Novo Nordisk's CagriSema achieved significant weight loss in phase 3 trials, though safety concerns may limit its edge over existing and pipeline rivals.

Novo Nordisk unveiled its latest data for a weight-loss drug candidate, but shares of the maker of Wegovy and Ozempic tumbled as the results missed investors’ expectations and reignited concerns about Novo’s rivalry with Eli Lilly.

Separately, Novo Nordisk presented early data for its oral amycretin program. In Phase I and Ib/IIa trials, amycretin achieved 23% placebo-adjusted weight loss at 36 weeks for the 20mg dose, J.P. Morgan added.