Novo Nordisk (NVO) stock tumbled Monday after its experimental weight-loss drug, CagriSema, failed to top its rival from Eli Lilly (LLY) in a Phase 3 study.
↑ X NOW PLAYING The Weight-Loss Drug Market Is Hot. Which Medical Stock Will Win The Battle For Supremacy?After 68 weeks, patients lost 15.7% of their body weight compared to a 3.1% loss for placebo recipients. That's comparable to Eli Lilly's blockbuster, Zepbound, Leerink Partners analyst David Risinger said in a report to clients. He noted that CagriSema is also more difficult than Zepbound to manufacture due to the type of device it uses, and Novo has yet to lay out its manufacturing plans.
William Blair analyst Andy Hsieh said CagriSema stood the best chance of outperforming Zepbound in this patient population — people with obesity and type 2 diabetes. But the results appears comparable to Zepbound.
"Therefore, we believe today's results are especially disappointing," he said in a client note.
In premarket trades, Novo Nordisk stock skidded more than 8% to 79.46. That puts shares on deck to undercut their 50-day moving average once the market opens.
More to follow.
Follow Allison Gatlin on X/Twitter at @AGatlin_IBD.
YOU MAY ALSO LIKE:
AbbVie Enters The Obesity Arena. Why It's Paying Up To $2.23 Billion.
Senators Grill FDA Nominee Marty Makary Over Abortion Pills, Vaccines
Find Today's Best Growth Stocks To Watch With IBD 50
Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists
MarketSurge: Research, Charts, Data And Coaching All In One Place
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。