Earlier this morning, Saniona provided an update of the phase IIa study with Tesomet in Prader-Willi Syndrome (PWS). Although the second part could not replicate efficacy shown in the first part of the phase IIa study, it was expected by us since the dose was lowered to a quarter from the first part (from 0.5 mg to 0.125 mg). We believe it was a rather smart move since Saniona has now narrowed down a dose-range for future studies in this patient group. At the same time, the data once again confirms that PWS patients metabolize tesofensine at a slower half-life compared to previous clinical trials with tesofensine in obese patients.