Caliway starts phase 3 trial: Caliway Biopharmaceuticals C stock has TWD 118.1 billion value

Caliway Biopharmaceuticals started its global phase 3 SUPREME-01 trial for CBL-514 after dosing its first participant on September 23, 2026. The company expects the study to enroll 320 participants across the United States and Canada, while its stock had a TWD 118.1 billion market value on October 19, 2026.

Phase 3 moves CBL-514 forward

According to the Caliway Biopharmaceuticals release dated September 23, 2026, SUPREME-01 is a randomized, double-blind, placebo-controlled study evaluating large-area abdominal fat reduction. Its co-primary endpoints require a two-grade improvement on both patient-reported and clinician-reported abdominal fat scales.

The trial is the companys most visible clinical milestone because CBL-514 is being developed as an injectable treatment designed to reduce fat cells directly. The same release said new preclinical combination data had been accepted for presentation at ObesityWeek 2026, extending the program beyond the lead phase 3 indication.

What do the clinical data show?

An October 2, 2026 company presentation summarized phase 2 findings in which 69.60 percent of treated participants achieved at least 150 milliliters of subcutaneous fat reduction at the eight-week follow-up, compared with 0 percent for placebo, according to Caliway Biopharmaceuticals. In a visceral-fat subgroup, average volume fell 12.01 percent after four weeks, while the placebo group rose 5.68 percent.

The clinical promise sits alongside a loss-making financial profile. Quartr reported H1 2026 revenue of TWD 3.568 million, down from TWD 12.212 million a year earlier. The net loss narrowed to TWD 330.270 million from TWD 424.378 million, while operating expenses rose to TWD 511.244 million from TWD 393.249 million.

Three milestones frame the program

The recent chronology is clear: Caliway reported H1 2026 revenue of TWD 3.568 million on August 4, 2026; it dosed the first SUPREME-01 participant on September 23, 2026; and its October 2, 2026 presentation highlighted the 69.60 percent phase 2 response rate. These dates show a shift from early efficacy evidence toward larger confirmatory testing.

When is the next reporting date?

Investing.com lists November 11, 2026 as the next reporting date. That update will give investors a further read on cash use and development spending as SUPREME-01 advances.

Clinical execution meets funding pressure

Caliway was last at TWD 75.90 on October 19, 2026 at 1:30 p.m. CST on the Taiwan Stock Exchange. The companys TWD 118.1 billion market value and TWD 74.80 to TWD 188.00 52-week range frame a biotechnology story in which trial execution remains central to valuation.

Market context: Market report TAIEX.

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