Novo Nordisk (NYSE:NVO) shares gained on Tuesday after the company reported promising Phase 3 trial results for its experimental weight-loss drug Cagrilintide, presented at the European Association for the Study of Diabetes congress in Vienna.
The REDEFINE 1 trial showed that once-weekly injections of Cagrilintide led to an average 11.8% reduction in body weight over 68 weeks, compared with 2.3% in the placebo group.
Patients receiving the treatment lost an average of 12.5 kilograms, while placebo participants lost about 2.5 kilograms.
Cagrilintide, a long-acting amylin analogue, works differently from Novo Nordisk’s existing GLP-1-based therapies, such as Wegovy, by mimicking the hormone amylin, which helps increase satiety.
The drug was generally well tolerated, with the most common side effects being mild to moderate gastrointestinal issues such as nausea, vomiting, diarrhea, and constipation.
About 31% of patients achieved at least a 15% weight reduction compared with 5% on placebo.
“These data highlight the exciting potential of cagrilintide to offer an alternative approach for people to lose weight, achieve health-related outcomes and manage their obesity, including a favourable tolerability profile,” said Timothy Garvey, MD, professor of medicine and director of the Diabetes Research Center at the University of Alabama at Birmingham and lead investigator of the study.
Novo Nordisk said it will advance the drug into a dedicated Phase 3 clinical program, called RENEW, later in 2025 to further assess its efficacy and safety in people with obesity or overweight.
“Our current and future therapies aim to help people with obesity achieve meaningful weight loss and broader health benefits,” Novo Nordisk’s chief scientific officer Martin Holst Lange said.
“With the global scale of obesity, further scientific innovation and therapy options are needed to meet every individual’s needs and preferences.”
Shares of Novo Nordisk were up 2% at about $57 on Tuesday morning.