In the thirteenth installment of FENIX’s Obesity Spotlight Series, FENIX has conducted a brief analysis of the emerging players in the obesity market. While previous editions of the spotlight series focused on the major players competing in the space, there is no shortage of smaller biotechs that could also shape the landscape in years to come. In this spotlight, FENIX highlights 10 smaller obesity players to watch (as well as honorable mentions), assessing their pipeline progress, competitive positioning, and potential attractiveness as future M&A targets.