Novo Nordisk (NYSE:NVO) shares moved lower after the Danish drugmaker unveiled the latest trial results for its weight loss drug CagriSema.
The Phase 3 trial, called Redefine 2, showed that CagriSema helped obese or overweight adults with type 2 diabetes reduce their weight by 15.7% after 68 weeks, compared to 3.1% with placebo.
Novo Nordisk, which also produces the popular weight loss drug Wegovy, had previously forecast a weight loss of 25% for patients taking CagriSema.
Novo Nordisk said it expects to file for its first regulatory approval for CagriSema in the first quarter of 2026.
CagriSema is a once-weekly injection composed of two active ingredients, cagrilintide and semaglutide, the active ingredient in Wegovy.
“The REDEFINE 2 results confirmed the superior efficacy of CagriSema in people with overweight or obesity and type 2 diabetes”, Novo Nordisk executive vice president for development Martin Holst Lange said in a statement.
“We look forward to bringing this second pivotal trial to regulatory authorities with the aim of making this next-generation therapy available to the millions of patients in need.”
Shares of Novo Nordisk fell 10% to about $78 in early trade on Monday.