Phase 2 Clinical Study of MWN105 Injection in Participants With Overweight or Obesity

This is a Phase 2, multicenter, randomized, double-blind, placebo-controlled study to evaluate the pharmacokinetic characteristics, efficacy, and safety of MWN105 Injection in non-diabetic participants with overweight or obesity. Approximately 120 participants will be randomized to receive different dose levels of MWN105 Injection or matching placebo, administered subcutaneously once weekly for a total treatment duration of 24 weeks, with dose titration from 15 mg to the target dose. The primary endpoint is the percent change from baseline in body weight at Week 24. Secondary endpoints include changes in body weight and metabolic parameters, bone mineral density, pharmacokinetic parameters, immunogenicity, and safety.

Inclusion Criteria: 1. Male or female participants aged 18 to 65 years (inclusive) at the time of signing the informed consent form (ICF). 2. Body weight ≥ 70 kg (male) or ≥ 60 kg (female), with body mass index (BMI) ≥ 30 kg/m² (obesity), or 27 kg/m² ≤ BMI \< 30 kg/m² (overweight) accompanied by at least one weight-related comorbidity (e.g., hypertension, dyslipidemia, prediabetes, obstructive sleep apnea syndrome, metabolic dysfunction-associated steatotic liver disease, weight-bearing joint pain, cardiovascular disease, or polycystic ovary syndrome). 3. Self-reported or documented diet and exercise control of body weight for 12 weeks or more, with body weight change of less than 5.0% within 12 weeks prior to screening. Exclusion Criteria: 1. Known hypersensitivity to GLP-1 receptor agonists, any component of the investigational product, or history of severe allergic disease or severe drug allergy. 2. Use of medications that may affect glucose metabolism or body weight before screening, including antidiabetic drugs, systemic glucocorticoids, psychotropic drugs associated with weight change, prescription weight-loss drugs within 12 weeks, or over-the-counter weight-loss drugs/appetite suppressants within 4 weeks. 3. Clinically significant laboratory abnormalities at screening or before randomization, including: 1. ALT or AST ≥3 × ULN, or TBIL ≥1.5 × ULN. 2. eGFR \