- Novo Nordisk stock jumped to a record high after it updated investors on positive results from a trial of a new weight loss drug
- The Danish pharmaceutical company reported that the Phase I trial of its experimental obesity drug, Amycretin, showed a 13.1 pr cent weight loss in participants after 12 weeks
- The maker of Ozempic and Wegovy is working in a new class called GLP-1 (glucagon-like peptide) drugs, which mimic the effect of the GLP-1 gut hormone that helps control blood-sugar levels and reduce appetite
- Novo Nordisk stock opened trading at US$124.75 per share
Novo Nordisk (NYSE:NVO) stock jumped to a record high after it updated investors on positive results from a trial of a new weight loss drug.
The Danish pharmaceutical company reported that the Phase I trial of its experimental obesity drug, Amycretin, showed a 13.1 per cent weight loss in participants after 12 weeks.
The maker of Ozempic and Wegovy is working in a new class called GLP-1 (glucagon-like peptide) drugs, which mimic the effect of the GLP-1 gut hormone that helps control blood-sugar levels and reduce appetite.
Media reports that Novo Nordisk intends to begin a Phase 2 trial in the second half of the year, with results due in early 2026.
Novo Nordisk is a global healthcare company engaged in diabetes care and is Europe’s largest company by market capitalization. The company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The company operates through two business segments: diabetes and obesity care and biopharmaceuticals.
Novo Nordisk stock opened trading at US$124.75 per share and its shares are 73.36 per cent higher than this time last year.
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