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
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。