Accepted answer
Answer first: a fixed combination of cagrilintide, a long-acting amylin analogue, with semaglutide — two mechanisms, two receptors, one weekly injection.
Both components act at the area postrema, so the gastrointestinal tolerability profile is not simply the sum of the two and the titration schedule reflects that.
On the detail: the amylin receptor is the calcitonin receptor in complex with a receptor-activity-modifying protein, so the pharmacology is genuinely distinct from anything in the incretin class.
The amylin receptor architecture — calcitonin receptor plus RAMP — is established pharmacology and explains why selectivity was hard.
The caveat is that a fixed combination has a tolerability profile of its own that cannot be inferred by adding the components.
The expectation gap is a story about expectations, not about the pharmacology.