Novo Nordisk A/S rose the most since August 2023 after its experimental shot delivered as much as 22% weight loss in an early-stage trial, boosting investors’ hopes for the drugmaker’s pipeline.

Novo Nordisk on Friday announced early-stage trial results for its amycretin obesity drug for subcutaneous injection, saying people with obesity or overweight treated with the drug achieved a 22% weight loss after 36 weeks.

The new treatment targets gut hormone GLP-1 but also mimics amylin, a hormone released by the pancreas that suppresses hunger.