Shares of Novo Nordisk (NVO) are up 5% and at a record high after the Danish pharmaceutical company reported positive results from a trial of a new weight loss drug.
The company said that the Phase I trial of its highly anticipated obesity drug called Amycretin showed a 13.1% weight loss in participants after 12 weeks.
The reading for Amycretin was more than double the 6% weight loss recorded after a 12-week trial for the company’s current weight loss drug Wegovy.
A Phase II trial will begin in the second half of this year, with results expected in 2026, said Novo Nordisk.
In the last year, Novo Nordisk has become Europe’s largest publicly traded company by market capitalization as its stock rises due to brisk sales of its Wegovy and Ozempic weight loss drugs.
Also in recent days, Novo Nordisk reported late-stage trial results showing that Ozempic cut the risk of kidney disease and death from kidney and cardiovascular disease by 24% in people with Diabetes.
The results add to mounting evidence of the broader health benefits associated with various weight loss drugs.
Prior to today (March 7), the stock of Novo Nordisk had risen 73% over the last 12 months to trade at $124.75 U.S. per share.
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