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Roche (OTCQX: RHHBY) shares fell 5% on Wednesday while shares of rivals Novo Nordisk (NVO) and Eli Lilly (NYSE:LLY) gained ground after Reuters reported that positive data from Roche (OTCQX:RHHBY) in July The obesity drug candidate CT-996 was based on just six study participants.
In July, Roche said a phase 1 study showed that obese, non-diabetic patients who took CT-996 achieved a 6.1% weight loss over four weeks after adjusting for placebo. Slides for the study, released Wednesday, showed the data was based on six of the 25 patients enrolled in the trial. According to Reuters.
The 25 participants were divided into subgroups, with six given a placebo, Reuters reported. The second best-performing group, consisting of seven participants, had an average weight loss after adjusting for the placebo of 4.6 percent.
Roche first released Phase 1 data on July 17.
Roche shares were down 5% at around 1:00 p.m. ET on Wednesday, while Novo Nordisk (NVO) was up 4% and Lilly (LLY) was up 2%. Both Novo Nordisk (NVO) and Lilly (LLY) are dominant players in the weight-loss drug market with their drugs Wegovy and Zippond.