PMGC Holdings Stock Drops 7%

(RTTNews) - Shares of PMGC Holdings Inc. (ELAB) are dropping about 7 percent during Monday's trading, following an announcement made by its subsidiary Northstrive Biosciences Inc. regarding the EL-22 as a combination treatment with GLP-1 for muscle preservation.

The subsidiary stated that it has scheduled a Type-B pre-Investigational New Drug meeting with the U.S. Food and Drug Administration on April 23, 2025.

Currently, PMGC's stock is trading at 7.52 percent, down $4.65 on the Nasdaq. It has traded between $4.39 to $1,161.72 in the past one year.

Upon FDA feedback and guidance, Northstrive aims to file the IND application in 2025 and thereafter initiate clinical trials to evaluate the combination of EL-22 with GLP-1 receptor agonists for obesity treatment.