Novo Nordisk ( NVO) stock was down more than 8% Monday morning after the Danish drugmaker shared new data on its next-generation GLP-1 drug, CagriSema.

Novo Nordisk on Monday revealed weaker-than-expected data from a second late-stage trial of its obesity drug candidate CagriSema, knocking shares and stoking worries that rival Eli Lilly may be gaining an edge over the company in the weight-loss drugs market.

Novo Nordisk’s vision of 25%-plus weight loss is looking further and further away. | Novo Nordisk’s vision of 25%-plus weight loss is looking further and further away. Three months after missing that target in its first phase 3 CagriSema trial,

Novo Nordisk has reported the second phase 3 trial of its new obesity hopeful CagriSema but, as with the first, the topline weight-loss result has sent its shares into a sharp decline.

Novo Nordisk said on Monday its experimental next-generation drug CagriSema helped overweight or obese patients with type 2 diabetes cut their weight by 15.7% after 68 weeks. The data is seen as crucial for the future potential for its experimental next-generation obesity drug,

Novo announced results from a new weight loss drug that failed to meet expectations. Despite the results, the company is still in a strong position to continue leading the weight loss space. Novo Nordisk announced that its next-generation weight-loss drug CagriSema helped obese or overweight adult patients with type 2 diabetes lose 15.

Novo Nordisk (NVO) shares fell nearly 7% premarket on Monday, the most since December, after the drugmaker said its investigational next-generation obesity drug CagriSema caused 15.7% weight loss in a clinical trial of overweight or obese patients with type 2 diabetes.