LABU241227P95000
- 1.15
- +0.65+130.00%
Direxion Daily S&P Biotech Bull 3x Shares ETF Newsroom
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Why Is Novo Nordisk Crashing After Data for Next-gen Weight Loss Drug?
Amgen Shares Are Trading Higher. Weight-loss Related Stocks Are up on Friday Following Weaker-than-expected Data From Competitor Lilly.
The weight loss effect of the new drug was below expectations, and Novo-Nordisk A/S saw its stock plummet by 28% in Pre-Market Trading, while competitor Eli Lilly and Co surged over 12%.
The experimental results show that patients who received subcutaneous injections of CagriSema lost an average of 22.7% of their weight after 68 weeks. If volunteers who dropped out of the trial are included, the average weight loss effect decreases to 20.4%, both below the company's previous expectation of 25%.