Why Novo Nordisk Stock Is Down (NVO)

Benzinga

Novo Nordisk (NVO) just reported 2 year results from its evoke and evoke+ phase 3 trials in early-stage symptomatic Alzheimer’s disease - and the market did not like what it saw.  The trials, which enrolled 3,808 adults, tested oral semaglutide versus placebo on top of standard of care. Despite improvements in Alzheimer’s-related biomarkers, semaglutide did not show superiority in slowing disease progression on the key CDR-SB cognitive scale.  Based on these results, Novo is discontinuing the planned 1 year extension of both studies. The company notes that semaglutide’s safety profile remained consistent with prior trials and highlights more than 37 million patient-years of exposure across diabetes and obesity populations.  Benzinga  Earlier this morning, NVO shares were trading about 10.7% lower around 42.34 dollars premarket, as investors quickly removed the Alzheimer’s upside from the story.  Benzinga  Topline data will be presented at the CTAD conference on December 3, 2025, with full results coming at the AD/PD 2026 meeting.

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00:00Novo Nordisk stock is falling this morning after the company released top-line results from its

00:05two-year primary analysis of the Evoke and Evoke Plus Phase 3 Alzheimer's trials. The trials were

00:11randomized, double-blinded, and enrolled over 3,800 adults and tested oral semaglutide versus

00:18placebo on top of standard of care. And here's the twist, biomarkers improved, but the disease

00:24did not slow. Novo Nordisk says the trials did not confirm superiority on the key CDR-SB measures

00:32of Alzheimer's progression. The improvement seen in Alzheimer's-related biomarkers didn't translate

00:37into a delay of disease progression. The company also reported that semaglutide was safe and well

00:43tolerated consistent with earlier trials with more than 37 million patient years of semaglutide

00:48exposure across populations. However, because the primary goal wasn't met, Novo Nordisk will

00:54discontinue the planned one-year extension of both trials. As of this morning, in pre-market trading,

01:00Novo Nordisk is down about 10% to below $43. If you want to stay ahead of big market moves,

01:06make sure you have Benzinga Pro.

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