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Novo Nordisk announced on Monday that its semaglutide drug failed to slow Alzheimer's disease progression in two Phase 3 trials called EVOKE and EVOKE+, which enrolled 3,808 patients aged 55 to 85 with early-stage symptomatic Alzheimer's disease.

Novo Nordisk announced on Monday that its semaglutide drug failed to slow Alzheimer's disease progression in two Phase 3 trials called EVOKE and EVOKE+, which enrolled 3,808 patients aged 55 to 85 with early-stage symptomatic Alzheimer's disease.

The company's shares dropped significantly following the announcement, falling more than 10% in early trading to their lowest level since July 2021, representing the stock's worst performance in over three years.

The company's shares dropped significantly following the announcement, falling more than 10% in early trading to their lowest level since July 2021, representing the stock's worst performance in over three years.

Novo Nordisk executives had previously described the Alzheimer's trials as a lottery ticket due to their uncertain prospects, with UBS analysts estimating only a 10% probability of success before the results were announced.

Fierce Pharma

Novo Nordisk executives had previously described the Alzheimer's trials as a lottery ticket due to their uncertain prospects, with UBS analysts estimating only a 10% probability of success before the results were announced.

The trials tested Rybelsus, an oral version of semaglutide approved for Type 2 diabetes, using a clinical dementia rating system to measure changes in memory and daily functioning over a two-year period with a goal of 20% cognitive decline reduction.

The trials tested Rybelsus, an oral version of semaglutide approved for Type 2 diabetes, using a clinical dementia rating system to measure changes in memory and daily functioning over a two-year period with a goal of 20% cognitive decline reduction.

While semaglutide treatment showed improvements in Alzheimer's disease-related biomarkers in both trials, these improvements did not translate into delayed disease progression, leading Novo to discontinue the planned one-year extension study.

While semaglutide treatment showed improvements in Alzheimer's disease-related biomarkers in both trials, these improvements did not translate into delayed disease progression, leading Novo to discontinue the planned one-year extension study.

The failed trials represent another setback for CEO Mike Doustdar, who took over in August amid the company's challenges including slowing sales growth, workforce reductions of 11%, and increased competition from Eli Lilly in the obesity drug market.

The failed trials represent another setback for CEO Mike Doustdar, who took over in August amid the company's challenges including slowing sales growth, workforce reductions of 11%, and increased competition from Eli Lilly in the obesity drug market.

Novo Nordisk Shares Plunge 10% as Alzheimer's Drug Fails

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Novo Nordisk Shares Plunge 10% as Alzheimer's Drug Fails

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