Lana

That's why the Danish firm has a new experimental drug in the pipeline, Kagrasemma, which is intended to compete with Lilly's already-approved Zepbound.

But in a head-to-head trial, Novo's drug just delivered weaker outcomes than Lilly's.

investors were quick to show their disappointment, sending the stock down 16% on Monday.

That leaves it languishing more than 50% lower than a year ago.

Novo's share price is the yo-yo dieter of the weight loss industry.

The stock ballooned after the firm was the first to roll out a breakthrough weight loss shot, briefly making Novo the most valuable company in Europe.

But it's slimmed by roughly three quarters since its glory days, as competition and pricing pressure have piled on.

And sure, the FDA's recent crackdown on copycat drugs gave investors a reason to take another look at the stock.

But that turned out to be little more than a sugar high, with this latest trial let down more than wiping out those gains.

Novo has further trials planned for later in the year, and it's hoping they'll better showcase Kagrosema's potential.

With investors clearly focused on drug performance, the firm will likely need some dazzling outcomes to get them back on board.

That's it for today.

I'm Lana.

I'll see you tomorrow.

Hey, I'm Lana with your Daily Brief for Friday, February 20th.

Coming up, OpenAI could raise a fresh $100 billion in a funding round that would value ChatGPT's creator at nearly $850 billion.

And China needs to lean more on its own consumers and less on exports, warned the International Monetary Fund.

We'll also check in with Carl to get his answers to your burning questions.

OpenAI is reportedly closing in on a record-breaking $100 billion-plus of fresh funding.

This fundraising round, which could pull OpenAI's valuation up to $850 billion, will be led by some of the startup's existing partners, SoftBank, Nvidia, and Microsoft.