US Stock Market Move | Novo Nordisk A/S Sponsored ADR Class B (NVO.US) rises more than 2% on positive Phase III trial results of new generation weight-loss drug Cagrilintide.

On Tuesday, Novo Nordisk A/S Sponsored ADR Class B (NVO.US) rose more than 2% to $57.12. On the news front, on September 16, Novo Nordisk A/S Sponsored ADR Class B announced that its new weight loss drug, Cagrilintide, showed promising results in a late-stage clinical trial. The early analysis of a phase 3 trial showed that weekly injections of Cagrilintide helped patients lose an average of 11.8% of their weight after 68 weeks, compared to only 2.3% in the placebo group. Cagrilintide is a new weight loss therapy that differs from existing GLP-1 drugs (such as Novo Nordisk A/S Sponsored ADR Class B's semaglutide and Eli Lilly's tirzepatide). It is a long-acting insulin analogue that increases satiety by mimicking hormones co-secreted with insulin in the pancreas. Martin Holst Lange, Chief Scientific Officer and Executive Vice President of Research and Development at Novo Nordisk A/S Sponsored ADR Class B, stated in a release, "In our clinical trials, Cagrilintide achieved significant weight loss, with a mechanism distinct from approved obesity drugs and good tolerability." Lange added, "We are excited about this data, which represents the first phase 3 clinical data for the next-generation insulin therapy, showing promising outcomes. We look forward to further validating the potential of Cagrilintide in dedicated phase 3 RENEW trials."