Novo Nordisk A/S (NVO - Free Report) announced headline results from two studies — a once-weekly subcutaneous amylin analogue or AM833 (as monotherapy) and a combination study of AM833 and once-weekly subcutaneous semaglutide 2.4 mg.
AM833 is an acylated long-acting analogue of the human amylin hormone that induces weight loss by reducing energy intake.
In the phase II monotherapy study,safety, tolerability and efficacy of AM833 wereinvestigated for weight management in 706 people with obesity or overweight with at least one weight-related comorbidity. The study reached its primary endpoint by demonstrating a weight loss of 10.8% at week 26 with AM833 at the 4.5 mg dose compared to a weight loss of 3.0 % with placebo.
The 20-week multiple ascending dose phase I study evaluated the weight loss potential of AM833 administrated in combination with semaglutide 2.4 mg in 80 people with obesity or overweight. Once-weekly subcutaneous semaglutide 2.4 mg is being investigated by Novo Nordisk as a treatment for adults with obesity.
After 20 weeks of treatment, participants receiving the highest dose lost 17.1% of body weight, on average, from a mean baseline body weight of 95.1 kg. The primary endpoint was the number of treatment-emergent adverse events and AM833 was well-tolerated, with the most common adverse events being gastrointestinal disorders, including nausea and vomiting, the majority being non-serious and mild or moderate in severity.
Shares of the company have gained 16.7% year to date against the industry’s decline of 1.8%.
Novo Nordisk has a strong presence in the diabetes care market with one of the broadest diabetes portfolios in the industry. However, the diabetes market is extremely crowded with players like Sanofi (SNY - Free Report) , AstraZeneca (AZN - Free Report) and Merck (MRK - Free Report) .
Novo Nordisk currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020? Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>