Shares of Novo Nordisk (CSE:NOVOb) continued their upward momentum on Tuesday, rising over 5%, following gains on Monday.
This rebound came after the company suffered a steep loss in market value late last week, shedding nearly $125 billion around 21%on Friday.
The plunge was triggered by disappointing results from the REDEFINE-1 phase 3 trial of its experimental obesity drug, CagriSema.
The trial evaluated CagriSema, a combination of cagrilintide (an amylin agonist) and semaglutide (a GLP-1 receptor agonist), for its efficacy in promoting weight loss.
While the treatment led to a total weight reduction of 22.7% after 68 weeks, the placebo-adjusted result stood at 20.3%.
Although this was an improvement over the individual component’s cagrilintide achieving 11.8% and semaglutide reaching 16.1%the results fell short of expectations.
Novo Nordisk had modeled a 25% weight loss, raising concerns about the drug’s prospects as a potential top-tier obesity treatment.
The trial also pointed to challenges with dose escalation, as only 57% of participants had reached the highest dose by the study’s conclusion.
Adverse events, primarily mild to moderate gastrointestinal issues, were noted but did not appear severe enough to derail its safety profile.
Shares of Novo Nordisk (CSE:Following Monday’s gains, NOVOb) continued their upward momentum, rising over 5%.
The rebound came after the company suffered a sharp reversal last week in market value, losing more than $125 billion, nearly 21 percent, on Friday.
Disappointing results from its experimental obesity drug CagriSema in the REDEFINE-1 phase 3 trial plunged the company.
Cagrilintide (an amylin agonist) and semaglutide (a GLP-1 receptor agonist), in combination, were evaluated in the trial for their efficacy to promote weight loss.
After 68 weeks, the treatment resulted in a total weight reduction of 22.7% compared with 20.3% with placebo adjustment.
The results weren’t what was hoped for, as they were an improvement over the individual component’s cagrilintide at 11.8% and semaglutide at 16.1%, but fell short of expectations.
The drug raised concerns that Novo Nordisk’s prospects for a top tier obesity treatment would be tied to a 25 percent weight loss.
The trial also revealed difficulties with dose escalation, which left only 57 percent of participants at the highest dose by study’s end.
This had no effect on the safety profile other than adverse events, mainly mild to moderate gastrointestinal, which did not appear severe enough to derail it.