Jonathan Ra | norphoto | Getty Images
Shares of Novo Nordisk rose 5% Thursday morning, according to LSEG data, hitting new highs after the Danish pharmaceutical giant reported positive early trial data for an experimental new weight-loss drug.
The company told an investor meeting that a phase 1 trial of the prospective obesity drug amicretin showed 13.1% weight loss in participants after 12 weeks, according to Reuters. This reading beats the 6% loss recorded after a 12-week trial of the company's hugely popular obesity drug Wegovy.
The company said that the second phase trial will begin in the second half of this year, and results are expected in early 2026.
Shares of Novo Nordisk, Europe's largest company by market capitalization, have risen more than 27% since the turn of the year as the pharmaceutical giant continues to reap the benefits of growing demand for its leading anti-obesity drugs Wegovy and Ozempic.
Earlier this week, Novo announced late-stage trial results that showed Ozempic reduces the risk of progression of kidney disease and death from kidney or cardiovascular complications by 24% in diabetic patients with chronic kidney disease.
The findings add to growing evidence of broader health benefits associated with Ozempic and similar medications, beyond weight loss and treatment of type 2 diabetes.
Shares of its American competitor Eli Lilly It fell 1.3% in after-hours trading on the news.
