Eli Lilly & Company released data from the Ocglilen Weight Loss Drug study with positive Phase 3 topline results. The drug is the first oral small molecule GLP-1 receptor agonist and successfully completed the trial. The company plans a global rollout and is confident in diseases such as diabetes. It is estimated that by 2050, about 760 million adults worldwide will have type 2 diabetes.

Usual releases its roadmap. It is expected to end around November 15th, along with the Pills event. 90% of the tokens will be distributed to the community, and TGE is expected to launch in mid-November 2024. Pillsholders will receive 7.5% of the total supply and staking USUAL tokens can unlock governance rights and receive 10% of future USUAL issuance.

Overnight, the concept stocks of weight-loss drugs in the US stock market exploded, after Novo Nordisk announced that a weight-loss drug under its banner is good for the heart. Weight-loss stocks rose sharply, with Eli Lilly closing up 14.9 percent after soaring 18 percent to a record high intraday, extending gains following the release of a strong earnings outlook. Viking Therapeutics, which is developing a similar drug to Novo Nordisk, jumped 12%. WW International closed up 12.6%, after rising as much as 24% during the session. Patients taking Novo Nordisk's diet drug Wegovy were 20% less likely to develop cardiovascular problems than those given a placebo, according to a closely watched study. The result cheered Wall Street bulls. "While these drugs were once just diet pills, they are now much more than diet pills," the Wells Fargo report reads. Analysts at Morgan Stanley predict the global market for anti-obesity drugs will reach $77 billion by 2030, up from a previous estimate of $54 billion.