Novo Nordisk down 6% on data for oral weight loss drug monlunabant
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- Novo Nordisk (NVO) is down ~6% in Friday trading after reporting phase 2b data on weight loss candidate monlunabant that seemed to underwhelm investors.
- The 16-week trial examined three dosage strengths of the oral cannabinoid receptor 1 (CB1) inverse agonist, which is given daily.
- Results showed that all doses led to statistically significant reductions in weight compared to placebo. At the 10 mg dose — the lowest one tested — weight loss of 7.1 kg (~15.7 lb) was seen compared to 0.7 kg on placebo. Also, Novo said that the higher doses led to “limited additional weight loss.”
- Gastrointestinal side effects were the most commonly recorded ones, though the vast majority were mild to moderate and dose dependent. Other side effects such as anxiety, irritability, and sleep disturbances, were seen more often with monlunabant than placebo and also dose dependent.
- The side effect profile may have spooked some investors. Also, the weight loss seen with monlunabant is less than what has been reported with Eli Lilly’s (LLY) oral orforglipron. Phase 2 results for that drug, released in June, showed up to 15% weight loss.
- Speaking at the Seeking Alpha Investing Summit in June just before the orforglipron phase 2 results release, Louise Chen, managing director at Cantor Fitzgerald, said that she is excited about the candidate, noting Lilly “is ahead of the competition.”