Novo Nordisk amycretin data helps rebut concerns, says BofA

After Novo Nordisk (NVO) reported that subcutaneous amycretin demonstrated up to 22% absolute weight loss at 36-weeks in a Phase 1/2a trial, BofA thinks this “looks potentially best in class.” The firm believes the “solid” data points to a profile similar to CagriSema and able to deliver the 25% weight loss benchmark investors have expected. The firm, which also sees progression to Phase 3 as likely with launch in a FY28 timeframe helping to rebut concerns that have emerged, has a Buy rating and DKK 1,075 price target on Novo Nordisk shares.