On Tuesday (November 11), at the close of US stock trading, Novo Nordisk...U.S. stocks rose nearly 7% to $49.15.
　　Earlier today, data from the Phase II clinical trial of Novo Nordisk 's experimental drug coramitug (formerly known as PRX004) were presented at the American Heart Association Scientific Sessions and published in the American Heart Association journal Circulation.
　　PRX004, developed by the biotechnology company Prothena, is a novel monoclonal antibody drug designed to eliminate amyloid protein associated with the pathology of hereditary and wild-type ATTR amyloidosis (hATTR and wtATTR) without affecting the protein's native, normal tetrameric form. In 2021, Novo Nordisk acquired the drug for $1.23 billion.
　　Phase II data presented at the conference showed that a dose of 60 mg/kg coramitug reduced N-terminal pro-B-type natriuretic peptide (NT-proBNP) concentration by 48%. (NT-proBNP is a key indicator for diagnosing ATTR-CM and assessing disease severity and prognosis.)
　　However, the lower dose of 10 mg/kg did not show a similar effect. Neither dose significantly improved the results of the 6-minute walk test (6MWT). (The 6MWT is one of the commonly used methods in clinical practice to assess cardiopulmonary function.)
　　Despite the mixed results, Novo Nordisk remains determined to continue developing coramitug. In August, Novo Nordisk stated in its earnings call that it expects to advance the coramitug project to Phase III clinical trials within the year.
　　"We hope to bring added value by introducing a new mechanism of action for people with ATTR-CM," Novo Nordisk executive Kees Hovingh said in an interview. The company will move coramitug into the later stages of development based on all its research findings.
　　In addition, at the American Association for the Study of Liver Diseases (AASLD) annual meeting the previous day, Novo Nordisk presented data evaluating the efficacy of semaglutide 2.4 mg in patients with metabolic-associated steatohepatitis (MASH) and moderate to severe liver fibrosis.
　　The analysis showed that, compared with placebo, smegglutide reduced the degree of liver damage (steatohepatitis) in adult MASH patients, even with smaller weight loss.
　　In addition, Novo Nordisk officially announced last weekend that it would not increase its offer for Metera—meaning Pfizer...They ultimately beat Novo Nordisk to a bid of $10 billion, but Novo Nordisk's stock price rose after it announced its withdrawal from the bidding.
　　Analysts believe that the dynamics in the financial markets indicate that investors approve of Novo Nordisk's decision. The market interprets this exit as a strategic decision aimed at avoiding paying too high a price in a fiercely competitive bidding process, thereby enabling the company to maintain strong cash flow.
　　This cautious approach is also seen as a reflection of Novo Nordisk's confidence in its long-term growth prospects, while avoiding the risks associated with high acquisition costs.

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