Investing.com -- Novo Nordisk’s stock has dropped around 6.6% in premarket trading Monday following the release of its latest clinical trial data for CagriSema, a treatment for adults with obesity or overweight and type 2 diabetes. 

The data, presented from the REDEFINE 2 trial, showed that participants on CagriSema experienced a 15.7% weight loss after 68 weeks.

The trial included 1,206 randomised people with obesity or overweight and type 2 diabetes and a mean baseline body weight of 102 kg.

The company said the trial achieved its primary endpoint by demonstrating a statistically significant and superior weight loss at week 68 with CagriSema versus placebo.

They added that “when applying the treatment policy estimand2, people treated with CagriSema achieved a superior weight loss of 13.7% compared to 3.4% with placebo.”

However, the results have not been enough to reassure investors, as the trial allowed patients to self-select their dose of the drug, and fewer than two-thirds of participants were on the highest dose by the trial’s conclusion. 

The premarket decline in Novo Nordisk’s stock is the most significant since December 20. 

Eli Lilly (NYSE:LLY), a major competitor in the obesity drug market, has seen a 1.3% decline in premarket trading.

Reacting to the release, Jefferies analysts said: “REDEFINE 2 headlines for CagriSema in obese diabetics likely further dent belief in its commercial profile, in our view.”

“Weight loss of 13.7% falls short of our 15+% bar that would have suggested amylin offers a differentiated profile vs  GLP-1 in this population, with result in-line with  GLP-1s  that show 30%-35% less weight loss in diabetics, plus again appearing similar to Zepbound,” added the firm.

Related Articles

Novo Nordisk plunges following latest CagriSema data

Rosenblatt initiates SMCI at Buy, says AI revenues accelerating

Citi ups XPeng to Buy on strong volume growth, AI/robotics drivers