Derivation Web

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# Alpha memo: EX-MET Study: Endpoint-Specific Metformin and Exercise Findings

Hypothesis-level alpha signal; not clinical advice.

**Alpha hypothesis:** Within the EX-MET study program, direct human randomized trial analyses support a bounded negative signal across risk; treat it as hypothesis-level until the same population and endpoint are replicated.

**Core signal:**
The direct human companio…