phase 3

According to Caliway Biopharmaceuticals on October 2, 2026, 69.6 percent of participants receiving CBL-514 achieved at least 150 mL of subcutaneous fat reduction at the eight-week follow-up, compared with 0 percent for placebo. The company said recruitment for the first of two randomized phase 3 trials had started.

The clinical signal also extended to visceral fat. Pharmaphorum reported on October 2, 2026, that visceral fat fell 12 percent with CBL-514 four weeks after the last treatment, while it rose 5.68 percent with placebo. The resulting between-group difference was 17.69 percentage points, giving the phase 3 program a measurable clinical starting point rather than a purely preclinical rationale.

Quarterly numbers remain a risk

For Q2 2026, Investing.com lists revenue of TWD 3.57 million against a TWD 6.01 billion forecast and EPS of negative TWD 0.14 against a TWD 2.91 forecast. The revenue shortfall was 99.94 percent, while the EPS surprise was negative 104.81 percent, making clinical execution more important because commercial revenue remains limited.

The balance sheet adds a separate monitoring point: Caliway held TWD 3.05 billion in cash at June 30, 2026, while Q2 operating cash flow was negative TWD 129.1 million. Those figures frame the phase 3 opportunity against continued research spending and funding requirements.

One analyst sees TWD 240 target

Investing.com lists a Strong Buy consensus based on one analyst, with an average, high and low 12-month price target of TWD 240.00. The target is a published consensus figure rather than a company forecast, so the key test is whether phase 3 can reproduce the early fat-reduction results at larger scale.

Investing.com also lists November 11, 2026 as Caliway's next reporting date. The upcoming checkpoint will place the October clinical update alongside another look at cash use, revenue and the company's ability to finance its development pipeline.

Stock trades near its yearly low

Caliway Biopharmaceuticals stock was last at TWD 78.10 on October 7, 2026, with a 52-week range of TWD 75.10 to TWD 188.00 and volume of 2,098,082 shares. Its market capitalization stood at TWD 121.5 billion on the same date, leaving the shares 4.00 percent above the 52-week low.