I've been following the TRIUMPH program since the Phase 2 readout and honestly, these numbers are consistent with what we already saw. The Phase 2 dose-finding study showed up to 24.2% weight loss at 48 weeks with the 12 mg dose. The fact that Phase 3 is confirming that with a larger cohort is extremely encouraging.
What I want to see is the body composition data. If the glucagon component is genuinely increasing energy expenditure and promoting fat oxidation while the GIP component helps preserve lean mass, that's a fundamentally different metabolic profile than pure GLP-1 agonism.
Also keeping my eye on the TRIUMPH-2 readout for T2D. If the A1C reduction is in the 2.0%+ range alongside this kind of weight loss, it's going to be very difficult for payors to justify restricting access.