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 it’s giving up on that drug. Instead, the company is shifting focus to use Wegovy as a treatment for heart disease.
Wolfgang Lickl, portfolio manager 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.
There are more hot stock market stories traders are going to want to read about below!
We’re offering insight into all of the biggest stock market stories on Thursday! Our coverage includes what’s happening with shares of Avid Bioservices (NASDAQ:CDMO), Victoria’s Secret (NYSE:VSCO) and Brera (NASDAQ:BREA) stock today. You can find out more on these matters at the following links!
More Thursday Stock Market News
On the date of publication, William White did not have (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.
