Caliway Biopharmaceuticals C, TW0006919004

Caliway starts CBL-514 phase 3. Caliway Biopharmaceuticals stock is valued at TWD 117.2 billion.

Published on 10/15/2026 at 09:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CBL-514 cut abdominal fat in 69.60 percent of phase 2 cases. Caliway Biopharmaceuticals stock was valued at TWD 117.2 billion on October 15, 2026.

Clinical results and valuation

CBL-514 reduced subcutaneous fat in 69.60 percent of treated participants on October 2, 2026.
The later analysis found a 17.69 percent difference in visceral fat change versus placebo.
Caliway Biopharmaceuticals had a TWD 117.2 billion market capitalization on October 15, 2026.

Caliway Biopharmaceuticals C, TW0006919004, Illustration mit AI erstellt.

Caliway Biopharmaceuticals is moving CBL-514 into phase 3 after 69.60 percent of treated participants achieved at least 150 mL of subcutaneous fat reduction in phase 2 data presented on October 2, 2026. The company page linked the results to the EASD annual meeting and said recruitment for the first of two phase 3 trials had started through Caliway Biopharmaceuticals.

Clinical data sharpen the strategy

The result separates Caliway's approach from appetite-focused obesity medicines because CBL-514 is designed to destroy selected fat cells rather than reduce food intake. The phase 2 result compared with 0 percent for placebo, giving the company a measurable efficacy signal before larger trials begin.

Independent coverage from pharmaphorum reported that visceral fat fell 12.00 percent in the CBL-514 group four weeks after treatment, while it rose 5.68 percent with placebo. The resulting between-group difference was 17.69 percent, although the evidence remains from phase 2 research.

What does the trial mean for risk?

The next test is scale and durability. Caliway's official account says the randomized placebo-controlled phase 3 studies will evaluate safety and efficacy for nonsurgical abdominal fat reduction, with initial results expected at the end of 2027. The company also states that injection-site reactions were mostly mild to moderate and transient, with no serious adverse events reported in the analyzed group.

Three milestones define the program

On August 4, 2026, Caliway reported second-quarter revenue of TWD 3.57 million and a net loss of TWD 222.52 million, according to Investing.com. On September 21, 2026, Caliway announced that its CBL-0202DD phase 2 study reached its primary endpoint, as reported by MarketScreener. The October 2, 2026 EASD data then supplied the 69.60 percent subcutaneous-fat result and confirmed the move toward phase 3.

Next reporting date is November 11

Investing.com lists November 11, 2026 as Caliway's next reporting date. That release should give investors a fresh view of spending and development progress as the phase 3 program expands.

Valuation reflects development risk

Caliway's Taiwan-listed stock was last at TWD 75.30 on October 15, 2026 at 1:30 p.m. TST, while the 52-week range was TWD 75.10 to TWD 188.00. The market capitalization was TWD 117.2 billion on the same date. The company is listed on the Taiwan Stock Exchange under ticker 6919, and its clinical progress now has to translate into larger, reproducible trials.