Mar 8, 2024 - Economy

Charted: Ozempic-maker Novo Nordisk surges on new obesity drug trial results

Data: YCharts; Chart: Axios Visuals
Data: YCharts; Chart: Axios Visuals

Novo Nordisk shares, already soaring on the popularity of Ozempic and Wegovy, notched a record high Thursday after reporting positive early results for another weight-loss drug candidate.

The big picture: The drug giant's stock has increased more than 88% in price over the past year, and closed trading Thursday as the 12th largest company in the world by market value, surpassing Tesla.

Between the lines: Novo executives told investors Thursday that patients exhibited 13.1% weight loss after 12 weeks of taking its new treatment, amycretin, in Phase 1 clinical trials.

  • "Amycretin appeared to have a safe and well-tolerated profile," the company said.
  • Those results compare favorably to Wegovy, the company's existing blockbuster obesity drug, Reuters reports.

What's next: Amycretin is expected to enter a Phase 2 trial in the second half of this year, per the WSJ.

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