NVO Stock Down as Rybelsus Misses Goals in 2 Alzheimer's Studies

Core Insights - Novo Nordisk (NVO) reported disappointing results from late-stage studies of Rybelsus for early-stage symptomatic Alzheimer's disease, leading to a 5.6% drop in shares [1] Group 1: Study Results - The phase III evoke and evoke+ studies involved 3,808 adults with mild cognitive impairment or mild dementia due to Alzheimer's, randomized to receive either Rybelsus or placebo for 156 weeks [2] - Rybelsus did not show clinical superiority over placebo in slowing Alzheimer's progression, despite improving AD-related biomarkers [4][7] - The company will discontinue the 52-week extension phase of the studies and plans to present top-line data in December, with full results expected in 2026 [9] Group 2: Market Performance - Year-to-date, Novo Nordisk shares have decreased by 47.7%, contrasting with a 16% growth in the industry [6] Group 3: Product Information - Rybelsus is currently approved for type II diabetes management and has expanded indications for cardiovascular risk reduction [3] - Novo Nordisk is seeking approval for a 25 mg oral formulation of semaglutide for obesity and cardiovascular disease, which could be the first oral GLP-1 therapy for chronic weight management [12] - The company is also pursuing label expansions for Ozempic to treat peripheral artery disease in the U.S. and EU [12][13]