Novo Nordisk Stock Eyes Best Day In 17 Months On New Obesity Drug Trial Data: Retail Breathes Easy
The results also come as a relief following a selloff triggered by disappointing results from Novo’s CagriSema trial, which many deemed overblown.
FollowShares of Novo Nordisk surged over 13% in premarket trading Friday, driven by promising topline results from a early-stage trial of amycretin, a new weight-loss drug candidate.
If gains hold, this could mark the stock’s best single-day performance since Aug. 8, 2023, and its highest levels in five weeks.
The trial tested amycretin as a once-weekly injectable treatment for overweight or obese adults across 125 participants. Results showed substantial weight loss based on dose and duration:
- 1.25 mg for 20 weeks: 9.7% body weight reduction
- 5 mg for 28 weeks: 16.2% body weight reduction
- 20 mg for 36 weeks: 22.0% body weight reduction
By comparison, placebo-treated individuals experienced minimal changes, ranging from a 1.9% gain to a 2.3% gain.
Amycretin demonstrated a safety profile consistent with other incretin-based therapies, with gastrointestinal issues being the most common adverse effects, mostly mild to moderate.
Martin Lange, Novo Nordisk’s EVP for development, stated, “The results seen in the trial support the weight lowering potential of this novel unimolecular GLP-1 and amylin receptor agonist, amycretin, that we have previously seen with the oral formulation.”
The company plans to advance amycretin into further clinical trials for obesity and type 2 diabetes.
Notably, amycretin’s efficacy in its highest dose appears to exceed that of Novo Nordisk’s current blockbusters, Ozempic and Wegovy.
Last week, trial results for higher-dose (7.2 mg) semaglutide (Ozempic/Wegovy) showed a 20.7% body weight reduction over 72 weeks.
Investor sentiment remained ‘bullish’ on Stocktwits as Novo Nordisk became one of the platform’s top five trending stocks.
Traders expect amycretin to solidify the company’s dominance in the weight-loss drug market, even as Eli Lilly accelerates its development of next-generation treatments.
The data also comes as a relief to retail investors following a selloff triggered by disappointing results from Novo’s CagriSema trial, which many deemed overblown.
Amycretin is being developed for both subcutaneous and oral use, mimicking the gut hormone GLP-1 and a hunger-suppressing pancreatic hormone called amylin.
Its potential shines in a hot obesity drug market, especially as Novo Nordisk’s semaglutide-based treatments face Medicare price negotiations under the Inflation Reduction Act.
Earlier this week, Moody’s upgraded Novo Nordisk’s long-term issuer rating to Aa3 from A1, citing robust growth in its diabetes and obesity drug portfolio, particularly Ozempic and Wegovy.
The ratings agency highlighted moderate patent exposure and an increasingly diverse pipeline, maintaining a stable outlook for the next 12–18 months.
Despite this, Novo Nordisk shares have shed over 23% in the past year and are down more than 7% year-to-date.
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