Shares of Danish healthcare company Novo Nordisk fell as much as 10% following the announcement of a failed late-stage heart drug trial.
The Phase 3 study for the investigational anti-inflammatory drug ziltivekimab enrolled over 6,300 people with heart disease, kidney disease, and inflammation. While the drug lowered markers of inflammation during the study, it did not achieve a statistically meaningful reduction in Major Adverse Cardiovascular Events (MACE) compared to a placebo. MACE is defined as cardiovascular death, non-fatal heart attack, or non-fatal stroke.
Novo Nordisk shares listed in Copenhagen
In premarket trading, the company's American depositary receipts were 9.8% lower. Shares listed in Copenhagen were down 8.6%.
Novo Nordisk chief scientific officer Martin Holst Lange stated that the trial results do not change the company's strategic commitment to cardiovascular disease.
