US Stock Market Move | Novo Nordisk A/S Sponsored ADR Class B (NVO.US) rebounds over 4% after dropping 17% the previous trading day.

On Monday, Novo Nordisk A/S Sponsored ADR Class B (NVO.US) rebounded by over 4%, after a massive 17% drop in the previous trading day, now trading at $88.44. In terms of news, Novo Nordisk A/S Sponsored ADR Class B announced last Friday that their new experimental weight-loss drug, CagriSema, helped overweight patients lose 22.7% of their body weight in a late-stage trial, which was below the expected 25%. The weight-loss effect of the candidate drug was lower than expected, causing a setback for the Danish pharmaceutical company, which hoped to launch a more effective drug than Eli Lilly's Zepbound to replace its popular Wegovy product.