April 21, 2026 · Phase 3 readout
NVO Phase 3 readout: a negative outcome, -16.4%
-16.4%Novo Nordisk A/S (NVO) →
On April 21, 2026, Cagrilintide — Novo Nordisk A/S (Obesity or Overweight) reached its Phase 3 readout. The result was a negative outcome, and the stock moved -16.4% in the window around the event. It had already run -23.8% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.
The move
$47.42
1d before
$39.63
Event day
$38.59
1d after
$37.45
5d after
Pre-catalyst setup
-23.8%
30-day run-up
7684%
30-day volatility
0.5×
volume spike