Novo Nordisk Stock Falls 8% Despite Positive REDEFINE 2 Trial Results

(RTTNews) - Novo Nordisk A/S (NVO) is trading at $79.39, down 8.93 percent or $7.78 during Monday's trading, following the release of headline results from its REDEFINE 2 phase 3 trial.

The stock opened at $79.81 and has traded between $78.30 and $80.70 today, compared to a previous close of $87.17 on the New York Stock Exchange. Current volume stands at 7.80 million shares, nearing the average volume of 9.01 million. The stock's 52-week range is $77.82 to $148.15.

The 68-week trial, part of the global REDEFINE program, evaluated the efficacy and safety of CagriSema a fixed-dose combination of cagrilintide and semaglutide against a placebo in 1,206 participants with obesity or overweight and type 2 diabetes, with a mean baseline body weight of 102 kg.