U.S. stock movement | Novo Nordisk rises over 2% as results from Phase III trial of new generation weight loss drug Cagrilintide are positive
Novo Nordisk's stock price rose more than 2% on Tuesday, closing at $57.12. The company's new weight loss drug Cagrilintide performed well in phase three clinical trials, with patients losing an average of 11.8% of their weight after 68 weeks, compared to just 2.3% in the placebo group. Cagrilintide is a long-acting glucagon-like peptide that effectively increases satiety. Novo Nordisk's Chief Scientific Officer expressed excitement about the trial results and looks forward to further validating its potential
According to the Zhitong Finance APP, on Tuesday, Novo Nordisk (NVO.US) rose over 2%, closing at $57.12. In news, on September 16, Novo Nordisk announced that its new weight loss drug Cagrilintide showed good results in a late-stage clinical trial. Novo Nordisk stated that an early analysis of a Phase 3 trial showed that weekly injections of Cagrilintide alone helped patients lose an average of 11.8% of their weight after 68 weeks, compared to only 2.3% in the placebo group.
Cagrilintide is a new weight loss therapy that differs from existing GLP-1 drugs (such as Novo Nordisk's semaglutide and Eli Lilly's tirzepatide); it is a long-acting insulin analog that increases satiety by mimicking hormones co-secreted with insulin in the pancreas.
Martin Holst Lange, Chief Scientific Officer and Executive Vice President of Research and Development at Novo Nordisk, stated in a statement: "In our clinical trials, Cagrilintide achieved significant weight loss, with a mechanism different from approved obesity medications, and it has good tolerability."
Lange added: "We are excited about these data, as this is the first Phase 3 clinical data for next-generation insulin therapies, and the results show promise. We look forward to further validating the potential of Cagrilintide in the dedicated Phase 3 RENEW program."
