PG-010 is composed of a cyclic peptide that binds to the thrombopoietin receptor (TPOR) and functions as a growth factor substitute peptide, demonstrating agonistic activity towards TPOR. Recombinant TPO and PG-010 activities were compared using ERK phosphorylation and reporter gene activation under JAK2-STAT5 signaling pathway. The results indicated that PG-010 demonstrated activity nearly equivalent to TPO on a molar basis, showing similar activity at 2.6 times less concentrations than recombinant TPO based on mass concentration (ng/mL).