Novo Nordisk (NVO) crashed roughly 20% today after the pharma giant said its candidate obesity drug CagriSema failed to demonstrate non-inferiority to rival Eli Lilly’s (LLY) tirzepatide in the late-stage REDEFINE 4 trial. CagriSema achieved 23% weight loss in about 84 weeks compared to tirzepatide’s 25.5%, missing its primary endpoint and representing a notable competitive setback for NVO in the fast-growing obesity treatment market.
Versus its year-to-date high, Novo Nordisk stock is now down nearly 40% with a 14-day relative strength index (RSI) at less than 19, indicating oversold conditions that often precede a relief rally.
