A Study to Learn About the Study Medicine (PF-08653944) in People With Obesity or Overweight and Type 2 Diabetes (T2D)

Inclusion criteria

• Provision of signed and dated informed consent form (ICF)
• Male or female adults, aged ≥18 years
• Have a BMI at Screening of ≥27.0 kg/m2
• Have T2DM for at least 6 months before Screening based on participant reported history or documentation of the disease diagnostic criteria
• Have HbA1c value between ≥6.5% (48 mmol/mol) and ≤10.0% (86.0 mmol/mol) at Screening with stable therapy for at least 90 days prior to Screening/Visit 1. T2DM may be treated with:

--Diet and exercise alone or in combination with: Any oral antidiabetic therapy per local labeling EXCEPT DPP-4 inhibitors. Participant may NOT be on GLP-1 agonists or insulin

• Participants must be motivated and willing to:

• Self-inject study medication (or be aided by caregiver if needed),
• Perform finger-stick glucose monitoring as required.
• Have a history of at least 1 self-reported unsuccessful dietary effort to lose body weight.

Exclusion criteria

• Female who is breastfeeding, or who is pregnant
• Unwilling or unable to follow contraceptive requirements
• Diagnosis of Type 1 diabetes, or any other types of diabetes except T2DM.
• Severe hypoglycemia and/or hypoglycemia unawareness within the 6 months prior to Screening
• Poorly controlled hypertension
• Have a prior or planned surgical treatment for obesity (excluding liposuction or abdominoplasty if performed >1 year prior to screening)
• Have taken within 3 months prior to randomization, medications (prescribed or over-the counter) intended to promote weight loss
• Are receiving or have received within 3 months prior to screening chronic (>2 weeks or 14 days) systemic glucocorticoid therapy