Novo Nordisk stock sees biggest loss in more than 20 years on CagriSema results [Yahoo! Finance Canada]
Novo Nordisk A/S (NVO)
Last novo nordisk a/s earnings: 2/5 01:31 am
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Source: Yahoo! Finance Canada
Novo Nordisk ( NVO ) reported its newest GLP-1 product, CagriSema, provides an average of 22.7% weight loss, but that wasn't enough to convince investors, sparking a sell-off on the stock. "We are encouraged by the weight loss profile of CagriSema. This was achieved even though only 57% of patients reached the highest CagriSema dose,” said Martin Holst Lange, executive vice president for development at Novo Nordisk, in a statement Friday. The results came from a trial of nondiabetic adults with obesity. A second late-stage trial for diabetics is underway, with results expected in the first half of 2025. Novo traded down more than 20% Friday morning, while competitor Eli Lilly's ( LLY ) stock was up over 6%. The slump in Novo's shares marks the biggest loss since 2002. The results are significantly better than those of Novo's current GLP-1s, Ozempic for diabetes and Wegovy for weight loss, which provide around 15% weight loss. But Novo's management had been bullish on CagriSem
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NVO
Earnings
- 11/7/24 - Beat
NVO
Sec Filings
- 12/20/24 - Form 6-K
- 12/20/24 - Form 6-K
- 12/18/24 - Form 6-K
- NVO's page on the SEC website