NVO Stock Alert: Novo Nordisk Pops on New Weight-Loss Drug


  • Novo Nordisk (NVO) stock is rising on weight-loss drug trial results.
  • This saw patients lose 13.1% of their weight over 12 weeks.
  • That’s better than the firm’s current weight-loss treatment Wegovy.
NVO Stock - NVO Stock Alert: Novo Nordisk Pops on New Weight-Loss Drug

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Novo Nordisk (NYSE:NVO) stock is soaring higher on Thursday after the pharmaceutical company announced results from a weight-loss drug clinical trial.

The big news here is the company’s oral weight-loss drug amycretin producing 13.1% weight loss in patients after 12 weeks. That’s a major improvement over the 6% weight loss produced by the company’s own injectable drug Wegovy.

Following this success, Novo Nordisk has announced plans for a Phase 2 clinical trial of amycretin. The company intends to start this trial later this year and produce results in 2026, Investor’s Business Daily notes.

New Treatment Plans Boost NVO Stock

Even with amycretin beating Wegovy in weight loss, that doesn’t mean the firm is giving up on that drug. Instead, the company is shifting focus to use Wegovy as a treatment for heart disease.

Wolfgang Lickl, Head of Portfolio Management at KB-Vermögensverwaltung, said the following about this move to Reuters:

“Any company that is so heavily exposed to one therapeutic area needs to try to develop other pillars to stand on […] The sheer success in diabetes and obesity will make that difficult, but the cardiovascular field makes sense because of the many synergies.”

NVO stock is up 7.3% as of Thursday morning with more than 1.3 million shares traded. Its daily average trading volume is about 4.7 million shares.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2024/03/nvo-stock-alert-novo-nordisk-pops-on-new-weight-loss-drug/.

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