Novo Nordisk stock price takes a tumble after the Wegovy maker’s next-generation weight-loss drug underwhelms

Results for its new CagriSema drug, while promising, fell below expectations, sending shares of the pharmaceutical giant down double digits in premarket trading.

CagriSema, a drug that Novo Nordisk had hoped would become its next generation weight-loss aid, has failed to meet expectations in late-stage trials, sending shares of the pharmaceutical giant tumbling as much as 24% at one point in premarket trading on Friday morning.