Novo shares drop over 10% pre-market after CagriSema Phase 3 miss

Novo Nordisk shares plunged over 10% pre-market after its CagriSema drug failed to meet the primary endpoint in a phase 3 trial. Despite demonstrating 23% weight loss, the results disappointed investors. The news sent retail sentiment on Stocktwits to "extremely bearish" territory, marking a significant setback for the obesity treatment.