Social Media Pulse Check

Research evidence excerpt

Social Media Pulse Check

RBC Capital Markets, LLC

Trung Huynh (Analyst)

(415) 212-0012,

trung.huynh@rbccm.com

Justin Burns, CFA (Vice

President)

(415) 445-8668,

justin.burns@rbccm.com

May 19, 2026

Social Media Pulse CheckRESEARCH Latest Sentiment for Foundayo, retatrutide and Icotyde

Our View: Social media data reveal a clear divergence in online momentum across the three drugs we

are tracking, with retatrutide standing out as the dominant force in our checks. Retatrutide's online

presence is remarkable for a drug that is not yet FDA approved. On Reddit, r/Retatrutide alone draws

~192K weekly visitors, which is in-line with three different Ozempic/Wegovy related channels (and 32x

r/FoundayoPill and r/FoundayoUS), with consistently high mention volumes ranging from 2,000 to over

5,300 per week since mid-February. Enthusiasm is broad-based, spanning the biohacking, weight-loss,

bodybuilding, and finance communities, and is underpinned by compelling Phase 2/3 data showingEQUITY

greater absolute weight loss versus tirzepatide. The proliferation of gray-market procurement channels

further underscores the intensity of pent-up demand ahead of a future approval (although, we note LLY

sees this as a BMI >35 product). Foundayo has durable social media activity following its launch spike

in late March, though sentiment has been mixed and initial patient feedback is still early. We expect

more real-world data points as patients begin to titrate up. Icotyde's digital footprint remains limited,

with early conversations centered on insurance coverage gaps and formulary access, consistent with a

measured near-term ramp.

We tracked web traffic and social media activity across three obesity/metabolic drugs, Icotyde