US Stock Market Move | The weight loss drug Cagrisema's clinical trial results did not meet expectations. Novo Nordisk A/S Sponsored ADR Class B (NVO.US) dropped more than 5%.

On Wednesday, Novo Nordisk A/S Sponsored ADR Class B (NVO.US) fell more than 5%, marking the fourth consecutive day of decline, now trading at $74.16. According to recent trial results, patients using the highest dose of CagriSema experienced a weight loss of 15.7%, compared to a 3.1% weight loss in patients taking a placebo. Although the company stated that the results "confirmed the excellent efficacy of CagriSema", it fell short of the market's expected weight loss target of 25%. Additionally, the results of the Redefine 1 trial for Novo Nordisk A/S Sponsored ADR Class B were also below expectations.