Why Novo Nordisk Stock Is Moving Higher Today

Shares of Novo Nordisk (NYSE: NVO) are gaining on Monday, up 3.5% as of 2:40 p.m. ET. The jump comes as the S&P 500 and the Nasdaq Composite gained 0.8% and 0.9%, respectively. The Danish drugmaker submitted an application today seeking regulatory approval for a higher dose of its blockbuster weight-loss drug, Wegovy.Just days after a failed Alzheimer's trial sent Novo shares lower, today's regulatory filing revealed the company is seeking the Food and Drug Administration's (FDA) approval for a larger dose of Wegovy. The increased dose -- nearly three times the current maximum dose -- has shown promising results in trials lasting more than a year; participants lost an average of 20.7% of their body weight, compared to 15% in its current form.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool