Fractyl Health gains on early data from weight management device trial

Shares of drug developer Fractyl Health GUTS.O rise 6.7% to $1.27 premarket

Co says early-stage data shows its weight management device Revita helps maintain weight in patients after they discontinued taking weight-loss drugs

One month post-procedure, seven patients experienced an average weight regain of just 1.2%, compared with the ~3% typically observed at this time period after GLP-1 discontinuation based on prior clinical studies - GUTS

Co expects to announce additional data from the study during Q3 of this year

Shares of the company have fallen 42.2% YTD