A Single-Ascending and Repeated Dose Study of LY3849891 in Participants With Metabolic Dysfunction-Associated Steatotic Liver Disease (MASLD)

Inclusion Criteria:

• Participants must have a body mass index (BMI) within the range greater than orequal to (≥) 25 and less than (<) 50 kilogram per square meter (kg/m²) inclusive

• Participants must have liver fat content ≥10% in Part A and ≥8% for Part B asdetermined by MRI-PDFF

• Participants must be carriers of the PNPLA3 I148M allele

• Participants with or without type 2 diabetes mellitus (T2DM) o For participants with T2DM, hemoglobin A1c (HbA1c) <8% in Part A and <9% in Part B

• Male participants agree to use an effective method of contraception for the durationof the study and for 90 days after the last dose of study intervention

• Women not of childbearing potential may participate and include those who are:infertile due to surgical sterilization (hysterectomy, bilateral oophorectomy, ortubal ligation), congenital anomaly such as Mullerian agenesis; or those who arepostmenopausal

Exclusion Criteria:

• Participants must not have known or suspected alcohol abuse (>14 units/week forwomen and >21 units/week for men) or active substance abuse

• Participants must not have evidence of cirrhosis or other forms of liver disease

• Participants must not have heart attack, stroke, or hospitalization for congestiveheart failure in the past 3 months

• Participants must not have active cancer within the last 5 years

• Participants must not have uncontrolled high blood pressure

• Participants must not have renal impairment with estimated glomerular filtrationrate (eGFR) <60 milliliter per minute per 1.73 square meter (ml/min/1.73m²)

• Participants must not have a diagnosis of type 1 diabetes

• Participants must not have a contraindication to MRI examinations, such as personswith cardiac pacemaker and implants made out of metal (for example, cochlearimplant, nerve stimulators, magnetic vascular clips, and metallic heart valve) orother contraindications for MRI